New York: Mobile sports betting is now possible
A new year always brings new ones Opportunities. Some sports betting providers in New York can be happy about this. Because for a few days, some sports betting providers have been able to offer their range on mobile devices. But not every bookmaker can be happy about this new step. We inform you at which bookmaker sports betting fans can play mobile.
Discussions have been going on for two years
The hope for mobile Sports betting has been cherished by many providers for two years. InMarch 2020, Senator Joseph Addabbo came up with the idea of allowing mobile sports betting. He also wanted to license three local gambling groups. Both were rejected at the time. However, the senator took the decision calmly and was sure that sooner or later mobile sports betting will be allowed.
This was also due to the financial losses that already existed in March 2020 due to the corona pandemic. This is exactly why the idea of offering mobile sports betting came up. At the time, the senator had the idea that mobile sports betting could generate a large sum in taxes.
The soexisting deficit of six billion euros should be reduced thanks to tax revenues. That's why the senator promised two years ago that he wouldn't give up. As the current report shows, he has kept his promise.
Nine providers enjoy their special position
Sports betting providers in the state of New York have been able to offer their bets on mobile devices for a week now. This is possible for the first time in the long history of sports betting. The Gambling Commission, which is responsible for this federal state, has taken care of this. However, not every bookmaker automatically has permission to offer their range online. Currently, thebookmakers Caesars Sportsbook, DraftKings, FanDuel and Rush Street Interactive have the chance to offer their customers a mobile offer.
Other gambling operators still have no permission, but they seem to be able to get it. According to an official report, they still have to implement some regulations. These providers include well-knowngambling companies such as Bally, MGM and Wynns. Permission would automatically be issued for the corresponding portals of these and other providers as soon as the legal requirements were met. At least that's what the current report says.
Things aren't looking so good for other gambling providers, who are well-known all over the world but still can't comply with the current rules.One such provider is bet365.
Bookmaker very pleased with the progress
Some of the bookmakers mentioned above have already signed up publicly commented on the positive innovations. These include MGM, for example, even if they do not yet have a permit. However, this corporation is certain that this will be the case soon andis pleased with its own position. Due to its own M-Life customer database, BetMGM feels able to expand its own stand with mobile sports betting.
DraftKings has also already commented on the innovation. This group is also pleased to be able to offer its exciting range of sports betting to millions of players. Jason Robins, the CEO ofDraftKings, has described its own offer as the "top rated" in New York.
In addition to the providers, of course, is pleased the state, too, because it expects substantial tax revenues. Estimated to be $500 million per year. This high sum comes about because thesports betting providers pay 51 percent of their turnover as taxes have to pay. After all, such a high tax rate was set for the next 10 years.
Taxes aren't the only revenue New York State can count on, however. Any gambling company applying for a mobile sports betting license must pay a$25 million license fee.
Innovation comes to perfect Time
Perhaps the new year was used to allow mobile betting. On the other hand, betting fans will be happy tomobile to bet on upcoming sporting events like the National Football League. At the same time, however, the playoffs and the Super Bowl are imminent. Of course, New York as a state is also happy about this. The more sports betting fans the mobile Use possible applications, the higher the tax revenue.
Previously, in New York10 billion US dollars are used for sports betting annually. The resulting $1 billion in profit was shared fairly between the state and the providers. Once players can wager on mobile, revenue could even increase.
Currently,many sports betting fans travel to the adjoining state of New Jersey to bet there. No effort seems too great for the players, as many even ride their bikes to the next federal state.
However,only the Hudson has to be crossed . It is already possible to place mobile bets via smartphone. This option is considered by players to be more convenient than previous New York betting options. From this point of view, there will also be a loser in this case: The state of New Jersey, which will lose some players due to the new regulation.