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Opening weekend in New York lived up to the hype. Operators took in millions of bets over the weekend, and expectations are high. But not everyone is quite so optimistic about the future of the industry.
The State Gaming Commission announced Thursday that four of the nine licensed New York mobile sports betting operators (Caesars Sportsbook, DraftKings, FanDuel, and BetRivers), have met all needed requirements to start accepting mobile bets. The regulator explained that after that effective date, each licensee will determine when to accept wagers, based upon its business capabilities and readiness." Remaining conditionally licensed operators (PointsBet, BetMGM, Resorts World, BallyBet, WynnBet) continue to work towards satisfying statutory and regulatory requirements necessary to launch and will be approved on a rolling basis when requirements are met.
The four New York sportsbooks launching Saturday already have partnerships with New York casinos. The operators must house their servers at casinos in the state. This announcement means that bettors could place bets for the last week of regular season games for the NFL and the upcoming playoffs and Super Bowl. New York sports betting expects $10 billion next year. The state has already received $200 million in license fees from mobile sports operators and the companies have agreed to pay a 51% tax on gross revenues, the highest in the US. New York mobile betting has bankrolled a TV ad blitz to alert New Yorkers it is primed to play mobile sports bookie, as reported by the New York Post.
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