New York Online Sports Betting Guide 2024
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Online sports betting is legal in New York, opening up a world of opportunities for enthusiastic bettors. If you’re eager to dive into the state’s burgeoning sports betting scene, it’s essential to arm yourself with the right information to make informed wagers. Our comprehensive guide covers everything you need to know, ensuring you can confidently navigate the legal landscape of NY sports betting.
🔑 Key Takeaways
- Learn about the best mobile sports betting apps in New York.
- Discover sports betting laws and regulations in New York.
Top New York Sports Betting Sites and Apps
New York boasts 9 licensed online sportsbooks in the state, giving sports bettors plenty to choose from when it comes to betting markets, unique features, as well as generous NY sportsbook promos.
Here is our top 5 list:
Is Online Sports Betting Legal in New York?
New York sports betting is legal, but both the retail and online markets are fairly new. Retail (in-person) gambling launched in 2019, while online gambling wasn’t launched until 2022. The market is an interesting one as, similar to New Jersey, the state of New York approved gambling in bits and pieces over a few decades.
New York’s state lottery began in 1967. This was the start of betting in the state, and off-track betting quickly followed. It wasn’t until 2001, however, that some casinos were made legal.
In a bid to raise money post-9/11, New York allowed several Native American casinos and even approved the installation of video lottery terminals in racetracks, essentially transforming them into ‘racinos’.
Gambling legislation paused after the 2001 ruling. A decade passed before the Upstate NY Economic Development Gaming Act was presented to voters, with the aim of legalizing full casinos in the state. It passed with flying colors and permitted up to four commercial casinos in upstate New York.
That same year, on July 30, 2013, then-Governor Cuomo signed the Act into law. Just like that, New York joined the number of legal online sports betting states in the US.
Quick Facts About New York’s Sports Betting Laws
| Legal Online Sports Betting Launch Date | January 8, 2022 |
| State Regulator | New York State Gaming Commission |
| Legal Age | 21+ |
| Number of Licensed Bookmakers | 9 |
| Retail Betting | ✅ |
| Horse Racing | ✅ |
| Daily Fantasy Sports | ✅ |
| eSport Betting | ❌ |
| College Sports Betting | ✅ (out of state only) |
| Taxes | Winnings over $5,000 are taxed at 24%; state income tax also applies |
How to Bet on Sports in New York
Getting started with sports betting in New York involves a few straightforward steps:
1. Pick Your Bookmaker: Do your research and decide on the online sportsbook(s) of your choice.
2. Create Your Account: Register and verify your account using a state-issued ID. This is necessary for both online and in-person betting.
3. Fund Your Account: Deposit funds using your preferred payment methods, be it bank transfers, debit cards, or e-wallets.
4. Place Your Bets: Select your event, set your budget, and choose your bet type. Enter your wager details on the bet slip, either online or in person, and submit.
Congratulations! You’ve successfully initiated your journey into New York sports betting.
Popular Sports and Teams to Bet on in New York
New York sports betting is a big industry, primarily because of the state’s love and loyalty for their favorite teams. The four most popular sports in the state echo those in other regions across the US:
- Football
- Baseball
- Hockey
- Basketball
Among the many teams that call New York (and its shared metropolis with New Jersey and Connecticut) home, the top are:
- Buffalo Bills (NFL)
- New York Yankees (MLB)
- New York Rangers (NHL)
- Brooklyn Nets (NBA)
In addition to professional sports teams, collegiate sports are also common in the state. In fact, the region has more than 20 NCAA Division 1 universities and colleges.
University at Buffalo is hands down the most popular university for NCAA teams. Its football team, the UB Bulls, is especially competent, though its swimming and volleyball teams, among others, are some of the best in their class.
Note: While collegiate sports are popular in New York, sports betting on collegiate teams and events is prohibited.
As any local can tell you, New York’s local teams have an immense amount of support. The Buffalo Bills, in particular, are well-known in the industry for having some of the most loyal fans in the state.
The Impact of Local Teams on Sports Betting
The way that a team performs has a direct impact on how sports bets trend. The same goes for popularity. Teams with a lot of brand-name appeal often fare better in sports betting, simply because everyone really wants them to win. Does that sentiment lead to smart bets? Maybe not, but it doesn’t change the fact.
As you can see, popularity and performance both impact betting odds and trends. Teams that perform higher and have popular, competent players often score much better odds than those that don’t.
Are There More Gambling Options in New York?
If you’re interested in spreading your betting wings into other industries in New York, you might consider commercial gambling and horse racing. Both of these activities have plenty of fans throughout the state and offer bettors a unique gambling opportunity.
- Retail Sportsbooks: New York offers several prominent physical sports betting locations, including Point Place Casino in Bridgeport, Seneca Buffalo Creek Casino in Buffalo, and Resorts World Catskills in Monticello. Point Place is notably popular among bettors.
- Commercial Casino Gambling: Bet online or at retail locations offering classic casino games such as slots and live table games.
- Horse Racing: A popular betting activity in New York, The New York Racing Association (NYRA) operates the three largest horse racing tracks in New York:
- Aqueduct Racetrack in South Ozone Park in Queens
- Belmont Park in Elmont
- Saratoga Race Course in Saratoga Springs
- Daily Fantasy Sports: Daily fantasy sports (DFS) have been legal and regulated in New York since 2016. Leading platforms like FanDuel and DraftKings Fantasy dominate the DFS space, providing ample opportunities for enthusiasts.
Tips and Strategies for New York Bettors
Now that you have some information about New York sports betting and how to enter the industry, it’s time to learn a few tips and tricks to maximize your money.
- Before you wager, do some research into the team or sport in question. Who are the top performers? How has the team fared in the past? Use this information to guide your bet.
- You should always have a budget ready when you sit down to bet.
- Make sure that you use a separate account for this if you are easily swayed by emotion. A separate account makes it harder to spend money beyond the budget you’ve set.
→ Would you like to learn how to become better at sports betting? We’ve got you covered!
New York Sports Betting Taxes
Understanding the tax obligations for sports betting is crucial for all bettors. In New York, if your winnings reach $5,000 or more from a gambling venue, expect the proprietor to withhold federal taxes at a rate of 24%. However, don’t overlook the potential state taxes that may apply, especially if you’re in a higher income bracket. It’s essential to include your sports betting wins as part of your income when filing taxes.
For any winnings over $600, a Form W-2G will be automatically generated and sent to the IRS, so be sure to claim these earnings accurately. Additionally, mobile and online sportsbooks are taxed at a substantial 51% rate on gross gaming revenue, while land-based sports betting is subject to a 10% tax rate.
Ready to Place Your Bets in New York
Now you have all the information you need to start your New York sports betting journey. Whether you’re picking your bookmaker or are considering bet amounts, the tips, and strategies we share can guide you to smarter choices.
Are you interested in learning more about sports betting in the US? Take a look at some of the betting tools we have to make the process easy!
