New York Legalizes Online Sports Gambling

Online sports betting is officially legal In New York.
Online sports betting is officially legal In New York. / Image courtesy of BLAST

Four licensed mobile sports wagering operators may begin taking wagers from bettors anywhere in New York, the New York State Gaming Commission announced Saturday morning.

As of 9 a.m. ET, Caesars Sportsbook, DraftKings, FanDuel, and Rush Street Interactive (BetRivers) have been approved to commence mobile sports wagering operations in New York. Upon launch, players across the state aged 21 and over can deposit funds and place bets at each of the four mobile apps on all mobile devices, tablets, and desktop and laptop computers.

Additionally, five conditionally licensed mobile sports wagering operators — BallyBet, BetMGM, Wynn Interactive, Resorts World Bet, and PointsBet — are still awaiting final approval to launch as well.

After state lawmakers and then-Gov. Andrew Cuomo initially included mobile wagering as part of the state's $212 billion budget last April, New York has now become the 18th state in the country to permit online sports gambling in some form.

Following the Supreme Court’s decision to end the federal ban on sports betting in 2018, more than half of the country has taken action to legalize it.

In the case of New York's policymakers' decision-making, the state is implementing a 51% tax on gross revenues by mobile sports betting operators, of which is said to be allocated to statewide education programs (elementary, secondary, sports programs for underserved youths, and gambling addition) and local municipal and county governments, as well as to provide property tax relief to New York citizens.

Ultimately, of course, with various esports events continuing to break records for viewership each year, perhaps the increasing cases of sports betting legalization around the country could be a major boon for the industry down the line.