Mobile Sports Betting Apps to Drop in NY This Weekend
Sports bettors will be excited to hear that mobile apps will launch this weekend in New York State.
Yesterday, the New York State Gaming Commission announced that four sports betting apps will go live this weekend. DraftKings, Rush Street Interactive, Caesars, and FanDuel have all been approved to begin offering mobile betting options. The Commission says that each operator has met the statutory and regulatory requirements to accept and process wagers. Operations could start as soon as 9 am local time on Saturday.
Details of the Launch
On its website, the Commission said that after the effective date that each license holder will determine when to begin accepting wagers based on the readiness and capability of the operator. Just two months ago, the regulator began accepting bids for apps to offer services in the state. Along with those that could launch this weekend, others are in the mix.
Resorts World, Bally Bet, WynnBET, PointsBet, and BetMGM will also be allowed to offer services in the future. This list of operators have earned conditional licensing and will need to continue to work on getting the final approval to launch. The providers will be taxed at 51% of revenues and a 10-year license costs $25 million.
According to a source, both Rush Street and FanDuel are ready to operate. Both were approved in this first round and have their apps ready to take bets starting on Saturday. The college football championship game is on Monday, which gives the providers plenty of time to start taking bets on the big game.
The NFL playoffs will start soon too plus the NHL and NBA seasons are ongoing. This gives the new apps a great deal to offer new members. It is expected that sports fans will jump at the chance to wager via the operators that launch first online in the state.
Senator Addabbo Excited for the Launch
New York Senator Joseph Addabbo has been pushing to see sports betting go mobile for quite some time now. He is the Senate Racing, Gaming, and Wagering Committee chairman who supported expanding sports betting into the online realm. He was hopeful that the apps would launch before the upcoming Super Bowl.
In a statement, the senator said that he is excited to hear that some operators will start offering services this weekend. As the NFL’s regular season will be in its final week, the launch will help to generate revenue for several needs of the state including youth sports, addiction service options, and state education needs.
Addabbo thanked the Gaming Commission for being efficient in ensuring that the operators were able to meet the set requirements and get started offering services as soon as they are. The senator stated that he looks forward to the next five operators meeting the requirements as well and launching in the future.
New York has the largest economy in the United States and the legalized sports betting industry is expected to boom with its online services. It is expected that the market will actually the top spot in the nation as the number one sports betting market.
It will most likely take all apps in operation before that can happen, but it will certainly be interesting to watch and see just how the state is able to gain ground with mobile sports betting services. Right now, New Jersey remains at the top of the pack but players will no longer have to travel to the nearby state to bet online when New York starts offering service options.