After a meeting on August 16th, the New York Gaming Commission has published its rules for mobile sports betting in the state of New York.
All operators must have responsible gambling information displayed prominently on their site and must also have a problem gambling plan submitted to the Commission as part of their application. Details of all promotions must also be sent to the Commission at least 15 days ahead of the promotions’ launch.
All servers that process bets must also be held within one of the state’s land-based casinos to keep them compliant with the state constitution. Casinos that host servers will receive a hosting fee.
Applying for licenses
The New York Gaming Commission has already accepted six bids for licenses to operate sports betting. These licenses will then last for ten years.
The brands that have been granted licenses are FanDuel, Bet365, Fox Bet, theScore, and Kambi, the latter of which submitted two bids to the commission.
Under FanDuel’s bid, Bally’s, BetMGM, and DraftKings will also be allowed to offer sports betting. As a group, they have proposed a 50% tax rate, claiming that they are the only group with enough of a market pull to make such a rate viable.
The four operators currently have a 78% share of the US sports betting market, with an additional 81% share of the New Jersey market.
Affiliates with an interest in the US sports betting market should keep a close eye on their brands to determine when they might be entering the New York market.
