Tech

Mobile sports betting is now legal in New York State


You can now use your phone to bet on sports if you live in New York. CNBC report The state has legalized mobile sports betting since January 8. Many companies have placed bets at 9 a.m. Eastern, including DraftKings, FanDuel, Caesars Sportsbook and Rush Street Interactive. Five other companies (including BetMGM and WynnBet) have licenses, but have yet to meet the regulatory requirements.

The move comes after former New York Governor Andrew Cuomo change his mind Online sports betting. He sees this as an opportunity to keep more tax revenue and turn the state into the largest betting market in the US. New Jersey currently dominates US online gambling, with research firm Eilers & Krejcik noting that about a fifth of all revenue comes from the state.

However, any success can take some time. New York’s 51 percent tax on gambling revenue is much higher than New Jersey’s 13 percent, and that could prevent the Empire State from claiming the lead for years. However, it could be an important turning point— New York is clearly vast and influential, and the results of their efforts could influence attitudes toward mobile betting in the United States. states where this activity is still illegal.

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