• Loading stock data...
Monday, October 6, 2025

New York Tentatively Approves Online Sports Betting

  • New York is legalizing online sports betting.
  • However, wagering will come at a cost.
Office of the Governor NY/Design: Alex Brooks

New York is legalizing online sports betting, but wagering will come at a cost. 

Backed by Gov. Andrew Cuomo, a tentative agreement has been reached to allow online sports betting in the state, but through a model that is lottery-run and limits the number of sportsbooks. The agreement will be passed as part of New York’s $200 billion fiscal year 2022 budget. 

More on New York’s lottery-run plan:

  • Only one or two sportsbooks would operate online betting in the entire state.
  • There will be a higher tax rate than the 12% seen in NY casinos. 
  • State tax revenue would reach about $500 million annually.

New York first legalized sports betting in 2013 but limited action to casinos. A federal case in 2019 expanded betting to retail sportsbooks, but now New Yorkers will be able to indulge from their phones or computers.

“We hope everyone in our state who has been spending money in New Jersey or Pennsylvania or perhaps illegally will try us and stay with us,” Sen. Joseph Addabbo told The Action Network. 

Last year, New Jersey saw a sports betting handle of $6 billion, while Pennsylvania funneled $3.5 billion through its sportsbooks. Online sports betting could potentially make up 90% of New York’s betting handle. 

DraftKings and FanDuel could be front-runners to operate mobile betting in New York, according to Cuomo.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

NYCFC’s New $780M Queens Stadium Comes With Jab at Red Bulls

The MLS club progresses on developing its new stadium in Queens, N.Y.

PrizePicks Sells $1.6B Stake, Launches Prediction Markets Business

PrizePicks’ CEO believes it is “the next $40 billion company in the U.S.”

Ryder Cup: Secret Service Key to Smooth Trump Attendance

Trump’s attendance at the US Open delayed the men’s final.
exclusive

Stan Verrett Joining FanDuel Sports Network in Multiple Roles

The former ESPN “SportsCenter” anchor has found a new home.

Featured Today

Paul Cartier

Sports Organists Are Still Thriving in the Era of Raucous Arena Music

“When they walk out and they see a real organ guy, it’s like, ‘Wow.’”
Sep 27, 2025; Milwaukee, Wisconsin, USA; Milwaukee Brewers center fielder Jackson Chourio (11) rounds the bases after hitting a home run during the sixth inning against the Cincinnati Reds at American Family Field.
October 4, 2025

Milwaukee Moneyball: Brewers Are Beating MLB’s Deeper Pockets

Milwaukee is holding its own against big-budget competitors.
Kōloa Rum Company Rum Rusher
September 27, 2025

Panthers Bubbly, Jets Wine, Manning Whiskey: The Sports Booze Boom

A sommelier dives into the sports booze trend—and tries Jets wine.
Nov 17, 2024; Pittsburgh, Pennsylvania, USA; Pittsburgh Steelers fans wave Terrible Towels against the Baltimore Ravens during the fourth quarter at Acrisure Stadium
September 26, 2025

Steelers’ Irish Roots Are Deeper Than NFL Dublin Game

The Steelers have history and the foundation for a future in Ireland.
Sep 18, 2025; Orchard Park, New York, USA; Buffalo Bills quarterback Josh Allen (17) runs the ball against the Miami Dolphins in the second half at Highmark Stadium.
exclusive

Kalshi, Polymarket Sought to Buy Prediction-Market Platform Novig

Novig is available in close to 40 states.
Sep 8, 2025; Chicago, Illinois, USA; Chicago Bears quarterback Caleb Williams (18) rushes the ball past Minnesota Vikings safety Theo Jackson (26) during the second half at Soldier Field.
exclusive
September 10, 2025

Americans See Little Difference Between Prediction Markets and Betting

A survey found 85% of respondents believe sports event contracts are gambling.
September 12, 2025

FanDuel, Jaguars Reach $5M Deal Over Employee Theft

A Jaguars employee stole $20 million and gambled much of it with FanDuel.
Sponsored

How Soccer Star Jozy Altidore Became a Buffalo Bills Owner

Jozy Altidore discusses building a business legacy off the field.
Sep 4, 2025; Philadelphia, Pennsylvania, USA; Philadelphia Eagles cornerback Adoree' Jackson (8) tackles Dallas Cowboys wide receiver CeeDee Lamb (88) during the third quarter of the game at Lincoln Financial Field.
September 5, 2025

Kalshi’s $27M NFL Opener Runs Into Tribal Challenge

California Tribes want Kalshi forced to implement geofencing.
Eagles
September 4, 2025

FanDuel Paying $80K for Eagles Trains Amid Transit Funding Fight

The gambling company is giving stopgap transit funding in Philadelphia.
Sep 1, 2025; Chapel Hill, North Carolina, USA; TCU Horned Frogs tight end DJ Rogers (0) catches a touchdown pass as North Carolina Tar Heels defensive back Kaleb Cost (21) defends in the fourth quarter at Kenan Stadium.
September 3, 2025

Polymarket Moves Closer to Reentering the U.S.

There’s yet more prediction markets momentum as the NFL season kicks off.
during the fourth quarter at Memorial Stadium in Clemson, S.C. Saturday, August 31, 2025.
September 2, 2025

Underdog Bets on Prediction Markets With Crypto.com Deal

Sports event contracts will be offered in 16 states.