Caesars Sportsbook, DraftKings, FanDuel, and Rush Street Interactive have been approved by the New York Gaming Commission to accept mobile sports bets and mobile sports betting was launched on January 8th.
The four operators have “satisfied all statutory and regulatory requirements necessary to accept and process mobile sports wagering activity”, according to the regulator, and were able to accept their first bets on Saturday at 9 a.m. Eastern Time.
Following the conclusion of the state's tender process, Caesars, DraftKings, FanDuel, and Rush Street Interactive were four of the nine operators recommended for licenses.
The other five operators, including PointsBet, Resorts World, BetMGM, Bally's Corporation, and Wynn Bet, “continue to work towards satisfying statutory and regulatory requirements necessary to launch”, according to the regulator.
When these licensees meet these criteria, they will be approved on a rolling basis, according to the statement.
The four approved operators all have existing retail sports betting agreements with land-based casinos in upstate New York, though the regulator did not specify which specific requirements the remaining operators had not yet met.
Caesars has sportsbooks at Point Place Casino, Turning Stone Resort, and Yellow Brick Road Casino; DraftKings has a sportsbook at del Lago Resort; FanDuel has a sportsbook at Tioga Downs; and Rush Street Interactive, via Rush Street Gaming, operates a sportsbook at Rivers Casino & Resort Schenectady.
State senator Joseph P. Addabbo Jr, who served as chair of the Senate Racing, Gaming, and Wagering Committee and pushed for legal mobile betting in New York, praised the launch and the Gaming Commission for making it possible.
He stated on announcement date that “Today’s announcement by the New York State Gaming Commission that four of the nine licensed Mobile Sports Wagering Operators have been approved to begin operations starting on Saturday, 8 January, 2022, is great news for New York in terms of revenue, new funding for education, addiction programs and youth sports, as well as new jobs,” he said.
“I want to thank the Gaming Commission for their efficiency in ensuring that these operators met all of the requirements to bring their mobile sports betting product to the people of New York ahead of the NFL playoffs. I look forward to the other five operators satisfying the statutory and regulatory requirements necessary to launch in the near future and working with the Hochul Administration and Gaming commission.”
The nine operators who were approved to launch together submitted two bids to operate mobile betting in New York during the bidding process. FanDuel, along with DraftKings, BetMGM, and Bally Bet, led one bid, while supplier Kambi led the other, which included Caesars Sportsbook, PointsBet, Resorts World, Rush Street Interactive, and Wynn Bet.
Kambi's CEO, Kristian Nylén, expressed his delight at the prospect of powering Rush Street Interactive's sportsbook once it goes live.
“We are excited to launch online in New York State this weekend, along with our partner Rush Street Interactive, which marks another significant milestone in the growth of Kambi," he said. "Being selected to operate in New York by the New York State Gaming Commission underlines the high quality, integrity and reliability of Kambi’s sports betting technology and I’m delighted that Kambi will be up and running on day one of the market, in time for the business end of the NFL season."
“New York is among the most populated and sports-passionate states in the US and will no doubt be one of the largest regulated wagering markets in North America, one we are both excited and honoured to be playing a leading role in.”
Sports betting revenue will be taxed at a rate of 51 percent for all participants, the highest rate in any multi-operator US state.
Six bids were submitted to the tender process, which began in July of this year. A rival proposal led by Kambi, featuring Penn National Gaming and sports merchandise retailer Fantatics, ran alongside the winning FanDuel and Kambi-led proposals. Solo bids were also submitted by TheScore, which was later acquired by Penn National, and Bet365.
In late November, the New York State Gaming Commission approved a final set of sports betting rules.
Consumers will be limited to one mobile sports betting account per skin and will be subject to extensive Know Your Customer (KYC) checks before being allowed to wager. Credit cards, for example, can be used to fund accounts, but there will be a $2,500 annual limit for this method of payment.
By fLEXI tEAM