The time has finally come! Must be 21+. Playable in NY. Gambling Problem? Call 1-877-8-HOPENY or text HOPENY (467369). Standard text rates may apply.
For years the idea of legal sports betting and mobile sports betting in New York State has been nothing but a dream. Until now, New Yorkers would have to travel to neighboring states–either New Jersey or Connecticut–to place their bets. But starting this Saturday, January 8th, New York sports bettors will be able to place wagers from the comfort of their own homes for the first time in the state’s history.
Here you will find everything you need to know about New York sports betting, including but not limited to:
And most importantly, you will find two exclusive NY sportsbook promos from FanDuel and DraftKings sportsbooks! Both books are offering $100 in free bets to all customers–no purchase required! As long as you sign up on the day of launch (January 8th, 2022) the bonus is yours!
Yes! New York first legalized sports betting in 2013 but limited it to in-person wagering in just a handful of casinos upstate. It will now become legal state-wide, thanks to the legalization and implementation of mobile sports betting.
In 2020, FanDuel and DraftKings sportsbooks estimated that 20-25% of their betting handle in New Jersey came from New York residents crossing states lines. That’s an incredibly high number, considering the state handled upwards of SIX BILLION dollars in 2020 and made over $50 million in state tax revenue.
New York has more than twice as many people as the State of New Jersey, so we are expecting record-setting numbers to come out of New York sports betting once it launches on January 8th.
Shortly after in-person sports betting was legalized in NY, the state quickly worked towards getting mobile sports betting up and running.
The groundwork for mobile sports betting in NY began to really flesh out in mid-November when nine sportsbooks were granted the right to accept wagers in 2022. It was initially believed live wagers would not be accepted until the weeks leading up to the 2022 Super Bowl, but with the New Year comes some good news and the start date was pushed up to January 8th.
There are only a few basic regulations and rules that come with legalized NY sports betting. The most important being you must be located within state lines in order to place your wager. So in order to place any bets, you must allow location sharing through the sportsbooks app.
A second restriction with NY sports betting can be seen when you place the wagers yourself. If you are hoping to bet on some Syracuse Basketball or SUNY Buffalo Football you may have to wait–or hop on over to Jersey–because placing wagers on NY-based universities and colleges is prohibited under the current legislation.
In addition, you will not be able to place bets on any college athletic event taking place in the state of New York, regardless of what teams are participating in it. So, this prohibits placing wagers on many bowl games and NCAAB games that typically take place in New York. This includes future bets as well.
While the launch of mobilized sports betting in NY makes it possible to bet on games outside of casinos, it is still possible to do things the old-fashioned way if you’d like to. Here are the four casinos in New York State that currently accept in-person sports wagers:
These four casinos only collected a combined $10 million in 2020, with the state only collecting a bit over $1 million in tax revenue. These numbers represent not even a fraction of what the total handle will be in 2022 with mobile sports betting legalized.
One of the biggest problems these casinos face is their location and their far proximity to New York City. NYC has over eight million people, so these in-person sportsbooks had trouble capitalizing on the state’s biggest market.
By legalizing mobile sports betting in New York, the state is capitalizing on a large profit that was already being given to New Jersey.
In November 2021, nine sportsbooks were given permission to launch mobile sports betting in NY in 2022. The four sportsbooks that will be launching on Saturday, January 8th are as follows:
The remaining five sportsbooks without a concrete start date are:
If you have ears and at least a radio, chances are you’ve heard of DraftKings sportsbook. They’ve made a huge name for themselves in the past few years, especially through spearheading the Daily Fantasy Sports craze. But now New Yorkers will be able to play more than DFS, and will be able to place wagers on a large variety of sports using the DraftKings sportsbook.
The DraftKings sportsbook offers bettors an incredibly user-friendly experience as their app is very streamlined and easy to use.
New York joins New Jersey, West Virginia, Indiana, Pennsylvania, New Hampshire, Iowa, Colorado, Illinois, Tennessee, Michigan, and Virginia as the states that accept bets through DraftKings sportsbook.
DraftKings and OddsSeeker are working hand-in-hand to provide you with some great promo codes, so check them out below!
As a special start-up bonus, if you sign up for DraftKings TODAY (Jan. 7) through our referral link, you can get $100 in free betting credit!
If you missed that betting promo, then you can use our affiliate link at any time to get a $50 no-deposit bonus, as well as a HUGE first-deposit match, where you can have up to $2,000 of your first deposit matched in betting credit!
If you live in New York, you’ve definitely seen the Caesars Sportsbook ads on TV in the past couple of months. Will most people may be familiar with the name Caesars from the Vegas Hotels or their local salad bar, its also pretty big in other states where it may legally operate online, such as Colorado, Iowa, Indiana, Michigan, New Jersey, Tennessee, Virginia, and West Virginia.
Caesars Sportsbook is offering OddsSeeker readers a welcome bet of up to $1,000 if you sign up for Caesar’s Sportsbook HERE with promo code “EMPIRE” or “ODDSSEEKER”. Please note that this bonus only reimburses money through non-withdrawable betting credit. So while you get the $1,000 back, you must use it on the sportsbook.
Bally Bet is an exciting new player on the online sportsbook scene. It's currently playable in Colorado, Illinois, Indiana, and Virginia, but is set to expand to other states in the near future. One of the most hotly anticipated future launches is set to occur in New York State, as it's one of the nine books (so far) approved to launch in the area. Unfortunately, we don't yet have referral promos for this book, but you can check back here for future updates, and read our full review in the meantime to find out what you should expect.
Another giant in the mobile sports betting game, FanDuel Sportsbook offers New York Bettors a sportsbook with a long and storied reputation. According to Bloomberg, FanDuel singlehandedly accounted for 42% of the US sports betting industry’s share of betting revenue in June 2021.
FanDuel has long been established in the DFS world, and is one of the most used sportsbooks in the country today.
FanDuel offers a $1,000 first deposit match bonus promo if you sign up through our affiliate link whenever. BUT, if you sign up HERE during the pre-launch period (Ends Jan 8th) you can get a $100 free bet on FanDuel!!
BetRivers Sportsbook offers bettors a first deposit match bonus of $250 when you first sign up with the book! BetRivers is one of the four initial books to launch in New York, so make sure you grab that claim soon so you can use it on the first day!!
BetMGM (part of the MGM Resorts and Casino brand) is a sportsbook that will be coming to New York in the coming months! It also operates in New Jersey, Colorado, Indiana, Iowa, Michigan, New Jersey, Pennsylvania, Tennessee, Virginia, and West Virginia.
Check out a more in-depth review HERE.
WynnBet Sportsbook is one of the new kids on the block, and they’re causing a ruckus! New players can make their first bet risk-free for any amount up to $1,000.
An Australian-based sportsbook, PointsBet was founded in 2017 and plans to launch in NY State in the coming weeks. Click HERE for a more in-depth review!!
Pretty much anything and everything! Excluding the college restrictions I mentioned earlier, you can bet on almost any sporting event you can imagine through the nine sportsbooks offered in NY state. The list of sports includes but is not limited to:
If you’re interested in placing some bets on these events, here are the types of bets you’ll be able to place in NY!!
Moneyline Bets: Want to pick a winner straight up, no strings attached? Then Moneyline Betting is for you.
Spread Betting: Are you so confident a team will win that you’re willing to give up points? Or, on the contrary, are you so unconfident that a team will win, or maybe only win by a close margin? Spread betting allows you some leeway on games, where the team you bet on can lose, but if they lose by the amount of points you got them at, then you still win.
Parlay Betting: The best way to make a lot out of a little in sports betting, parlay betting allows you to combine several different bets into one, giving you boosted odds on all of them to happen. Be careful though–because every bet has to hit in order for you to receive your money.
Teaser Bets: They’re kind of like parlay bets, but a bit different. Click HERE to learn about what makes a teaser a teaser.
Future Bets: Have any ideas as to who will win next year’s NBA Championship? Then hop on over to the futures tab and place your future bet.
Prop Bets: Not so big on betting on individual games? Then why not bet on individual PLAYERS by choosing some prop bets.
Parlay betting and future bets are two of the most popular forms of betting because they offer the most return on investment. Future bets can be made on pretty much anything–just take a look at the future bets FanDuel sportsbook is offering right now:
The reason why future betting is so popular is that it gives you a great chance to get a high return on your investment, especially if you place your bet early on in the season. For example, if before the NFL season the Jets were supposed to be a dumpster fire, their odds to win the Super Bowl would be incredibly low, maybe along the lines of +50000.
However, if you had a feeling the Jets were going to blow all expectations out of the water, you could place an appropriate wager on them and watch intently for the rest of the season. As the Jets win games and perform well throughout the season the future odds may change from +50000 to +500–but the odds you got in at don’t change.
Similarly, parlay betting provides a great opportunity for return on investment, but for a completely different reason. Parlay betting allows you to combine different bets into one bet, and as a result, the sportsbook gives you boosted odds for all legs of your bet hitting. For example, a parlay slip may look something like this:
While it's incredibly unlikely for all three of those things to happen, the high odds of parlays allow to bet only a small amount, and in return get a nice profit.
The State of New York will be imposing a 51% tax rate on profits gained by the nine approved sportsbooks. This is an incredibly high rate, considering New Jersey only has an 8.5% tax rate on in-person bets and a 13% tax rate on mobile bets.
This high tax rate will generate BILLIONS (yes, that’s a B) of dollars for the state, with 95% of it already allotted to go to K-12 schools. While the 51% tax rate doesn’t impact bettors directly, it does make it very hard for sportsbooks to turn a significant profit. However, sportsbooks should be happy to hear that the tax rate can drop to as low as 35% in the coming years, as more sportsbooks are permitted to operate in the state.
It is estimated that the 51% tax rate should yield the state over $1 billion in taxes within the next couple of years.
Any and all sports betting winnings above $600 a year are taxed and must be claimed on your tax returns. That amount can come from one large bet, or an accumulation of bets throughout the year. When filing your federal taxes, the rate on gambling winnings is 24%.
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