Mobile Sports Betting to Launch By Super Bowl LVI
Governor Andrew Cuomo added sports betting to the 2022 fiscal budget for New York. On Wednesday, he signed that bill into law, officially legalizing mobile sports betting. With online sports betting legal, the state looks forward to a launch date, which will likely be around the Super Bowl. The big trick now will be getting citizens to start using legal sportsbooks and stick with them.
Online Sports Betting Officially Legal in New York
On Wednesday, NY Governor Andrew Cuomo signed the 2022 budget into law. This signing means that online sports betting is now officially legal in the state. At one point, it appeared that sports betting was dead, but a last-minute deal between lawmakers and the governor saw mobile sports betting added to the bill.
When it was announced that sports betting was added to the budget, the initial timeline to launch was set around the start of the 2021 NFL regular season. Odds are that won’t happen. A much more realistic timeline sees mobile sports betting launching by the Super Bowl in 2022.
According to Senator Joseph Addabbo Jr., “You don’t want to miss out on another Super Bowl. I think this would be a good benchmark for New York to see how we’re doing,” Under this much more realistic timeline, the state’s gaming commission will now have until the end of the year to select at least two operators to offer mobile sports betting.
Lawmakers and those serving on the gaming commission know that any providers they select will need to be world-class as the state has a lot of competition. Neighboring states of New Jersey and Pennsylvania have been online for a couple of years and there are plenty of illegal offshore sportsbooks that NY citizens still frequent.
Lawmakers Asking Citizens to Stick With NY Sportsbooks
One challenge of growing the mobile sports betting market will be getting players to gamble with legal sportsbooks and stay there. Sen. Addabbo spoke on this, stating, “We’re asking New Yorkers to do two things. One, stop what you’re presently doing with mobile sports betting, such as using offshore sportsbooks or crossing over into New Jersey. Get out of your comfort zone and use our product.”
Next, he wants citizens to stick with legal sportsbooks. He says, “This is all doable if you have a really good product. I appreciate the New York Gaming Commission for looking for those premium providers and skins. I’m optimistic we’ll have a great product for our users,”
How New York Can Establish Its Mobile Sports Betting Market
If New York is serious about gaining and retaining its citizen’s trust in legal sportsbooks, they need to take the steps necessary to do so. For starters, the sportsbooks need to offer all of the same action that sports bettors are currently getting in other states or offshore. Don’t launch a limited product that instantly handcuffs bettors.
Next, give players odds that entice them to stick with legal sportsbooks. Many times, a bettor is going to gamble where they can get the best odds. The better the odds, the more money you can make in the long term.
Lastly, make it insanely easy to deposit and cash out from legal sportsbooks. If you make it to where players don’t have to jump through as many hoops as they do with offshore sportsbooks, they will give you a shot. Look at real money online casinos as an example. Casinos that offer numerous options for deposits will draw more players than those that offer limited deposit options.
If New York approaches the market smartly, it will quickly establish itself as the premier state for sports betting, quickly eclipsing New Jersey.