Mobile sports betting for the win as NY approve nine licenses including Draftkings, FanDuel and BetMGM

·1 min read

New York state regulators gave the green light for nine online sports bettering businesses to launch lucrative mobile betting on sports sites for users in the Empire State.

The state gaming commission approved the betting sites on Monday including industry giants DraftKings and Fan Duel, and BetMGM to potentially launch by the end of November for New York users.

The new betting sites should be up-and-running in time for Big Apple gambler to use their phones to gamble on the upcoming National Football League playoffs and the Super Bowl early next year.

Other sites, winning approval include ally Bet, Caesars, PointsBet, Resorts World, Rush Street Interactive WynnBET and Kambi. Several are online or mobile divisions of casino giants.

A few other sites were rejected by the commission.

The approval requires the gambling firms to install computer servers to process the bets on the premises of one of New York’s four legal brick-and-mortar casinos to comply with the state’s rules restricting gambling to on-site bets only.

Sports gambling was legalized in nearby New Jersey in 2018, which currently taxes wagering revenues at 14.25% and while the Empire State expects a bet-by-mobile windfall, NY will tax the wagers at an eye-watering 51% for the next decade.

According to the Wall Street Journal, Thirty-two states and the District of Columbia have legalized sports betting, but not every state has approved online gambling. Mobile wagering is operational in at least 18 states and D.C.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting