Welcome to the big new world of online sports betting, New York.
Mobile bets can be made (legally) starting at 9 a.m. today (Jan. 8) from anywhere in the state using your smartphone or other device. That means you’re no longer required to visit a sports book (lounge) housed inside a casino to place your wager, which you’ve been able to do since 2019.
And, it’s happening just in time for the NFL playoffs, which start next weekend. This weekend marks the end of the regular season. The Super Bowl, the single biggest sports betting event of the year, is Feb. 13.
Ready to play? Here’s what you need to know:
How do I start?
Beginning today, four operators will launch their online betting platforms in New York (and they’re offering rewards and bonuses for signing up). They are:
BetRivers (Rush Street Interactive)
You can sign up on those platforms now using a website or by downloading an app (although some of the apps may not be ready Saturday). You’ll need to provide credit card, checking account, Paypal or other information to process your transactions. And you must be 21.
Five other operators will launch as soon as they complete New York’s approval and licensing process. They are PointsBet, BetMGM, Resorts World, BallyBet and WynnBet.
New York state will be the biggest market to launch online betting so far. That has attracted some of the top names in sports betting, despite the highest tax rate (51% of revenues) for operators in the nation.
That means you can’t really go wrong in picking your platforms, according to Eric Ramsey, a market data analyst for PlayNY.com (and the PlayUSA network), which offer news and insights about the gaming industry.
“The encouraging thing is that New York has some of the industry’s finest operators,” said Ramsey, who is also a Syracuse native. “They all want to establish a foothold in New York. So it’s shaping up as a strong market, with each of the operators offering a dynamic and entertaining gaming experience.”
What can I bet on?
All the major pro and college sports are available for wagers, from football, basketball and hockey to golf, soccer and even auto racing.
You can bet on more than just the outcome of a single game or event. There are pre-game and in-game “prop” bets, such as who scores first in a given contest. And there are “futures” bets, in which, for example, you can bet now on who will win the 2022 Final Four or World Series.
There are also “parlays,” in which you can, for example, place one bet on the winners of a number of different games, such as the slate of NFL games this Sunday. Like the trifecta in horse racing, however, the odds are longer on such bets.
What can’t I bet on?
New York is one of the states that prohibits betting on college sports involving in-state teams. That means you can’t place a bet of any kind on Syracuse University football or basketball (or Colgate, St. Bonaventure, Clarkson etc.)
You also can’t bet on any collegiate event held in the state, such as a potential NCAA tournament round at the Carrier Dome in Syracuse, even if a New York team is not participating.
Also, note that bets on horse racing, including online, are not included at “sports” betting platforms. You’ll find horse racing bets, which have been available in New York for some time, at such sites as NYRA Bets, TVG, TwinSpires and BetAmerica.
Sounds complicated. Is it?
Sports betting certainly has its own jargon and terminology. It can require a bit of specialized knowledge.
Veteran players will know the difference between betting the spread or the money line, for example, but that could be a little intimidating for a newcomer.
If you’re a little unsure, it’s probably best to keep it simple at first, said Ramsey at PlayNY.
“You might not want to start with a parlay bet on 15 different games, where the odds are really hard,” Ramsey said. “New bettors should probably stick to single games in sports they’re comfortable with. Same thing with the money line. If you’re not comfortable with that, bet the spread.”
Of course, many of New York’s new online players will be familiar with the ins and outs of betting, either through legal or not-so-legal experience.
Plus, Ramsey said, many players are already familiar with daily fantasy sports (where you build your own “team”) and its already legal online versions.
“Anyone who plays fantasy online will find the transition to full-scale sports betting completely natural,” he said. “That includes moving your money around digitally.”
What about taxes?
Yes, your winnings (assuming you’re lucky) are subject to both federal and New York state tax. You should be prepared to keep records of your transactions.
Keep in mind, Ramsey notes, that everything transacted online leaves a record behind. And some operators may withhold taxes on winnings.
“It’s not like a cash bet where maybe the record isn’t there,” he said. “That won’t happen online.”
PlayNY has a guide to New York’s gambling taxes.
Some wonky details
Ever heard of geotracking or geofencing?
That’s what allows one state to offer online gaming even if its neighboring state doesn’t. That’s been the case recently for New York, which was beaten to the online betting market by neighbors New Jersey, Pennsylvania and Connecticut.
Simply put, you can only bet in New York (or any other state) by using devices within that state’s borders to connect with servers also in the state.
New York’s online gaming law specifies that the servers must be physically located at one of the state’s already licensed casinos. And players must be in New York to connect and place bets.
It actually works, Ramsey said.
He cites the example of the George Washington Bridge, which links Manhattan to New Jersey across the Hudson River.
“Since (online) betting has been legal in New Jersey but not New York, you actually have had to go halfway across the bridge, the middle of the river, to make the connection,” he said.
Now, New York players can connect in New York, and Jersey players in Jersey.
Odd and ends
A couple of other fun online gaming facts:
· Caesars Sportsbook, one of the operators launching today, is a partner in the physical sports books located at the Oneida Indian Nation’s Turning Stone, Yellow Brick Road and Point Place casinos in Central New York. As part of that affiliation, rewards and points earned at Caesar’s online platforms are transferable to the casino sports books, and vice versa. Bets placed through Caesars’ online platforms also drive revenue to the Oneidas.
· The Buffalo Bills announced Thursday they have signed up FanDuel as the team’s official sports betting partner. That means FanDuel will be able to make use of Bills’ logos and other assets for ads, sponsorships and more. FanDuel also becomes sponsor of Bills by the Numbers, a podcast hosted by Steve Tasker and Chris Brown.
Don Cazentre writes for NYup.com, syracuse.com and The Post-Standard. Reach him at dcazentre@nyup.com, or follow him at NYup.com, on Twitter or Facebook.