New York Online Sports Betting Licenses Awarded by Gaming Commission
Online sports betting is finally making its way to The Big Apple as the New York Gaming Commission awarded licenses to eight providers, and nine operators on Monday, November 8, 2021.
It’s predicted that New York online sports betting will begin around the time of the Super Bowl in February 2022.
NY Online Sports Betting License Winners
Talks of who was likely to receive an online sports betting license stemmed from news reports throughout the past week.
The Gaming Commission was compelled to name at least two platform providers and four operators for the state’s online sports betting program.
The New York Gaming Commission approved some of the most popular sports betting providers out there like FanDuel Sportsbook, DraftKings, BetMGM, Bally Bet, Kambi, Caesars, Wynn Interactive and PointsBet.
In addition, the Gaming Commission approved the following as online sports betting operators, and it’s no surprise that a few names double dipped; FanDuel, DraftKings, BetMGM, Bally Bet, Caesars, WynnBet, PointsBet, Rush Street Interactive and Resorts World.
The licenses are valid for a duration of 10 years at a final tax rate of 51%. Additional licenses may be awarded in the future if determined to be in the interests of the State.
“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,” said Adam Greenblatt, BetMGM CEO, in a release.
Wynn Interactive CEO, Craig Billings, also expressed his excitement for the future of WynnBET in New York.
“We’re excited that the New York State Gaming Commission has approved our request for an application for online sports betting,” Wynn Interactive CEO Craig Billings said in a release. “New Yorkers represent a significant portion of the Wynn Las Vegas and Encore Boston Harbor databases, and we look forward to giving those customers more ways to earn and use Wynn Rewards. We also look forward to meeting and engaging with new customers in the state via WynnBET.”
Top New York Online Sports Betting Bids
Kambi, Caesars, Wynn Interactive and PointsBet submitted a tax rate of 64%, making them the highest rated applicant. Other groups had to match the rate to be considered finalists. Soon enough, we'll get to see who the best NY sports betting apps are!
Because it was in the best interest of the state, the gaming commission also accepted FanDuel, DraftKings, BetMGM and the Bally Bet group, and effectively lowered the overall tax rate to 51%.
The only finalist that was not selected by the Gaming Commission was Bet365. Others left out of New York online sports betting are Penn National Gaming (Barstool Sportsbook), Fanatics Gaming, FOX Bet and theScore.
Stay tuned for more details on New York sports betting progress..