New York Mobile Sports Betting Approved

by | Aug 20, 2021 9 Sports Betting 9 New York Mobile Sports Betting Approved

The New York state gaming commission has smartened up and approved mobile sports betting for the Empire state. The biggest issue previously was that bettors had to cross the bridge and head to New Jersey to place wagers either at the Meadowland or via their phones. This gave New Jersey the highest handle of any state for mobile betting even beating out Nevada.

During a meeting 4 days go the commission approved the new rules unanimously with the hopes that all states that pass legal sports betting will follow suit. For New York state only platforms and operators that the state approves are permitted to provide digital wagering options. The license is good for 10 years and all operators are going to be required to display responsible gambling information prominently on their websites, apps, and provide a problem gambling plan.

How Much Can You Deposit On a Credit Card?

This is the catch. Only $2,500 dollars will be permitted to fund an account each calendar year via Credit Card. Visa, Mastercard, Discover, and American Express will all be treated the same. This is done so that people do not bet on credit something bookies and illegal and underground sports betting operations allow. This ultimately leads to trouble and is seen as a good thing.

All servers to process and place bets will be held in one of New York states land based casinos. This will ensure that the state constitution is compliant with the regulated sports betting market. If a casino is hosting a server for Fan Duel, Kambi, Ballys, Bet365, Fox Bet, The Score, Draft Kings, PointsBet, BetMGM, Barstool Sports/Penn Gaming, or any other operator then they will have to pay a hosting fee that is to be determined.

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The final note is that each operator will be paying a 50% tax rate.

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