While New Yorkers have access to retail and mobile sports betting in licensed casinos upstate, it remains inaccessible to many residents, as they will need to travel to these casinos to place a bet. For many, its actually easier to drive to the New Jersey border or hop on a train to another state and place a bet on an online sportsbook. There has been a clamor to see more and better software sportsbook options and finally see a New York online sportsbook industry.
After years of debate, New York is finally working towards this goal. Online sports betting is still not legally operating in the state, but we are slowly getting there. In the latest in the efforts to legalize sports betting in New York, the State Register recently published a Notice of the Adoption of Sports Betting Rules. This will allow for the discussion and amendment of the regulations.
New York Online Sportsbook Industry
Of course, before operators can open a sportsbook in New York, they will need to comply with licensing. Together with the proposed amendments, the New York State Gaming Commission can finalize and prescribe the rules for online sports betting. The law allowing sports betting in New York was included in the state’s budget-related law in April. The state’s gaming commission will issue licenses to at least two mobile sportsbooks and have, at the most, 4 mobile sportsbooks.
The commission will still need to issue licenses to operators that will give them 10 years, but will have the state collect a 51% tax rate. This is the highest tax rate any state in the country is ever asking, and will mean that these sportsbooks will have to look at other options to earn more. This will probably end up with less exciting odds and less bonuses and promotions for these sportsbooks when they launch. Meanwhile, if you would like to create your very own sportsbook and be in total control of your lines and bonuses, you can read these sportsbook pay per head reviews to guide you.
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