New York’s First 9 Online Sports Betting Operators Announced
Gary Hershorn/Getty Images. Pictured: New York City skyline
New York online sports betting is getting that much closer.
The state’s gaming commission on Monday announced the nine sports betting operators that will begin accepting wagers next year, confirming a report from the NY Post last week.
The list of sportsbooks:
New York’s licensing procedures differed from most other states. Sportsbooks teamed up to submit bids, and two consortiums were selected. The first is DraftKings, FanDuel, Bally Sports, and BetMGM.
“We’re pleased to share that BetMGM has been granted a license to operate mobile sports betting in New York, a state vital to ensuring nationwide leadership in sports betting and iGaming over time,” BetMGM CEO Adam Greenblatt said. “We would like to thank the New York Gaming Commission as well as congratulate them for keeping to their timetable. New York has the potential to be one of the largest sports betting markets in the U.S. and BetMGM is particularly well positioned to become a leader in the state given the strength of the M life customer database, close proximity of Empire City Casino to support our omni-channel strategy, and parlaying our already leading positions in nearby states.”
The second group consisted of PointsBet, Caesars, WynnBet, Kambi and Resorts World.
“Today’s news of being recommended by the New York Gaming Commission marks an exciting moment for us at PointsBet,” said Johnny Aitken, the CEO of PointsBet, in a statement. “Having the potential to secure market access to New York State — expected to be one of the largest and most important markets in the United States — represents another major milestone for our company, our brand, and our technology.”
The names missing from New York include Fanatics and Barstool/Penn National, which teamed up to bid together. Fox Bet and Bet365 will also be absent. Also not receiving a license is theScore Bet, which is being acquired by Penn.
New York won’t be a lucrative market for most operators because of the 51% tax rate on profits imposed by the state. But because of the massive population, cultural significance to the sports landscape and rule that the tax rate will decrease to 35% with 13 total operators, books want to be there from the jump.
New York has had in-person sports betting since June of 2019 at four casinos, all at least an hour from New York City.