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New York Prepares For State-Regulated Sports Betting

NYC sports betting

New York (NY) gambling regulators will vote today on four gambling licenses that will soon be issued to upstate casinos looking to add domestic sports betting.

The Gaming Commission is in charge of issuing sports betting licenses throughout the state. There are currently four NY casinos looking to obtain state-regulated sports betting licenses: Resorts  World Catskill (Monticello), Rivers Casino (Schenectady), Tioga Downs, and Del Lago Resort and Casino (Finger Lakes).

The Gaming Commission previously endorsed allowing these casinos to offer sports betting in the state of New York. Other bills are also circulating that could expand domestic sports betting even more.

New York’s mobile sports betting bill S-17 is currently being amended to include in-person wagering at professional sports arenas. NY State Senator Joesph Addabbo heads the Racing, Gaming, and Wagering Committee in New York is hoping that this amendment will help extend sports betting by offering an affiliate or remote facilities.

One of the more interesting factors to the S-17 amendment is that Senator Addabbo wants to redefine the concept of an affiliate and allow sports betting kiosks at NY stadiums such as Yankee Stadium, Madison Square Garden, and Barclays Center.

Currently, sports betting is only allowed in person and at the four casinos mentioned above. Once the casinos have issued a license (projected later this summer), the casino will be allowed to accept bets, and sports betting will officially be launched in New York.

New Yorkers have had access to online offshore sportsbooks for nearly a decade, but the new state-based options will provide state revenue that will directly affect them. Online sportsbooks have grown into the culture of NY sports bettors, but with the addition of state options, some bettors will likely turn or utilize both options.

Offshore sportsbooks offer their users many perks that will be hard to break New Yorkers from including lucrative sports bonuses, cryptocurrency betting, political betting, entertainment betting, and in-state sporting events.

The state of New York has decided to fight offshore sportsbooks by offering the same service with NY state regulators. If mobile sports betting passes the state legislature, New Yorkers will only need offshore sportsbooks for game lines on in-state college sports wagering and online bonus offers.

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