New York Mobile Sports Betting License Winners Announced
After many years of delays, New York finally announced the winners of two licenses for mobile sports betting. Residents might have to wait for months before they can gamble on their phones. However, rapper Jay-Z was not granted a license by the state’s Gaming Commission. In order to bid for a license, he had teamed up with two companies. Instead, the commission approved two broad coalitions that include the most prominent names in gaming.
New York’s Mobile Sportsbooks Go Live
Caesars Sportsbook and Wynn Interactive teamed up with Resorts World, which is both owned by Genting (one the largest gambling companies in the globe) and Rush Street, the Chicago-based firm that operates a Schenectady casino.
DraftKings is a member of the consortium that includes FanDuel, as well as BetMGM and Bally’s Interactive.
New Yorkers cannot place mobile sports bets immediately. The state must approve technical details and testing for gaming platforms. Industry observers think that systems must be in place before the Super Bowl on February 13.
Since 2018, New Jersey residents can place bets on sporting events via their smartphones or mobile devices. This has been an advantage for some New Yorkers. Since 2018, Pennsylvania has allowed mobile betting.
New York gets a boost with mobile sports betting
After many years of failures, Albany legislators approved mobile betting expansion as part of the state budget process for this year. Although the deal was made to allow betting at four casinos, it failed to meet the state’s regulations. This disappointed supporters of expanded gaming.
Lawmakers who supported the legislation were disappointed Monday that the companies selected did not seem as diverse as they had hoped.
Assemblyman Gary Pretlow from Westchester County, a Democrat who heads the chamber’s Committee on Racing and Wagering, stated, “I’m truly disappointed that the Gaming Commission is making a serious error in not being inclusive, and just going back to the good old boy systems. We’re just playing around with the same people.”
Monday’s announcement from commissioners showed that while the evaluation process considered whether bidders would promote racial and ethnic diversity in their workforces, more weight was given to factors such as expertise and other relevant factors.
Both winners expect to launch nine online casinos. Nearly a dozen operators licensed in New Jersey (including racetracks and casinos) have partnered with nearly two dozen online bettors.
Pulling Bettors Back Home
Senator Joseph P. Addabbo Jr. is a Queens Democrat and serves as chairman of the Racing Gaming And Wagering Committee. He expressed the hope that New York’s online gamblers will “switch to stay” when the new betting sites are launched. He said, “We’ve got to be competitive. We’re asking New Yorkers to come to us, and stay with us.”
New Jersey’s success with mobile betting is huge. It announced in September that it had made $1 billion in sports betting in one month. This is the largest amount of betting that was done using smartphones and other devices. This resulted in tax revenue of $46 million, according to the Division of Gaming Enforcement.
New York’s winning combinations must pay a 51% tax and a fee of $200 million for all bets. Licenses will be valid for 10 years.
