New York Gaming Commission Approves Mobile Sports Betting Rules
The New York State Gaming Commission has approved new rules that will govern mobile sports betting in the state. The rules were unanimously approved at the Commission’s meeting earlier this week after a few changes were made to those that were published in July, together with a request for applications for providers.
The rules dictate that only platforms and operators that have been approved by the state through the request for applications process will be permitted. The licenses awarded from this process will then last for ten years.
Operators must ensure that responsible gambling information is displayed prominently on their websites, and they must also submit a problem gambling plan to the Commission. Furthermore, the rules allow for credit card deposits to gambling accounts, but players will not be allowed to deposit more than $2,500 per year using a credit card.
If an operator wishes to run a promotion, details of it must be sent to the Commission at least 15 days before it begins in order to receive approval. Furthermore, any servers used to process bets must be located in one of New York’s land casinos in order to keep sports betting in line with the state constitution. In addition, these casinos must be paid a hosting fee for housing the servers.
Last week, the Commission announced that there are six bidders for mobile sports betting licenses, including FanDuel, Kambi, bet365, FOX Bet, and theScore. A few additional details were also published about the bids. For instance, the bid put in by FanDuel would see DraftKings, BetMGM, and Bally’s enter the market as both platform providers and operators, with each planning to pay a 50% tax rate.
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