New York Sports Betting Laws
Sports fans can now legally place their bets online starting Jan. 8, 2022, according to a new York State Gaming Commission report. There are four main operators of online betting sites: Bally’s, DraftKings NY, FanDuel NY, and YES Network. Each of these sites features a full list of sports events. Clicking on a sport will take you to a page highlighting upcoming games in that sport.
The sports betting industry is set for a huge growth, thanks to the US Supreme Court ruling. Despite the fact that legal sports betting is available throughout the US, it has lagged behind due to a lack of a legal online market. In New York, all betting is only allowed in upstate casinos. However, the state has enacted legislation that allows mobile and internet sports wagering. The bill will now allow sportsbooks to accept online bets and mobile wagers.
The New York sports betting industry enjoyed a successful start in 2021. The state’s two sportsbooks combined to earn $3.57 million in gross revenue during January. This is a record-breaking amount of revenue for the state’s sports betting industry. The state’s Governor, Andrew Cuomo, endorsed the new laws and endorsed the single-source model run by the state lottery. This model has been criticized in Washington D.C. for its perceived lower prices for consumers.