New York Online Sports Betting Begins Saturday

New York Online Sports Betting Begins Saturday

NEW YORK (CBSNewYork) – It’s official – online sports betting can begin across New York state Saturday at 9 a.m.

State lawmakers believe it will generate hundreds of millions of dollars in revenue for New York, but many wan gamblers should take precautions.

As CBS2’s Andrea Grymes reports, New Yorkers looking to try their luck betting on sports no long have to travel upstate, or head across the river to New Jersey. All they have to do is head to their phone or computer.

Starting Saturday morning at 9 a.m., online sports betting officially begins in New York.

“The moment being here is really exciting,” said DraftKings North America President Matt Kalish.

The New York State Gaming Commission so far has approved four companies to take bets, including DraftKings, Caesars Sportsbook, FanDuel and Rush Street Interactive. It comes just in time for the NFL playoffs and the Super Bowl.

“I think we’ll see really tremendous engagement from day one. You know, our fantasy customers coming over to try the sports book, as well as new people to the platform all together,” Kalish said.

Here’s what you need to know from the gaming commission:

• Gamblers must prove they are 21 to place bets
• You can only bet on professional sporting events online – no casino games
• No betting on college teams, unless it’s a tournament like NCAA March Madness
• Any winnings above $600 will be treated as income and taxed
• New York state will collect 51% in taxes on revenue, some of which will go toward youth recreation programs and problem gambling programs

“This is something that for some people can cause problems, can become an addiction,” said Ashley Owen of the New York Problem Gambling Resource Center. “We are anticipating that more people are going to be in need of the services we offer.”

Services like counseling and support groups. Experts say if you are going to gamble, set a time to keep track of how much you time you spend betting, and set a limit on how much you can afford to lose.

Gamblers can set limits on platforms like DraftKings. The president says they will also send an alert or restrict an account if they detect any unhealthy gaming.

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January 08, 2022 at 03:21AM