We cover and provide a detailed analysis of all the different sports betting NY options that are available in the Empire State. Not just covering all the different sports such as baseball, hockey, and football, but also whether operators allow just NY online sports betting, or betting in-person as well
We cover all your popular sports betting markets from your moneyline bets to spreads and even parlay bets too. We highlight the differences between each, as well as offer our expert opinions on which bets are the best to cover throughout each season of all the sports available to bet on in NY.
The team here at NY-Bookies.com, along with our specialists with over 10 years of experience in the sports betting industry, are responsible for checking out all NY sports betting operators. But what is it we look for when we pick the top bookies?
We cover everything that is sports betting in NY; from reviewing online sportsbooks to covering the different betting types. Here are a few areas that we cover with a little more detail.
There are a number of different sports betting bonuses available in NY, and here are just a few of the varying types you may find:
One of the most popular bonuses found at most NY mobile sports betting operators, which works by matching your deposit. This can vary in terms of percentage matched and usually has a maximum value, such as a 100% deposit match up to $1,000.
Unlike the deposit match bonus, there is no requirement to put funds in your account with this one. That does mean that, yes, you get a free chance to try out any bets you want. However, they will normally come with wagering requirements.
What if you could place a bet with no risk to you? That’s how this works. If you win, happy days. If not, your losses can be returned to you in free bet credits with your operator.
The process of sports betting legalization has been underway since as far back as 2018 when NY mobile sports betting bills were put forward before both chambers of the state legislature. Unfortunately, at this point, no progress was made, which caused another attempt in 2019. However, this again failed to see the light of day.
Another attempt was put forward in 2020, but was delayed due to COVID-19, and ended up instead being included in the 2021 state budget bill. On this occasion, discussions were positive and Governor Andrew Cuomo, as well as the state legislators, approved the bill, thus legalizing sports betting in NY.NY Sports Betting
Sports betting has been allowed for many years in person at a number of specified locations in New York, such as approved legal casinos and sports venues. It wasn’t until 2021 that sports betting online and via mobile was allowed when nine operators were granted licenses to operate as of January 2022.It has since become one of the highest-performing states in sports betting within the US, not only leading in bets handled, but also generating record tax revenues.
The law states that sports betting in NY can only be conducted with those who have the relevant licenses from state regulators. As of now, there are eight live operators including Caesars, FanDuel, and PointsBet, with BallyBet a ninth approved operator yet to launch.
Within the first two months of operating, New York saw $1.5 billion in bets handled, with sportsbooks reporting just $350.3 million in revenue. By mid-march, over $2 billion in bets had been placed, making it the most popular sports betting destination in the US.
Within its first six months of operation, NY has seen record tax revenues generated, thanks to its industry-high 51% charged to operators. In total, the state has raised more than $263 million in tax, taking it above Pennsylvania which was the previous highest earner at $256.4 million with a smaller tax rate of 36%
The high rate however has come under scrutiny by operators in NY, with Chief Financial Officer of BetMGM, Gary Deutsch stating:
Players would never continue to play if the House always won. If the House is going to lose every single time, it can’t keep playing.
This issue that operators have with the high tax rate could come up for discussion in the state assembly, with ideas already put forward to offer out more licenses to compensate for a drop in tax rate. However, if nothing is done and sports betting operators in NY are not satisfied and deemed to be making enough of a profit, we could see them pull out
