The day has finally come – starting Saturday, January 8, 2022, New Yorkers can bet on sports legally using one of the NY-approved betting apps.
Four of the nine licensed New York operators have been given the green light to launch, namely, BetRivers, Caesars, DraftKings, and FanDuel Sportsbooks. The other five are still waiting for the stamp of approval of the New York State Gaming Commission.
Great News for New York, Says Sen. Addabbo
Senator Joseph Addabbo Jr. was one of a number of public figures in New York who have expressed their satisfaction regarding the latest NT mobile betting update.
Statement from NY State Senator Joe Addabbo on Saturday launch of mobile sports betting: pic.twitter.com/M381r6E4EK
— Mike Mazzeo (@MazzNYC) January 6, 2022
Addabbo called it “great news for New York in terms of revenue” thus reminding everyone that the mobile betting industry is projected to bring about $500 million in tax revenue.
As a reminder, the New York betting laws require the operators to pay 51% of their gaming revenue to the state budget. Considering that the state is home to nearly 20 million people, it wouldn’t be a major surprise if the revenue was even higher than expected at the end of 2022.
The tax revenue generated from the mobile betting industry in New York is supposed to be used to fund education, youth sports initiatives, as well as to battle addiction.
Remaining Five NY Sportsbooks to Launch in Time for Super Bowl?
Four NY online sportsbooks are up and running, with five more sets to get the green light from the state in the upcoming weeks. The sportsbooks in question are the following:
- Bally Bet
- Wynn Interactive
- Resorts World
Although there hasn’t been any official confirmation coming from the NY State Gaming Commission, Sen. Addabbo did give a hint to the media a few weeks ago. As per him, all New York sportsbooks should become fully operational in time for Super Bowl LVI, which is scheduled for February 13.