New York Commission Approves New Sports Betting Regulations

EmpireStakes.com

By Lou Monaco

The mobile sports betting process took its next step forward in New York on Monday.

The New York State Gaming Commission (NYSGC) unanimously approved proposed mobile sports betting rules when they were first announced on July 9, the same day the request for application (RFA) for potential license holders went live.

The process continues on Sept. 1 when oral presentations from the six bidders can begin. Last Friday, the NYSGC released redacted applications for the six.

All selections for licenses must be made by Dec. 6.

MOBILE BETTING BY EARLY 2022?

Gambling in New York is successful on its own terms as sportsbooks enjoyed a strong spring and early summer — they combined for nearly $1.9 million in sports betting revenue in June. But sports betting revenue in the Empire State pales to that generated by neighboring New Jersey.

New Jersey, a forerunner in mobile wagering, posted $55 million in sports betting revenue in July.

New York is currently soliciting bids for potential mobile sports betting partners, and it has revealed some interesting partners.

BetMGM NY Sportsbook, Bally’s, DraftKings NY Sportsbook, FanDuel NY Sportsbook, the Seneca Nation, the Buffalo Bills, the Buffalo Sabres, Major League Soccer’s NYCFC, the New York Yankees and the YES Network are interested.

Also on the list is Fanatics, a sports apparel business that is looking to expand into sports gambling. Rapper Jay-Z will serve on the Board of Directors of the newly formed Fanatics Betting & Gaming and become vice chairman.

A recent survey that EmpireStakes.com commissioned showed at least 25% of sports fans in New York would place daily wagers once mobile sports betting is legal in the state.

New York State legislators, under incoming Gov. Kathy Hochul (D), hope to see mobile sports betting go live in early 2022, just in time for the Super Bowl on Feb. 13.

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WRITTEN BY
EmpireStakes.com
Lou Monaco
Lou Monaco had been East Coast Scene columnist for Gaming Today in Las Vegas since June 2019, covering the East Coast sportsbook scene with emphasis on NJ and PA. He also currently is a part-time writer for the high school sports department for NJ Advanced Media (NJ.com) in Iselin, NJ. Lou has over 30 years sports experience with previous stints at ESPN SportsTicker, Daily Racing Form and Oddschecker.
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Lou Monaco had been East Coast Scene columnist for Gaming Today in Las Vegas since June 2019, covering the East Coast sportsbook scene with emphasis on NJ and PA. He also currently is a part-time writer for the high school sports department for NJ Advanced Media (NJ.com) in Iselin, NJ. Lou has over 30 years sports experience with previous stints at ESPN SportsTicker, Daily Racing Form and Oddschecker.
... Read More