https://nypost.com/2021/11/02/new-york-expected-to-name-online-sp...

https://nypost.com/2021/11/02/new-york-expected-to-name-online-sports-betting-operators-this-week/


"New York is expected as early as this week to name at least two operators to begin offering online sports betting, according to a source familiar with the matter.Online sports betting is likely to be up-and-running before kickoff for this year’s Super Bowl, the source told The Post.The state is expected to choose at least two groups to begin online sports betting: the consortium of Bally Bet, BetMGM, DraftKings and FanDuel; as well as the group of Caesars, Wynn Interactive, Empire Resorts and Rush Street Interactive, according to people familiar with the matter.One of the remaining questions is whether New York awards a license to a third group — the team of rapper Jay-Z, Fanatics and Barstool’s Penn Sports Interactive."

"The companies selected by New York have agreed to fork over 51 percent of their profits to the state, according to a source familiar with the matter — a split that far outpaces the take in most states where online sports betting is legal.

Because of the state’s big take, bettors might see worse odds in New York than they do in other states, a source said, as operators look to juice profits.The unusually large profit-sharing split means the operators also likely won’t offer promotions to new gamblers in New York, the source close to one of the bidders said. Such promotions are seen often in national advertising.
“We won’t see any free bets,” the source said.

To compare, New Jersey online sports betting operators share 13 percent of their profits with the state. Connecticut charges operators 13.75 percent. Thirteen other states range from Iowa, which charges 6.75 percent, to Pennsylvania, which charges 34 percent."

"State Sen. Joe Addabbo, a Democrat who represents parts of Queens, said mobile sports betting is on track to be ready to go before the Super Bowl."