Sunday December 3, 2023

FanDuel, DraftKings Among Those Chosen for NY Mobile Betting

Mitsu Yasukawa/ Alex Brooks
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The New York State gaming commission has chosen two of the six bidders — or groups of bidders — that submitted proposals this past summer for mobile sports betting licenses.

A group formed by DraftKings, BetMGM, Bally’s, and FanDuel was chosen for one of the bids on Monday, with the other going to a group that included PointsBet, Caesars Entertainment, Wynn Resorts, Rush Street Interactive, Resorts World, and Kambi Group.

Fanatics, Penn National, Fox Bet, and bet365 were among operators who did not receive approval.

Each operator is required to pay a 51% tax rate to the state for 10 years — state tax revenue could reach $500 million by 2025, according to state comptroller Thomas DiNapoli. Sports betting has been legal in the state since 2013, but was limited to casinos.

  • Colorado recorded $2.3 billion in wagers in its first full year of sports betting.
  • New Jersey became the first state to hit $1 billion during a single month in September, reaching a total of $7 billion for the first nine months of the year.

“Once we enter the arena, we’ll eclipse New Jersey,” New York Sen. Joseph Addabbo Jr. said.

New York will become one of the largest states with mobile sports betting once the operators are set up, which Addabbo hopes will happen by the Super Bowl in February at the latest.

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