Gaming experts from PlayNY.com say that New York mobile sports bets will do well, but may not quite live up to the to $500 million in annual tax revenue expectations some have predicted by 2024. Former Gov. Andrew Cuomo’s administration budgeted for proceeds from online gambling to reach $99 million in FY 2022, $357 million in FY 2023, and $500 million by FY 2024, which would easily be the most ever for one state. With the regulations for online sports betting now clearer, the New York mobile sports bets market will be highly lucrative for the state but fall short of…

As the NFL playoffs come upon us, expectations for the launch of New York mobile sports betting grow. We were promised that the state would have the activity up and running in time for the Super Bowl, and it looks like Saturday January 8th will be the day! Earlier this week, prominent New York Senator Joe Addabbo said that mobile sports bets in his state are “imminent”, and may even be available for some playoff games. So, the era of betting on sports in the Empire State, with all the lofty expectations that brings, looks to be a “go” for…

The State Gaming Commission has finally approved the rules for New York mobile betting. And according to one State Senator, bets could be taken as soon as the middle of next month. However, before any bets can be placed, there is an important process to be worked out. That is, the location of the servers which will accept the bets, which must be placed within one of the licensed land-based casinos. State Senator Joseph Addabbo had high praise for the Commission, as the hope had been to accept bets in time for the Super Bowl in February. From all indications,…

We all know that there will be a ridiculously high tax on New York mobile betting. And now, the CEO of DraftKings, Jason Robins, has made an interesting statement. While speaking at the Canaccord Genuity 2021 Digital Gaming Summit, Robins said he believes the 51% tax rate will not be a problem for the company. And we think we know why, as he plainly said that players who bet for profit are “not the kind of players” DraftKings wants. Now, let’s think about that statement for a moment. What Robins seems to be saying is that the exorbitant tax rate…

Ah, how fondly we remember when New York mobile sports betting was passed way back in April. And then, the delays started to mount. Now, as we near the end of the year, the application process drags on. One has to wonder if the delay could have anything to do with the monstrous 50% tax rate the state plans to implement. However, the State Gaming Commission maintains that they will narrow the list of applicants to a few finalists before mid-December… so that can’t be it. Still, the Commission did publish their “request for applications” for mobile wagering providers back…

After much delay and political fighting, New York online sports betting was finally signed into law by Governor Andrew Cuomo. Now, the real work begins. The goal is to have online and mobile sports bets fully regulated in time to let residents bet on the next Super Bowl. That means writing the rules, processing applications, and launching within nine months. Once applications for running a web based sports book are submitted, the Gambling Commission will have 150 days to process them and select just two providers. Requests to submit applications to the state will come no later than July 1st,…