New York State Selects Mobile Sports Betting Operators
It is been a extended time coming. Now, the list of mobile sports betting operators for New York has been released, and it says a lot about the state legislature there.
The two bidding parties revealed are 1 from FanDuel and one more from Kambi. That does not imply these are the only two operators, although. The bid from FanDuel involves additional operators such as DraftKings, Bally’s, and BetMGM. The bid from Kambi consists of PointsBet, Caesars, WynnBET, Resorts Planet, and Rush Street Interactive.
Noticeably missing from the list of authorized operators are bet365, FOX Bet, and Barstool sports. Why would these reputable operators be left out in the cold? In our opinion, it’s the math.
You might keep in mind that we told you how New York would have a tax rate for mobile sports betting operators which bordered on extortion. Even so, if a lot more than 12 operators have been authorized for licenses then the tax rate would fall to 35%. Now, go back and add up how many operators have been approved. We’ll wait.
There are ten names on that list, which means the tax price will be 51% for ten years. Clearly, New York is attempting to catch up to their neighbors in New Jersey, who just took in over $1 billion in sports bets. But the Empire State has a extended way to go before they come close to those numbers.
Mobile sports betting in New York are anticipated to be up and running in time for the Super Bowl this coming February, and it does have the potential to grow to be the biggest sports betting market place in the country.