Online sports betting in New York is edging closer to legalization, following the release of the New York State Register. The State Register contains all the information on potential new state regulations for the public and companies to read. This release marks a significant step towards legalizing online sports betting, but obstacles still have to be overcome.
Although the timetable is tight, most experts predict that the laws will pass in the Garden State in early 2022. NY is looking to have its online sports betting ready in time for the Super Bowl so that it can capitalize on the popularity of NFL wagering. New York has two very popular NFL teams, the New York Giants and the New York Jets.
Sportsbook Partnerships in NY
It is predicted that mobile betting will be incredibly popular in New York, but sportsbooks have still been signing partnerships with land-based locations in preparation for the launch of sports betting. The New York Gaming Commission will hand out all gaming and betting licenses, and the regulatory body has selected nine sportsbooks to receive a license. Those companies are PointsBet, FanDuel, DraftKings, Rush Street Interactive, Bally Bet, WynnBET, Caesars Entertainment, Genting, and BetMGM.
Both Caesars Entertainment and BetMGM have signed partnership deals with Madison Square Garden, giving the sportsbooks access to agreements with the New York Knicks and the NY Rangers. It is unclear how these two very similar deals will work side by side. Usually, these types of partnerships give advertising rights to a sportsbook around the stadium and exclusive team deals.
DraftKings’ Rejected Proposals
Although there has been excellent news for the sportsbook readying to launch, it has not all been plain sailing. The New York State Register’s release confirmed that state regulators had ignored some of DraftKings’ requests.
One of the main requests that DraftKings tabled was to change the law so that operators could pay tax monthly rather than weekly. It also wanted a change in the classification of the law around e-wallets. DraftKings wanted the state to recognize adding funds to a customer’s e-wallet as a withdrawal method. In addition, lawmakers had suggested that every promotion a sportsbook wants to offer has to be submitted for approval. DraftKings wanted it so only new promotional offers need scrutiny instead.
Many people that work for sports betting companies are fans of sport betting themselves. That is why DraftKings looked at taking away a law preventing sportsbook employees from using other companies’ sportsbooks. This, along with all the other suggestions listed above, was rejected.
Legal US Sports Betting
New York is getting closer and closer to the legalization of online sports betting. Currently, it is still illegal to bet within the borders of the Garden State. That’s not a problem because there are many states in the US where online sports betting is regulated and safe.
In 2018 the US Supreme Court declared the Professional and Amateur Sports Protection Act (PASPA) as unconstitutional. Since that ruling, states have had the autonomy to legalize online sports betting. That is why there have been certain states taking wagers for years. Whereas others, like New York, haven’t even started yet.
It also means there are many places in the US where you can bet. All you have to do is visit one of these states and make sure you’re of legal gambling age. If you are in New York, Connecticut and New Jersey are nearby states that allow sports betting. Check out which sportsbook apps are best in those states, then download one and start wagering.
Sugarhouse is owned by Rush Interactive, which is one of the most prominent providers of online sportsbook and casinos in the country. In 2016, SugarHouse launched it online casino in New Jersey, joined by its online sportsbook in 2018. Since then, it became a leading casino and sportsbook for Americans. Check out their fantastic bonuses, games and bets available, and see yourself why when it comes to casino and sports betting in the USA, Sugarhouse is a Powerhouse
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