New Yorkers won’t have to wait much longer to place in-state bets on their favorite local teams.
The New York State Gaming Commission last month approved final rules for sports betting, paving the way for app operators to undergo licensing.
The commission also already selected nine apps to launch: Caesars, BetMGM, FanDuel, DraftKings, WynnBet, PointsBet, Resorts, Bally’s, and Rush Street Interactive.
Bringing in DraftKings and FanDuel, in particular, could be a highly profitable decision. They are the market leaders in most of the states they’re already in, and FanDuel took up 43% of the market share in nearby New Jersey in May, while DraftKings made up 38%, according to CNN.
Mobile sports betting is expected to be available in New York in time for the Super Bowl, a welcome change for resident bettors. Retail betting has been open for some time, but not readily available in New York City, so those wishing to place a bet have had to either find a retail spot or travel out of state.
Apps are also expected to provide bonus offers and promotions once they launch, and maybe even before. Residents will be able to get off to a strong start in mobile wagering with New York sports betting bonuses.
Even more reason for New York residents to be excited: mobile sports gambling is wildly profitable. The industry generated $3.16 billion in 2021’s first 10 months, NBC News reported, citing the American Gaming Association’s Commercial Gaming Revenue Tracker.
Upon launch, there will be plenty for New Yorkers to bet on, chiefly the upcoming Super Bowl. As of Sunday evening, both BetMGM and WynnBet had the Tom Brady-led Tampa Bay Buccaneers at +500 to win it; BetMGM has the Kansas City Chiefs with the second-best odds at +650, while WynnBet has them at +600.
For residents looking to cash in on local teams, the New York Knicks and Brooklyn Nets are currently in the meat of their regular-season NBA schedules. While the Knicks have struggled so far and are 12-15 on the season, the Nets are 18-8 and boast the star power of Kevin Durant and James Harden, making them a favorite pick to go all the way.
BetMGM currently has Brooklyn as the favorite to win the NBA championship at +260. If the Nets do so or at least make a deep postseason run, fans will have plenty of opportunities to both enjoy the ride and place bets on the team.
For those interested in betting on hockey, New York’s two NHL teams, the Islanders and Rangers, are underway in their respective seasons. BetMGM has the Rangers at +2500 odds to win the Stanley Cup, with the Islanders at +5000.
Once baseball season rolls around, the New York Yankees and Mets will provide bettors tons of action. The Yankees went 92-70 with an AL wild-card berth last season, while the Mets were 77-85 and missed the postseason.
The NFL is always a strong avenue for wagering, and New Yorkers have both the New York Giants and Jets to bet on once the 2022 season kicks off.
Though neither has performed well this season, fortunes can change fast both for teams and bettors in the NFL game.
Of course, residents won’t just be limited to betting on local or even national teams. From international soccer to horse racing and even rugby, there are more than enough options for New Yorkers to choose from if they’re looking for wagering opportunities outside of the United States.
However they choose to place their bets, New York residents should be able to take advantage of mobile sports betting soon enough, allowing them to get more action on all their favorite teams.
Featured Image: Sportico