New York State Senator Joseph Addabo believes New York could take its first mobile wagers by mid-January, after the New York State Gaming Commission approved a final set of rules for the channel.
Earlier this month the tender process to select mobile licensees concluded, with two bids, involving nine operators, recommended for licenses.
This has seen a FanDuel-led consortium also featuring DraftKings, BetMGM and Bally’s Corporation selected, as well as a Iambi-fronted group of Caesars Digital, PointsBet, Resorts World, Rush Street Interactive and WynnBet. No operators were permitted to launch until the rules, which were first approved in August, were finalized.
Addabbo said the last step before the nine would be able to launch activity was to negotiate the location of the mobile betting servers, which will be located in the state’s land-based casinos.
Addabbo praised the Gaming Commission for completing and posting the mobile betting rules ahead of schedule, while urging rapid progress on the server question.
“As we complete each important step towards offering our residents a premier mobile sports betting product in New York, we must focus on getting the servers negotiated, so that they’re up and running at the approved casinos in order to take the first New York mobile sports bets for some time in January,” he said.
“I look forward to getting this anticipated operation off the ground and bringing New York successfully into the mobile sports betting arena.”
A number of key conditions, such as the 10 year duration of licenses and the $25m fee were already known, while a tax matrix published in October set out a 51% gross revenue tax rate.
This gross revenue figure will be calculated as handle minus voided bets, cancelled wagers and payouts to players, and will be due on a weekly basis.
Key staff will have to be licensed in order to work for a mobile sports betting operator, while promotional offers must also be cleared by the Commission before they can be launched.
Consumers will be limited to one mobile sports betting account per skin, and subject to extensive Know Your Customer (KYC) checks before they can bet. Accounts can be funded by a host of payment options, including credit cards, though there will be a $2,500 annual limit for this form of payment.
Safeguarding must also be put in place for customers, including deposit limits, while tools and messaging must be prominently displayed on operators’ sites.
Confirmation of the approved rules comes after Addabo this week introduced a new bill seeking to let the state’s racetracks and stadiums participate in the regulated mobile betting market.
Senate Bill 7536 would allow for agreements between mobile sports wagering operators and an off-track betting corporation, professional sports stadium or arena, franchised corporation or licensed racetrack to place self-service mobile sports betting kiosks at venues.
In addition, the operator of video lottery terminals at the Aqueduct Racetrack in Queens – Resorts World – would also be able to install kiosks within the facility.