New York sports betting applicants include two bids from multiple sportsbooks and teams partnering to gain one of the prized licenses in the state.
Six bids of primary applicants were posted on the New York State Gaming Commission website Monday night and one is from a group featuring competing gaming companies Bally’s, BetMGM, DraftKings NY and FanDuel NY. Other partners include the Seneca Nation, Buffalo Bills, Buffalo Sabres, Major League Soccer’s NYCFC, New York Yankees, and the YES Network, according to a report by The Athletic.
Kambi also has a bid with Fanatics – led by former FanDuel CEO Matt King – with Penn National Gaming’s Barstool Sportsbook.
Bids were also submitted by bet365, FOX Bet and theScore to complete the list.
What’s Next in NY?
The NYSGC must now select at least a minimum of two platform providers and four operators, with an option to choose more. Oral presentations from the six bidders may begin on Sept. 1, with selections by the commission to be made before Dec. 6.
New York is looking for a minimum of 50% of gross gaming revenues from online sports betting. Gov. Andrew Cuomo would prefer a figure that approaches 55%. When Cuomo warmed up to the idea of legalizing online sports betting, the New Hampshire model, with one sportsbook operator, DraftKings, giving that state at least 50% of the revenue.
“This is more like the state lottery where we operate and get the resources,” Cuomo said when sports betting was included in the 2022 fiscal budget, significantly expanding N.Y. gambling. Retail sports betting is legal at four upstate casinos in New York.
There will be a one-time fee of $25 million charged to mobile sports betting platform providers if selected.
A study released in late July of New York sports betting showed that of New York adults surveyed, more than one in four of those seen as sports fans would place wagers daily when the NY market goes live. The survey was commissioned by EmpireStakes.com.
The figure increases among sports bettors, as the survey showed that one in three would place bets daily. Nearly half (44%) of sports bettors said they planned wagers at least once a week.
Working Through the Process
With all the attention in the state of New York on Cuomo’s sexual allegations investigation, the gaming commission has continued to work through the mobile sports betting process.
Two rounds of questions-and-answers from potential online providers were provided by the commission on July 22 and Aug. 2, leading to the bids submitted by potential platforms and operators on Monday.
Mobile sports wagering could go live by early 2022 in the Empire State. NY online casinos have not been legalized by the state. State Sen. Joseph Addabbo, chair of the Senate Racing, Gaming, and Wagering Committee, would like the online sports betting market to be live before Super Bowl LVI, which takes place on Feb. 13, 2022, at SoFi Stadium in Los Angeles, if not sooner.