What Types of Bets Will New Yorkers Be Able to Place?

What Types of Bets Will New Yorkers Be Able to Place? article feature image

Gary Hershorn/Getty Images. Pictured: New York City skyline

Mobile New York sports betting is expected to launch in mid-January and bettors are anxious to place their online wagers for the NFL Playoffs and Super Bowl LVI on Sunday, Feb. 13, 2022.

Although in-person betting has been available in The Empire State since 2019, revenue from online sports betting is expected to be a boon for New York, especially since the state is imposing a steep 51% tax on profits from operators.

As bettors prepare for the upcoming launch, here are some details on the types of bets that will be available for users to place wagers on.

What Bet Types Will be Allowed Once New York Sports Betting Launches?

New York sports betting will allow wagers to be placed on most bet types you’d expect, including:

  • Point Spreads. Spread betting is a bet on the final score and the margin of victory in a game.
  • Moneylines. Moneyline betting is when you pick the outright winner of a game or event, either one team or another.
  • First Half & Second Half. Halves let a bettor treat the first half and the second half as separate matches. More specifically, bettors can bet on the spread, total (O/U), or moneyline per half.
  • Quarters. Bettors get fully immersed in a game with this bet type, as they are able to bet on spreads, totals, and moneylines per quarter.
  • Futures. Future bets are bets that will become final in the future (e.g., end-of-season results and awards).
  • Player Props. A bet that can be placed on a player’s performance in a game, such as which player scores the first points or goal of a game or how many interceptions they will throw. These bets are extremely versatile.
  • Game Props. Another versatile bet type are game props, which pertain to a team’s performance in a certain statistical category. Examples of game props include how many total points a team will score (same as an O/U) or which team will score 10 points first in a given game.
  • Teasers. A teaser bet is technically considered a parlay bet, but with a different structure. In other words, the bettor pays to adjust the point spread of a game. As mentioned before, the bettor must win all wagers in a teaser in order to win the bet. A common example is a two-team, six point football teaser where the bettor gets six extra points added to a spread to give them extra flexibility to win their bet. These bets are definitely risky but fun.
  • Parlays. A “parlay” bet consists of linking two or more bets together in an attempt to earn a larger payout. Keep in mind that the bettor must win all bets in a parlay to receive their payout. All bet types can be included in a parlay bet.

For a more detailed explanation of bet types, key terms, and betting tips, please refer to our Sports Betting Terms & Glossary and Betting Education resources.

Prohibited Betting 

In-state College Teams

When bettors are finally able to place legal online sports betting wagers, they must keep in mind that there are rules regarding betting on in-state college teams.

For example, online wagers can’t be placed on New York teams like St. John’s men’s basketball or Syracuse Orange football. However, you can bet on college teams outside of the state.

Individual Performance Prop Betting on College Sports

Additionally, there are limits regarding betting on individual performances by college players in the U.S.

You cannot bet that a player on the Baylor Bears will record a triple-double in a particular game. However, you can bet if a particular Baylor Bears player to win the Naismith Trophy this season because Baylor is an out-of-state team.

Online Sportsbooks Launching in New York

Back in November, the New York Gaming Commission approved nine operators to launch when online sports betting becomes live in the state.

Here’s a list of the current approved operators:

What’s Next for Mobile New York Sports Betting?

Although online sports betting has not launched in New York, retail sports betting has been available since 2019. More than half of the approved books already have physical betting locations at in-state casinos: BetMGM, Caesars, DraftKings, BetRivers and FanDuel.

Due to the high tax rate on revenue, it is not expected to be a lucrative market, at least initially, for operators. However, there is hope (with legal backing) that the tax rate will decrease to 35% once there are more operators in the fold. More sportsbooks could be added in the future, but the timeline for that is unclear. It’s also not known which operators would be next in line to get approved.

For further updates on New York and other states that will soon legalize online sports betting in 2022 and beyond, check out our legalization tracker.

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