Sports Betting Ny

With New York facing a $15 billion budget shortfall from the coronavirus pandemic, online sports betting is viewed as one possible way to inject much-needed money into the state. New Jersey legalized online wagers in 2018, and earlier this month, Governor Andrew Cuomo included an online professional sports betting plan in his executive budget proposal that he claimed would raise $500 million in revenue for the state.

But many logistical hurdles remain. Cuomo’s proposal for legalization runs counter to what the Democratic supermajority in the state legislature is pitching. Some authorities are questioning the legality of the whole enterprise. And there are lingering concerns about gambling and addiction, particularly with the number of people sequestered at home and the opportunities that could be suddenly available to lose significant amounts of cash.

A sports betting launch in New York would be huge. We all know that. New York has a massive population with over 18 million citizens inhabiting it. For perspective, New York is fourth in the entire country in total population according to the US Census Bureau. Andrew Cuomo is backing the legalization of mobile sports betting in New York in a push to close the state’s $15 billion budget gap looming in this year’s state budget. That makes New York the 14th state to legalize some form of sports betting. Thirteen states have done so since a May 2018 U.S. Supreme Court ruling that struck down a federal law that had.

“I don’t see the governor’s proposal as workable in New York,” said Assemblyman Gary Pretlow, the chairman of the Committee on Racing and Wagering.

Right now, you can place horse racing bets on your smartphone through an app run by the not-for-profit corporation that oversees horse racing in New York’s three major tracks. Mobile betting for professional sports could theoretically function in a similar way. Currently, the servers for horse betting are located at the racetracks.

In both Cuomo and the legislature's proposals, the servers for mobile sports betting would be situated at places where bets are already taken, like casinos. The major overriding question is how many operators, or “skins,” as they are called in the industry, there will be, and who will get to profit.

Under Cuomo’s proposal, which still needs to be fleshed out further, the New York State Gaming Commission would be directed to solicit bids for a small number of mobile sports wagering operators. The system would be akin to how the state-run lottery functions, with possibly only one or a small number of operators overseeing sports betting. A single operator runs online sports betting in New Hampshire, Oregon, Rhode Island and the District of Columbia. Overall, sports betting is now legal in more than two dozen states.

Robert Mujica, Cuomo’s budget director, said earlier this month that the advantage of the state proposal would be the ability to maximize tax revenue. “The fundamental question is: if you want to support the bottom line for casinos or New York’s students. And the governor’s proposal chooses students,” Mujica told the Wall Street Journal. (An identical statement was sent to Gothamist from Freeman Klopott, a budget spokesman for Cuomo.)

It’s not clear yet what Cuomo’s tax rate would be for his online betting model, though Mujica has asserted that it would be enough to raise $500 million a year. The state legislative proposal, co-sponsored by Pretlow and the chairman of the State Senate’s Racing and Wagering Committee, Joseph Addabbo, puts the number closer to $100 million annually.

At first glance, that would seem to make Cuomo’s proposal the better one, given the potential for serious state budget cuts without new forms of revenue. But lawmakers and some gambling industry insiders aren’t so sure. In New Jersey, which is generally viewed as a success given the number of people who place bets, there are as many as 17 legal online sportsbooks.

New York’s legislature is looking to take a similar approach, believing their proposal has a better opportunity for growth—more operators can lead to more options for consumers and more interest in placing bets. Addabbo calls his legislation “inclusive,” because it would also allow for Native American casinos, casinos on state property, and off-track betting sites to participate.

“Competition bodes better for our residents and will drive up revenues than being a narrow state-run lottery kind of system,” Addabbo argued. “New York finds itself in a very odd position not being a leader. We are outside looking in. New York right now is a three-wheeled car limping along in the right lane. New Jersey and Pennsylvania are speeding by us.”

Bennett Liebman is a government lawyer in residence at Albany Law School who previously advised Cuomo as the deputy secretary for Gaming and Racing. He said the difference between the two models is a question of what is being prioritized: more tax revenue, or a better model, long-term, for consumers and gambling interests?

“It all depends on what you want in your market. If you want what the governor is seeking, which the draft is very general, you are looking for maximum tax revenue, you will give it to one or two groups and you are going to tax them at a very high rate,” Liebman said. “If you are looking to create a robust market to help out casinos and consumers, then you go with, or you are more inclined to go with, the legislative plan.”

Liebman called the Cuomo administration’s $500 million revenue figure for online sports betting “very, very high,” and predicted a few operators would dominate the space in New York, like DraftKings and FanDuel have done in New Jersey. Casinos, racetracks, and online gambling in total generated a little more than $300 million in tax revenue for New Jersey in 2020.

Even if New York reached Cuomo’s projections—let alone the far smaller figure from the state legislature—online sports betting would represent only a minuscule fraction of a state budget that was $177 billion last year. One question hanging over the debate is whether the united front fighting for mobile sports betting in New York—the currently existing casinos, and operators like DraftKings and FanDuel—would crumble if only a small number of them were selected to make money from sports betting.

According to a constitutional amendment passed in 2013, sports wagering in New York is currently allowed only in physical portions of its four existing commercial casinos and other facilities operated by Indian tribes. Cuomo and supporters of online sports betting believe their proposal will meet the requirements of the state constitution by locating the servers for the betting websites at the physical casinos.

Neil Murray, an Albany attorney who has sued to oppose gambling in the state, said there was a “legitimate, serious question” about the constitutionality of online sports betting.

“The problem right now is the constitutional amendment that was passed several years ago does carve out exceptions for gambling at casinos. The operative word is ‘at’ and what does that mean?”

Murray argued the way the amendment was proposed—an economic stimulus for destination casinos that would prevent the proliferation of gambling statewide—contradicts the arguments made for mobile sports betting today. “If you allow online gambling and people can gamble from their living rooms, then of course that destroys the whole purpose on which gambling was authorized on a limited basis to begin with,” he said. “Everybody is counting on collective amnesia.”

Pretlow, the state assemblyman, contended that his bill met the requirements of the state constitution but Cuomo’s would not if it chose to operate like the state lottery. The lottery is regarded as a game of pure chance with no skill involved, allowing it to circumvent a longtime prohibition on gambling in the state.

“The lottery has to be 100 percent chance. The lottery is not gambling,” Pretlow said. “It’s flip a coin, heads or tails, nothing in the middle. I think if the lottery were to handle sports betting, it would lead to a constitutional question.”

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If you like betting on sports teams from New York, you’ve got a lot of choices. Such a huge state also means a lot of teams to follow. Heavy favorites like the Yankees are a much safer bet than consistent underdogs like the Mets; so do you want to go for the safe, modest payday or bet on the underdog for a super-sized win? Our betting tips about NY sports teams should help you figure out which bets to make and which ones to avoid. Find out more in the following articles.

How Do You Place a Bet?

Many bettors need to first understand how to place wagers by understanding how to read the odds being offered. Odds are set by using complicated algorithms to determine the outcome of a game. Bookies also take into account what the general public will be placing their bets on to determine these various odds.

Many bettors make the common mistake of betting on their favorites to win, often miscalculating that the best odds may be on the underdog. Bettors take into account the more recent results instead of looking further back into historical performances and taking a longer view of a team’s overall performance.

Understanding “American Odds” is vital to making the most of a wager and getting those best odds. Let’s use the Mets and the NY Giants as an example:

The sign in front of each odd shows whether you will win more money than you have wagered or less than your wager. A listed odd with a ‘-’ sign shows a bettor how much you need to wager in order to win $100. In this example, it means you need to bet $140 in order to win $100.

A listed odd with a ‘+’ sign shows a bettor their potential win on a $100 bet. Based on the example above, a $100 bet on the Mets would result in a payout of $120.

Where to Find Interesting Odds in NY

Online sports betting can be a very confusing art to master for many sports fans looking to place wagers. There are so many factors to understand, one of them is definitely how to find true betting value. This comes with time, patience and practice.

Value Betting essentially is when you bet when the perceived risk-reward ratio is slanted in your favor. We have discussed above the myth of placing wagers on the favorite to win, the stronger team is often considered to be a ‘safe bet’. Many times though, the value bet would mean high odds when backing the underdog.

Many bettors will shy away from backing the underdog, perceiving the risk to be too high as they go about betting and wanting to place wagers. But it’s best to bear in mind that an “underperforming” team receiving a large point spread by a bookie does not have to ultimately win the game. They only need to lose by less than the actual points that it is receiving.

This is highly doable, as many times the favorites to win is focused on reducing the risk of injury and winning the game, not on covering the point spread.

This is just one way that bettors can understand the best odds in value betting.

Different Types of Bets for Different Players

As already mentioned, sports betting provides bettors with an almost endless variety of the types of bets they can wager on. From straight bets, total line bets, over/under bets, money line bets, point spreads and handicap bets, parlay bets, teaser bets, futures and outright bets and so forth. The list is endless.

Sports Betting Ny Mobile

This can be very confusing for inexperienced and even experienced bettors. It all comes down to the bettor, their understanding of the sports and their deep knowledge of various betting types on offer.

Again, this is where experience and practice will stand you in good stead. For beginners, we feel that it’s best for them to focus on a sport they understand well. Let’s say that is Basketball and to bet on teams that they have deep knowledge of the teams, the NY Knicks and the Brooklyn Nets.

Next is to understand the types of bets on offer for various events and their odds and betting value. Take it slow and never bet more than you can afford to lose. Learn from your mistakes and soon enough you will be confidently placing wagers and winning money.

How to Choose an Online Sportsbook

Choosing where to place your bets online can be overwhelming for many bettors. We have put a lot of time and effort into reviewing some of the top online sportsbook sites for our New York bettors. The best thing to do is to read the reviews and understand what each bookmaker is offering.

The reviews all focus on what we believe are the main criteria for making the most informed decision. Many bettors may choose to use one site for their Football related bets and another for their Basketball related bets. However, you choose to approach it, make sure that the site is offering the markets and types of bets you are looking for.

Checking the Right Criteria

When you are deciding on a sportsbook site always look at the following criteria:

Welcome Bonus

Does the Sports Betting site offer a Welcome Bonus for signing up? If so, is it competitive, compared to the other operators online?

The Odds

Does the sports betting operator offer competitive odds for wagering on?

The Markets

New York State Mobile Sports Betting

Is there a number of markets on offer, that patrons can place bets on?

Promotional Offers

Are there various promotion on offer? Do the promotions cater toward new customers only, or do regular players also benefit from promotional offers?

Banking Methods

Is there a safe and secure way to enjoy banking methods on offer at the sports betting site under review? Do they offer SSL encrypted technology? This should be a standard offering for any reputable sports betting site.

Live Streaming

Will there be live streaming on sports events offered by the sports betting operator? This will indeed be a great way to get in on the sporting action.

Website Ergonomics

Is the website responsive? Does the sports betting platform offer a robust feel and allow for easy navigation? This should definitely be a determining factor towards deciding if the sports betting operator is yours to enjoy or not?

Sports Betting Online

Quality of customer service

Can one get in touch with the sports betting customer team readily and easily? Is there an open-door policy where patrons can ‘stop by’ for some advice or even just to say ‘hi’?

Another approach is to sign up for an account and take advantage of any Welcome Bonuses on offer. This will give you the opportunity to place real money wagers and get a feel for the site. This is a good approach to take before continuing to place your bets there in the future.

Where to bet on Sports in NY

Online Sports Betting Ny

So, you live in the state of New York? And you are passionate about sports? Are you looking for the best option to place a wager or two on all your favourite sports teams? New York has some incredible teams to support: the Brooklyn Nets, the Yankees, the Mets, the NYGiants and so much more.

Mobile Sports Betting Ny

Do not worry, we are here to inform you on what is the latest news regarding online sports betting in NY and to help point you in the right direction. As of this moment, there are still many legislative hurdles to overcome regarding online betting in NY.

The decision rests in the hands of the courts, they need to determine if NY can move ahead with online sports betting without having to amend certain sections of the constitution.

Whist this debates continues in court it leaves us in a “grey” area – here are a few possible options for you to take note of when that legislation is finally passed.

Sports Betting Nyc

NY Top betting addresses, check our reviews below:

As soon as we know more, we will update you here, so keep current on what is happening in New York with online sports betting.

All in all, it is advised to check out the various sports betting operators available out there and be sure to check the various competition before committing to your preferred betting operator.