Are you interested in New York sports betting? The industry is still new, and you might have trouble finding the information you need to make informed wagers. This can greatly impact your budget. Luckily, we cover everything you need to know in this easy-to-understand guide.
Is online sports betting legal in New York? You’re about to find out!
🔑 Key Takeaways
- Learn about the best mobile sports betting app in New York.
- Discover sports betting and tax laws in New York.
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.
10 Quick Facts About New York’s Sports Betting Laws
Here are 10 of our favorite facts about New York:
- New York’s law: In 2013, sports betting was legalized in the state. This was done with the New York online sports betting bill 2013-S5883. Also known as the Upstate NY Economic Development Gaming Act, the bill approved widespread lawful commercial gambling and sports betting in the state.
- Legal age: Aspiring bettors in New York must be at least 21 years old before they can wager on their favorite teams. The New York sports betting age is non-negotiable! If you aren’t 21, you can’t bet.
- State borders: New York is a centrally located state with many shared borders. To the north, it is bordered by Canada and Lake Ontario. To the south, New Jersey, Pennsylvania, and the Atlantic Ocean all claim their spots along the state line. Lake Erie borders New York to the west and Vermont, Connecticut and Massachusetts lie to the east. All bordering US states have legalized sports betting in some form!
- Retail bookmakers: Retail sports betting is a popular pastime in the state. A respectable range of land-based providers enjoys success in New York.
- Taxes: New York has plenty of fun New York sports betting sites, but bettors should prepare for steep taxation on their winnings. Wins of more than $5,000 require the bookmaker to withhold 24% of the total win in taxes. Also, the state’s income tax also applies.
- Gaming Commission: Gambling in New York is governed by the New York State Gaming Commission, which is often referred to as the NYS Gaming Commission. It was created in its current form in 2013 when it took over responsibilities from the Division of the Lottery and Racing and Wagering Board.
- Bingo fans: While residents must be at least 21 to bet on commercial gambling and sports betting, they only need to be 18 to play bingo. The maximum bingo prize in the state is $15,000.
- NYC casinos: Resorts World Casino was New York City’s first physical casino. It was built roughly a decade after some forms of gambling were legalized in the state in 2001.
- Rich history: The Seneca Native American tribe owns many of the retail sports betting and commercial casino gambling locations in the state of New York. Now known as the Seneca Nation, it was once the largest of the Six Nations*.
*The six Native American nations comprise the Iroquois Confederacy, a democratic government predating the US Constitution. - Impressive population: New York City, the capital of the state, is one of the most densely populated areas in the US. It is also the most populous city with nearly nine million residents. A number of New York residents have served as US Presidents, including John F. Kennedy, Franklin D. Roosevelt, and Theodore Roosevelt.
How to Bet on Sports in New York?
There are a few different moving parts to keep in mind when starting in the New York sports betting industry. I remember how time-consuming it was to figure out exactly how to bet on sports, so I’ve created this mini-guide so that you don’t have to dig as deep as I did.
Here is a step-by-step to get you started:
- Pick your bookmaker: Are you looking for New York mobile sports betting, or are you interested in a more traditional experience? Regardless of the answer, you need to find the perfect provider.
- For retail sportsbooks, do some research into well-reviewed providers that are local to your area.
- Online sportsbooks take a bit more time to assess. Look for trustworthy names regulated by the state.
- Create your account: The next step is to register and verify your account. Make sure that you have your state-issued ID handy whether you’re opening an account in person or are making use of New York online sports betting. You will need to verify your identity before you can bet.
- Fund your account: Once you’re registered, it’s time to fund your account. You can do this via cash or card at retail locations and bank transfers and cards, among a few other choices, at online bookmakers. Make sure that you check out the available New York sportsbook promos before you make your first bet!
- Place your bets: Pick the time or event you want to follow, decide how much money you can safely spend, and pick the bet type that works for you. Enter the information on your bet slip (online or in person) and then hand it over/submit it.
That’s it! You’ve just made your very first foray into New York sports betting.
Top New York Sports Betting Sites and Apps
We mentioned this briefly in the mini-guide to sports betting above, but it’s a crucial step in your New York sports betting adventure. Finding the right online sportsbook should be your primary objective. Look for long-term providers that are regulated and approved by the state.
If you aren’t sure where to begin, don’t worry. We’ve put together a list of three of our top New York sports betting apps along with some information about them.
BetMGM Sportsbook
- Welcome Offer: Up to $1,500
- Minimum Deposit: $5
- Wagering Requirement: Wager up to $1,500 at most and if you lose your first bet, gain your wager back in bonus bets.
MGM New York sports betting is a fan favorite, and for good reason. The online sportsbook is an extension of a long-time casino chain with locations all around the world. Trust in online providers is important, and it’s hard to get more trustworthy than BetMGM Sportsbook.
Before you start betting with this excellent operator, make sure to check out the welcome offers. BetMGM has some of the best New York sports betting promotions around. Its welcome offer consists of up to $1,500 in bonus bets if your first bet loses. The amount of bonus funds you receive equals the amount you bet.
Example: Let’s say that you bet $500 on your first bet and lose. You will automatically receive $500 in bonus credits. These are added to your account.
DraftKings Sportsbook
- Welcome Offer: Up to $150
- Minimum Deposit: $5
- Wagering Requirement: $5 minimum bet and bonus bets credited automatically.
No list related to online New York sports betting would be complete without DraftKings Sportsbook. It’s one of the most well-known sportsbooks in the world, and its presence in the US is rapidly growing. Fans around the country have found a lot to love about this bookmaker.
DraftKings offers an excellent welcome bonus to new users. It’s a pretty straightforward offer, so you don’t have to guess at the terms and conditions. Simply deposit at least $5 into your account after registering and place a bet of at least $5 in any market. Whether you win or lose, you automatically receive $150 bonus bets credited to your account.
FanDuel Sportsbook
- Welcome Offer: Up to $150
- Minimum Deposit: $5
- Wagering Requirement: $5 minimum on winning wager
Yet another mainstay of New York sports betting sites is FanDuel. This is another provider with a reputation for honest, fair policies. If you’re interested in a trusted bookmaker with an immense number of sports markets, both domestic and international, then FanDuel Sportsbook might be the best choice.
You don’t have to use any New York sports betting promo codes to take advantage of FanDuel’s welcome offer. Simply deposit at least $10 and place a wager of $5 or more. If your wager wins, you automatically receive $200 in bonus bets! If it loses, you are not eligible for the funds.
Popular Sports and Teams in the New York Betting Scene
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.
On their official website, the Bills offer a story from two very special fans, Regan and Peck, who travel across the country each year to watch their favorite team play:
Regan makes the nearly 6,000-mile round trip to Orchard Park to watch Bill’s games consistently throughout a season, and even makes a point to visit Fisher to see the team practice.
Peck, who was born and raised in Cheektowaga, New York, but now also resides in Southern California, has similarly been a Bills fan since she was born. Bonding over their love for the team, the two forged an immediate friendship.
“She had her Bills stuff on and I had mine”, said Regan of Peck when they first met.
If you’re a Bills fan, you’re instant family. That’s how it works.
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.
Caesars Sportsbook, which is approved and regulated by the state of New York, discusses this concept in a bit more detail via comparisons of the Bills and Buccaneers:
The Bills are tied with the Buccaneers for the highest NFL regular season win total at 11.5… The big key to Buffalo’s success will be signal-caller Josh Allen. Allen is the +700 favorite for NFL MVP and is first in tickets (10.6%) and second in handle (12.4%) to be given the award… biggest Allen MVP wager comes from an Indiana bettor who plopped $3,000 on Allen at +900 for a potential win of $27,000.
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.
Upcoming Events
What are your favorite sporting NY events? We make it a priority to stay up to date with the latest and greatest events in a wide range of sports. Our goal is to make sure that you don’t miss a thing.
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.
- Commercial casino gambling: We’ve already discussed casino betting in New York. You can bet at commercial casinos that are licensed and regulated by the state on games such as slots and live table games. You can do this at retail locations or via online casino providers.
- Horse racing: Also 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
Maximizing Your Bets
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.
Tips and Strategies for New York Bettors
If your goal is to get the most out of your money, you should be considering your wagers carefully. Making choices in the heat of the moment might be temporarily satisfying but can lead to lost 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. This is something that I really struggled with when I started betting. 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!
Understanding Taxes and Payouts
New York sports betting tax rules are succinctly explained by Medows CPA, PLLC, a well-known accounting firm in the state:
If you win $5,000 or more at a gambling venue, the proprietor of the venue will withhold federal taxes at the current tax rate of 24 percent… However, you can’t assume that is the only tax you will owe on your winnings.
There may also be a state tax assessed… Depending on your income, if you are in a higher tax bracket, you will still have to pay any additional taxes when you claim your sports betting win as part of your income.
Medows CPA also notes that wins of $600 or more automatically trigger a Form W-2G. This is sent directly to the IRS, so make sure that you claim your winnings accordingly.
→ For more information about how to pay taxes on sports betting, refer to our guide!
What About Physical Sports Betting Locations?
Our top three physical sports betting locations in New York include:
- Point Place Casino in Bridgeport
- Seneca Buffalo Creek Casino in Buffalo
- Resorts World Catskills in Monticello
Of these, Point Place is among the most popular. You can enjoy various forms of gaming, fantastic entertainment, and superb food and drink there.
Great place. The staff is so friendly and polite. I’ve only been there twice, and they already remembered and greeted me during my second visit. Everyone is in good spirits whether they’re winning or losing, and it’s a positive vibe all around.
Fun place and I’ll definitely go again.
A regular customer
So, Will You Bet from New York Tonight?
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!