New York Sports Betting

The legalization of sports betting spread like wildfire across the United States, and the state of New York made a significant impact on the market when legal online sports betting started in January of 2022. Finally, after years of sprinting over the George Washington Bridge or Lincoln Tunnel to place legal online sports bets in New Jersey, New York residents and sports fans can finally wager on their favorite sports teams and events from the comfort of their own homes. 

The legalization of sports betting across the United States is rapid and ever-evolving. Still, perhaps no state is as impactful to the industry in the United States like New York. With upwards of 19 million residents, New York is evolving into a power player in the country’s regulated, legal online sports betting market. 

New York Online Sports Betting Facts

The New York state government approved online sports betting in April of 2021. Before 2021, in-person sports betting was presented in New York, although it was not readily available to the general population as it is today. Therefore, before legalizing online sports betting in New York, many residents looking to place sports wagers would head to New Jersey, where online sports betting has been legal since 2018. 

Sports betting kicked off when then-governor Andrew Cuomo included legal online sports betting in the state’s budget bill in 2021, paving the way for the legalization and regulation of online sports betting in New York. New York officially became the 18th state to legalize online sports betting when operators launched on January 8, 2022. 

The New York State Gaming Commission is responsible for regulating legal online sports betting within state boundaries. This includes all aspects of gaming in the state, such as horse racing, the state lottery, legal online sports betting, and charitable gaming. 

New York has the highest tax rate in the country for legal online sports betting operators at 51%. With the tax rate, New York generated upwards of $70 million in tax revenue in the first 30 days alone via legal online sports betting. 

The sports betting menus are far and wide throughout New York; however, bettors in the state cannot wager on events involving college sports teams located within state lines. That means sports bettors in New York cannot bet on games involving Syracuse basketball and Army football, among other popular schools. Additionally, New York sports bettors cannot wager on player props of any kind involving collegiate sports.  

In addition to online sports betting, New York state also offers Daily Fantasy Sports for players. 

Unfortunately, online casinos are not yet legal in New York, although brick-and-mortar casinos are located beyond the city.  

New York Online Sportsbooks

With online sports betting legalized at the beginning of 2022, a handful of top operators flocked to New York to get into the ever-competitive market on the ground floor. There are currently nine operators in the state of New York, those being: 

• DraftKings
• FanDuel
• Caesars 
• BetRivers
• BetMGM
• PointsBet
• Wynn Bet 
• Bally Bet
• Resorts World Bet 

More operators are hoping to enter the market, but there is no shortage of quality options for New York sports bettors in the early stages of legal online sports betting. 

What Makes New York Sports Betting Unique? 

New York is one of the more unique places in the United States, and the sports betting scene is not much different. In less than a full year, New York has already become the top legal online sports betting market in the country and is poised to sit atop the leaderboards for years to come. 

Sports bettors in New York generated over $2 billion worth of sports bets within the first two months of legalized online sports betting. New York alone accounted for nearly a quarter of the country’s legal sports bets for Super Bowl 56, taking in over $400 million in wagers for the big game between the Los Angeles Rams and Cincinnati Bengals.  

There are over 150 professional sports between the NFL, MLB, NBA, NHL, and MLS throughout 52 cities in the United States and Canada. New York is home to the most professional sports teams for any one state in the United States, with 11 franchises across the five leagues. With numerous teams and a dense population made up of sports fans from across the world, New York’s online sports betting market is both expansive and diverse. 

Sports betting is legal in numerous states surrounding New York, such as New Jersey, Pennsylvania, and Connecticut. Despite the proximity to other states with legal online sports betting, New York remains the king of mobile sports betting in North America. 

With sports betting now legal in New York, sports bettors can expect expansive betting menus loaded with different wager types from various sporting events. Some bet types available for New York sports bettors include: 

• Moneyline: A wager on a team to win outright. The (-) always represents the betting favorite, and the (+) always represents the betting underdog. 
• Point Spread: A point spread is a wager formulated by oddsmakers that implements a margin of victory required for a winning bet. A point spreads design is to even the playing field for bettors despite a potential difference in skill level with teams or players participating in a said sporting event. 
• Totals: A bet placed on the combined outcome of points, runs, or goals generated in a sporting event. Users can bet “over” or “under” the total number listed by operators. 
• Props: A wager that is not exclusive to the winner or loser of a sporting event. Prop wagers tend to center around an individual player’s performance.
• Futures: A wager on the future outcome of an event. Future bets typically center around which team will win a championship, where a team will finish in the standings, or which player will be MVP. 
• Live Betting: Wagering on an event that ius happening in real-time. All New York bettors can gain an edge in live betting markets by using BetPrep’s state-of-the-art live betting tools. These tools provide players with professional research at the play-by-play level and rapid alerts before lines move to ensure educated live betting. 

New York Sports Teams

New York is home to some of the most popular and iconic franchises in sports history. With numerous franchises dating back to the early 20th century, New York is the mecca of sports in the United States and home to some of the most intense sports fans in the world. New York sports fans are as passionate as they come, and now fans can carry their passion over to mobile sportsbooks and wager on local sports teams. 

New York Yankees 

Arguably the most iconic franchise in the history of professional sports. With 27 World Series titles, Yankees fandom has been passed down from generation to generation of New York sports fans. Now that sports betting is legal in New York, sports fans can wager on the pinstripes whenever they see fit. 

New York Mets 

The National League ballclub in town. The Mets might not have the same storied history as their American League counterpart; however, they are operated by the wealthiest owner in the sport, which could mean a run of dominance in the near future. With that, Mets fans can fund their legal sports betting accounts and enjoy the impending ride by placing some wagers. 

New York Knicks

It’s been decades since the New York Knicks won an NBA Championship, yet they are considered one of the most valuable franchises in the league. Whether you want to bet on the Knicks to win or lose, there is no shortage of lines and wagering options for the basketball team housed at the World’s Most Famous Arena. 

New York Islanders

New York is a hot spot for all sports, especially ice hockey. While a handful of teams are located in Manhattan, the Islanders are the pride of Long Island, New York, and are named after the borough in which they are housed. Islander fans will be delighted with the bevy of betting options available within New York’s online sportsbooks. 

Buffalo Bills 

Bills Mafia is one of the craziest fan bases in professional sports. From sitting through games in freezing conditions to body-slamming people through tables, Bills’ fans are about as intense as they come, and that intensity carries over to the sports betting market in New York. The Bills are considered one of the best teams in the NFL and are among the favorites to win the Super Bowl in the coming season, meaning Bills Mafia will have plenty of opportunities to wager on their team. 

New York Giants 

The New York Football Giants. Like the other professional sports organizations, the Giants are beloved by their fans; however, they play their games in New Jersey, along with the New York Jets. This does not impact their support level, as plenty of New York sports fans travel across the river to watch their football team on any given Sunday. 

Other New York Sports Franchises

• New York Jets (NFL)
• Brooklyn Nets (NBA)
• New York Rangers (NHL)
• Buffalo Sabers (NHL)
• New York Red Bulls (MLS) 
• New York City FC (MLS)

Is New York sports betting fair and regulated? 

Who regulates New York’s online sports betting markets? 

While sports betting just became legal in New York in 2022, regulators and operators kept an eye on neighboring markets in anticipation of legal online sports betting’s eventual debut in the Empire State. When online sports betting became legal in New York, the market reflected many other states that have introduced legalized sports betting since 2018. The New York State Gaming Commission is responsible for setting and managing all regulations in the legal online and mobile sports betting scene across New York. 

Are New York’s Online Sportsbooks Trustworthy? 

Absolutely. Nearly every operator in the state is a household name in the North American sports betting industry and in charge of operations across various other legal states around the country. While there might be a stigma with sports betting and its old relation to organized crime in New York City, players can rest assured New York’s regulated mobile sportsbooks are among the safest and most reliable sports betting outlets in the United States.  

How To Withdraw Winnings From New York’s Online Sportsbooks

Since New York is the top dog of the legal online sports betting market in North America, players are presented with several safe, secure, and reliable options to deposit and withdraw funds from betting accounts. There are various cash-out options for New York sports bettors, including debit and credit cards, bank transfers, digital wallets, written checks, and more. Options vary from book to book, so look at the options before depositing/withdrawing funds from accounts.