Sports betting with the phone for the first time in New York since this weekend: Estimated $ 10 billion annually

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Mobile or online sports betting will be available for the first time in New York starting this Saturday morning, the state Gaming Commission announced yesterday.

It was an anticipated move, as it was not expected until mid-February. That means fans could place bets on the final week of the National Football League (NFL) regular season games and the upcoming playoffs and the Super Bowl, the largest American sporting event, which this year will be February 13.

The Gaming Commission said that four licensed mobile sports betting operators (Caesars Sportsbook, DraftKings, FanDuel and Rush Street Interactive) have been approved to accept sports bets from 9 am on Saturday morning. Another five more could be activated in the coming days.

New York estimates $ 10 billion worth of sports betting each year, with nearly $ 1 billion in expected earnings divided for the state and operators.

NY State has already received $ 200 million in licensing fees from mobile sports operators and the companies have agreed to pay a 51% tax on gross revenue, which far exceeds the gross in most other states where online sports betting is already legal.

Until now, state residents could only gamble at casinos in upstate NYC, and many NYC residents simply set up mobile accounts to place phone bets in neighboring New Jersey, the New York Post noted.

“This is a great moment. It’s a victory for New York State, ”said the State Senator Joseph Addabbo Jr. (D-Queens), Chairman of the Racing, Gaming and Betting Committee. “They will generate additional revenue for the state, including for education, and create jobs.”

He also said that there will be $ 6 million in annual funding for gambling addiction programs. Critics are precisely concerned that sports betting by phone is creating a generation of gambling addicts and destroy lives and pockets, much worse amid the leisure and unemployment accentuated in the pandemic. DraftKings promised to perform background checks to spot people who are making big bets to make sure they are not doing so beyond their means.

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