The New York State Gaming Commission has approved licenses for nine mobile sports betting operators who will be allowed to begin accepting wagers in early 2022.
The list of approved sportsbooks named by the gaming commission:
- DraftKings
- FanDuel
- BetMGM New York State Mobile Sports Betting Operators Announced at Long Last
- PointsBet New York State Mobile Sports Betting Operators Announced at Long Last
- Wynn New York State Mobile Sports Betting Operators Announced at Long Last
- Resorts World
New York’s sports betting legislation only allows for a limited number of licenses. This resulted in partnerships and consortiums unlike any found in other states in the USA with legal sports betting as operators teamed up to submit their applications.
However, while three consortiums were known to have applied, only two have been approved so far.
The two approved consortiums are:
DraftKings, FanDuel, Bally Sports, and BetMGM
PointsBet, Caesars, WynnBet, Kambi and Resorts World.
Speaking following the announcement, BetMGM CEO Adam Greenblatt said:
New York State Mobile Sports Betting Operators Announced at Long LastPointsBet also released a statement in which CEO Johnny Aitken added:
New York State Mobile Sports Betting Operators Announced at Long Last, the third group that had also applied for a licenses has failed to secure its place in the market. This group consisted of Fanatics and Barstool Sports/ Penn National Gaming. Other notable names that are also absent from the market include Fox Bet, theScore Bet, and Bet365.“Today’s news of being recommended by the New York Gaming Commission marks an exciting moment for us at PointsBet. Having the potential to secure market access to New York State — expected to be one of the largest and most important markets in the United States — represents another major milestone for our company, our brand, and our technology.”
New York won’t be quite the lucrative market for operators that the likes of New Jersey or Pennsylvania are thanks to the 51% tax rate imposed on all profits. However, the fact that this rate will be reduced to 35% once all operators are in place and the incredible sporting history of the state, meant that operators were still eager to join the market.
It’s unclear whether or not any further license will be issued at any point in the future.
London based reporter covering all aspects of the global regulated and unregulated land-based and online gambling industry - including business news, sports-betting, casinos, poker & regulation