The online sports betting application process in New York has been delayed, just as it was getting ready to launch. The New York State Gaming Commission was expected to unveil the online process on Thursday, but nothing was posted on the website as of Friday.
Senator Joseph Addabbo stated, “The fact that our state couldn’t meet its initial mobile sports betting deadline to take a positive step toward recognizing additional educational and anti-addiction funding is disappointing.” New York has had several setbacks along the way as the state has attempted to launch online sports betting.
New York was hoping to launch sports betting prior to the Super Bowl in 2022, but this delay could force a delay in the process. Missing out on the entire upcoming NFL season will cost the state millions of dollars.
Applications will be received for 30 days when the process begins, and the NYSGC will have up to five months to make a decision on each application.
New Set of Questions Answered
For anyone looking to get some more information about the online sports betting industry in New York, the NYSGC has a section on its website devoted to the industry. There is a FAQ section provided, and that continues to be updated as the state gets closer to launch.
Six new questions and answers were added to the website at the beginning of June, and more will be added in the coming weeks.
Four Operators Have Inside Track
There are currently four sports betting operators that have retail sportsbooks in New York, and those operators should have the inside track to obtain a sports betting license. DraftKings Sportsbook and FanDuel Sportsbook are the two biggest names, but Bet365 and BetRivers are also live in the state.
There are still some questions as to how the Gaming Commission is going to hand out the licenses, but having prior access in the state is a bonus. Operators that look to partner with a Native American tribe will also be given special consideration in the application process.
New York has a great sports background, and that will attract some of the biggest names in the industry.
Can New York Catch New Jersey?
The biggest question facing online sports betting in New York is how quickly it can catch up to its neighbor, New Jersey. New Jersey is now the clear leader when it comes to sports betting in the United States, and that put pressure on New York lawmakers to get a bill passed.
In May, New Jersey posted a total sports betting handle of nearly $820 million, and that’s not even one of the biggest months. In December 2020, New Jersey nearly eclipsed the $1 billion mark in total sports betting handle.
A large portion of that action is coming from residents of New York, and this could have an effect on the growth of New Jersey’s market. New York still has some questionable rules in place, and catching New Jersey is going to be a challenge.