New York Formally Announces Licenses for Legal Mobile Sports Betting

New York Formally Announces Licenses for Legal Mobile Sports Betting

It has been a long wait for residents of New York, but the state has officially announced that it approved multiple licenses for mobile sports betting. The move finally puts them in line with neighboring states who have been ahead of the legal sports betting curve. However, the decision does not mean New Yorkers can start whipping out their phones and immediately place bets at this second. Read on to find out why.

Everyone knew this day was coming. Over the past few years, legal online mobile sports betting in the USA has become more and more common. It is eventually supposed to become standard practice nearly everywhere. So, it was only a matter of time before legal New York mobile sports betting became a thing, too. 

With that said, it has taken a while. Even as legal New Jersey mobile sports betting took effect, New York resisted. Other neighboring states that followed New Jersey's lead didn't seem to speed up their process, either. Now, though, we can finally say it: New York has formally announced licenses for legal mobile sports betting providers.

This process took some time to complete, but it has ended with two mobile sportsbook licenses being issued. And while that means New Yorkers will soon be able to join the increasing throng of Americans already placing sports wagers from their phones, tablets, and other devices, the wait isn't yet completely over. 

Legal Mobile Sports Betting Coming to New York State

As already mentioned, the New York State Gaming Commission (NYSGC) is set to issue two mobile sports betting licenses, both of which will be going to multiple parties who have combined themselves into a singular entity specifically for this process.

The first license will go to Caesars Sportsbook, Wynn Interactive, and Resorts World—that latter of which is owned by Genting, one of the world's largest gambling coalitions. These three properties also gave a stake to Rush Street, a smaller sports gambling company based out of Chicago that oversees the operations of casinos, as well.

The second license will go to a group that includes fantasy sports conglomerates DraftKings and FanDuel, as well as BetMGM and Bally's Interactive. This collective ultimately beat out a bid from famous musician and producer Jay-Z, who teamed up with two larger companies to make their own pitch.

Though the latter was aggressive in trying to acquire a license, they were at a disadvantage given the focus on the experience. The NYSGC decided it was best to build up a portfolio of veteran betting providers rather than take on any companies and partners that are trying to crack into the business for the first time.

Can New Yorkers Now Place Mobile Sports Bets?

The answer to this question is, unfortunately, no.

There are still details the New York State Gaming Commission is looking to hammer out. The most important among them include approving technical details and then testing gaming platforms. Each collective that secured a license has to build out their mobile betting applications (if they haven't already), test them internally, send them to the NYSGC, wait for feedback, incorporate any desired changes and correct any bugs and then repeat the first step.

This process can take a while, as the NYSGC will look at everything from design, functionality, accessibility, promotions, and bonuses, and anything else you can think of. On the bright side, as one of the later states to the mobile sports betting party, they are not starting from scratch.

Neighboring states such as New Jersey and Delaware can offer a blueprint for them to follow. New Jersey, specifically, is a mobile sport betting elder. Residents of the Garden State have been able to submit mobile sports wagers since 2018, and New York has plenty of experience coordinating with them as well as Atlantic City, another veteran of legalized gambling. Better still, many of the mobile sports betting partners New York is now in business with are already operational in the tri-state area, making it more likely they can speed up the process.

When Will New York Officially Roll Out Mobile Sports Betting?

In the past, this part of the legal mobile betting process has taken anywhere between six months and one year to complete. Most would agree that's a long time.

New Yorkers needn't worry, though. The state's final hurdle is expected to be cleared much quicker than a half-year. That's why they preferred to issue licenses exclusively to longstanding casino and sports betting providers.

Working with FanDuel and DraftKings, who have both thrived in the mobile betting industry, will prove particularly helpful. Neither they nor the Wynn-Caesars party is constructing applications and workflows from scratch. Everyone will already have templates, if not fully completed applications, ready to send over to the New York State Gaming Commission for approval.

Beyond that, and perhaps most importantly, New York wants to start measuring revenue from legalized mobile sports betting to start the New Year. That means New Yorkers should have the ability to place mobile sports wagers early in the first fiscal quarter.

If for some reason January 1 becomes an unrealistic date, you can definitely bet on the entire process being completed no later than the start of February. After all, much like every other state with legalized mobile sports betting, New York will not want to pass up the chance to capitalize on the rush of revenue they'll generate from the Super Bowl.

Check out this list of the top online sportsbooks so you can decide which one you might want to try out on your mobile device: