New York Sportsbooks

The Empire State has more sports betting revenue than any other state in the US. New York offers residents and visitors various options to wager on their favorite teams and events. 

New York's sports betting landscape has rapidly evolved, becoming one of the most robust markets in the United States. 

This guide will cover everything you need to know about sports betting in New York, from its legal status to the best sportsbooks and betting strategies.

Legal New York Sports Betting

Sports betting in New York became legal in 2019, with the first retail sportsbooks opening their doors in July of that year. 

However, the real game-changer came in January 2022, when online sports betting officially launched in the state. 

This move catapulted New York into the spotlight as one of the country's largest and most lucrative sports betting markets.

What is Legal Sports Betting in New York?

Legal sports betting in New York encompasses retail (in-person) and online wagering on various sports and events. 

Licensed operators offer betting services through physical sportsbooks at casinos and racetracks, as well as via mobile apps and websites. 

Bettors must be at least 21 years old and physically within state borders to place legal wagers.

New York Sports Betting Legislation Timeline

• 2013: New York passed a law allowing retail sports betting at commercial casinos, contingent on a change in federal law.
• 2018: The US Supreme Court strikes down PASPA, opening the door for states to legalize sports betting.
• June 2019: New York finalizes regulations for retail sports betting.
• July 2019: The first retail sportsbooks open in New York.
• April 2021: New York includes online sports betting in its state budget.
• January 8, 2022: Online sports betting officially launches in New York.

New York has attracted some of the biggest names in the sports betting industry. 

While the list of licensed operators may change, as of 2024, some of the top sportsbooks in New York include:

1. FanDuel
2. DraftKings
3. Caesars Sportsbook
4. BetMGM
5. BetRivers
6. PointsBet
7. WynnBET
8. Resorts World Bet

Online Sports Betting in New York

Online sports betting has quickly become the preferred method for most New Yorkers to place their wagers. 

With the convenience of betting from anywhere within state lines using a smartphone or computer, it's no surprise that online betting accounts for most of the state's sports betting handle.

Signing up for an online sportsbook in New York is a straightforward process:

1. Choose a licensed sportsbook and download their app or visit their website.
2. Click on the "Sign Up" or "Register" button.
3. Provide personal information, including your name, address, date of birth, and last four digits of your SSN.
4. Create a username and password.
5. Agree to the terms and conditions.
6. Verify your identity by uploading a copy of your government-issued ID.
7. Make your first deposit and start betting.

What Sports Can I Bet on in New York?

New York offers various sports and events to bet on, catering to diverse interests and preferences.

NFL 

The National Football League is the most popular sport for betting in New York. From regular season games to the Super Bowl, NFL betting attracts massive attention and wagering volume.

NBA 

Basketball fans can enjoy betting on NBA games throughout the season, including marquee events like the All-Star Game and the NBA Finals.

MLB 

Baseball betting is particularly popular in New York, given the state's rich baseball history and the presence of iconic teams like the Yankees and Mets.

NHL 

Hockey enthusiasts can place bets on NHL games, including regular season matches, playoffs, and the Stanley Cup Finals.

College Sports 

While betting on in-state college teams is prohibited, New Yorkers can still wager on out-of-state college teams.

NASCAR 

Motorsports fans can bet on various NASCAR races and events throughout the season.

New York's Sports Teams to Bet On

New York boasts an impressive array of professional sports teams, providing ample opportunities for fans to bet on local favorites:

• NFL: Buffalo Bills, New York Giants, New York Jets
• NBA: New York Knicks, Brooklyn Nets
• MLB: New York Yankees, New York Mets
• NHL: New York Rangers, New York Islanders, Buffalo Sabres
• MLS: New York City FC, New York Red Bulls

New York College Sports Teams

While betting on New York college teams is prohibited, it's worth noting some of the prominent NCAA programs in the state:

• Syracuse Orange
• St. John's Red Storm
• Buffalo Bulls
• Army Black Knights

Types of Wagers Available

New York sportsbooks offer a variety of bet types to suit different preferences and strategies:

Moneyline 

• A straightforward bet on which team will win the game outright.

Parlays 

• Combining multiple bets into a single wager for potentially higher payouts.

Totals 

• Betting on whether the combined score of both teams will be over or under a specified number.

Point Spreads 

Wagering on the margin of victory in a game, with one team given a handicap.

Futures 

• Long-term bets on outcomes that will be decided in the future, such as championship winners or season MVP.

Prop Bets 

• Wagers on specific events or player performances within a game are not necessarily related to the final outcome.

Live Bets 

• Placing bets on games already in progress, with odds updating in real-time.

Prohibited Bets

In New York, certain types of bets are not allowed:

• Wagers on in-state college teams
• Bets on high school or youth sports
• Prop bets on individual college athletes

Callout: Always check the latest regulations, as prohibited bet types may change over time.

With multiple sportsbooks available, it's important to choose the one that best fits your needs and preferences.

What Should I Look For When Deciding Which New York Online Sports Betting Site is Right for me?

Consider the following factors when selecting a sportsbook:

1. Competitive odds
2. Variety of betting markets
3. User-friendly interface
4. Reliable customer support
5. Secure and convenient banking options
6. Promotions and bonuses
7. Mobile app quality
8. Live betting and streaming options

Why Should I Have At Least 3 New York Sportsbook Accounts?

Having multiple sportsbook accounts offers several advantages:

1. Line shopping for the best odds
2. Access to a wider range of promotions and bonuses
3. Diverse betting markets and unique offerings
4. Backup options in case of technical issues with one platform
5. Ability to capitalize on different strengths of each sportsbook

What Deposit And Withdraw Options Are Available?

New York sportsbooks typically offer various banking methods, including:

• Credit/debit cards
• E-wallets (PayPal, Skrill)
• Online bank transfers
• ACH/eCheck
• Play+ prepaid cards
• PayNearMe (cash deposits at retail locations)
• Wire transfers
• Checks (usually for withdrawals only)
•  

The sports betting industry has significantly impacted New York's economy and entertainment landscape. 

With its large population and passionate sports fan base, New York is the top sports betting market in the United States.

New York Sports Betting Tax Rate

New York imposes one of the country's highest tax rates on sports betting revenue. 

As of 2024, the tax rate for online sportsbooks is 51% of gross gaming revenue. This high tax rate has been debated within the industry, with some arguing that it could impact the market's competitiveness.

Importance of Responsible Gaming in New York

While sports betting can be an exciting form of entertainment, it's crucial to approach it responsibly. New York takes responsible gaming seriously, requiring licensed operators to implement various safeguards and resources for bettors.

Some responsible gaming measures include:

• Self-exclusion programs
• Deposit and betting limits
• Time-out options
• Problem gambling helplines
• Educational resources on responsible betting
•  

New York offers a robust and diverse sports betting landscape, with both retail and online options available to bettors. 

The state's high-profile professional teams, combined with a wide range of betting markets and licensed operators, make it one of the most exciting places for sports wagering in the US.

As the market continues to evolve, it's important for bettors to stay informed about the latest developments, regulations, and responsible gaming practices. 

By doing so, New Yorkers can enjoy a safe and entertaining sports betting experience while contributing to the state's thriving gaming industry.