BetMGM announced on Friday that it will be the fifth sportsbook operator to launch in the New York sports betting market on January 17th.
BallyBet, WynnBet, PointsBet, and Genting’s Resorts World are the other sportsbooks that have yet to get the green light to accept wagers in the state.
BetMGM to Launch in New York Very Soon
BetMGM has not notified anyone about what specific time the company will launch its sportsbook on Monday. The post-weekend launch means the app will be available to its new customers on the final NFL Wildcard Game when the Arizona Cardinals play the Los Angeles Rams on Monday night.
The Empire State will soon be able to access what the company has to offer for its consumers. The company is the official sports betting partner of the New York Knicks, New York Rangers, and Madison Square Garden Arena.
BetMGM CEO Adam Greenblatt stated;
“With today’s monumental news, we’ll now be able to fully activate our relationships with MGM Resorts’ Empire City Casino and Madison Square Garden. We look forward to offering customers in New York unique experiences that they can’t access on any other platform.”
Joint Venture between MBM and Entain
BetMGM is a joint venture between MGM and British gambling company powerhouse Entain. Entain has become a legitimate competitor in the mobile sports betting industry as it has become the second or third most used app to place a wager in every state it has entered.
New York is the nineteenth state it will enter on Monday, and it is also the biggest market it will be a part of. The only companies it is behind in its space in terms of market share are DraftKings and FanDuel.
What BetMGM Will Offer to the New York Sports Betting Market
New York is the fourth most populous state in the nation and is the largest legal sports betting market in the industry. The state saw 17.2 million transactions in the first two days of gambling was live in the state.
BetMGM integrates MGM Resorts’ M life Rewards program that allows its customers to improve their gambling experience. Users will have to redeem their points at existing MGM Resorts properties, which include Empire City Casino in Yonkers, Borgata in New Jersey, MGM National Harbor in Maryland, and Bellagio and MGM Grand in Las Vegas. This will also include VIP experiences with the Knicks and Rangers.
BetMGM will miss out on many wagers that will take place this weekend with the NFL playoffs. However, this is a big step in the state’s sports betting market going forward. Most residents will not cross state lines to place wagers on sports.
New York has a 51 percent gross tax rate on sportsbook revenue which is the highest in the country. Also, New York has yet to report the sports betting handle for its first weekend of operation, but it is expected to be much larger than what the retail sports betting handle was the last two and a half years.