New York state education officials announced on Tuesday that they are opening the bidding process for a new license to operate a mobile sports betting firm. The news was first reported by the Albany Times Union, and the state’s Gaming Commission is soliciting bids from companies that are interested in creating a mobile sports betting app. The new license would be similar to the one that NYSGC received, allowing it to offer betting on horse races via a mobile app. While the app will be offered to residents of New York state, such bets are illegal in the state of New Jersey.
On Monday, the New York State Gaming Commission (NYSGC) announced that it had received a total of 30 applications for sports wagering licenses, up from the 27 applications it received in 2017. The NYSGC has now issued approval letters to 15 applicants for the state’s first-ever sports wagering licenses. The most recent group of approved applicants include: – Betfair Sportsbook, which already operates mobile sports wagering apps at its brick-and-mortar sportsbooks in London, England; – DraftKings Sportsbook, which operates mobile sports wagering apps in the U.S. at its DraftKings.com and RotoGrinders.com websites; – FanDuel Sportsbook
New York sports betting regulators have revealed some of the terms and conditions under which sports betting companies will be able to bid on New York’s licensed sportsbooks in a new report.. Read more about what is mobile sports betting and let us know what you think.
The New York State Gaming Commission wants to see a well-balanced sports betting market on a state level, including mobile sports wagering. With the aid of a long question-and-answer session, the commission recently revealed additional information. It was centered on the RFP for mobile betting providers, which will be released on July 9.
The month of July was significant for the local sports betting industry, as it witnessed the approval of a long-awaited Request for Application seeking two platform suppliers. After an early hiccup, the procedure has resumed, and submissions are now being sent. One of the key requirements is that the two suppliers collaborate with a minimum of four gambling operators.
The gaming commission decided to provide as much as 29 pages of responses since more information about the process was required. One of the most significant issues addressed concerned prospective suppliers and the amount of bids they may submit. As previously stated, operators and platform providers are permitted to submit multiple bids throughout the Request for Application period.
They are not, however, permitted to submit offers in conjunction with other bidding parties. They may do so in order to stay inside a certain tax bracket. It should be emphasized that estimates indicate that the local mobile sports betting market may have a 60 percent revenue share, and that such a combination would be detrimental to the local market. Another issue that interested bidders wanted to learn more about was how private data will be handled.
Private information on the operators should not be made public, they have previously said. Within the bidding procedure, the Request for Application needs such information. The gaming commission said unequivocally that application partners should handle this problem between themselves. Parties bidding together must handle sensitive information in the way they see fit.
The Q&A also aimed to answer the question of bid scoring, a topic that worries some bidders. However, not much details were given by the commission. Those available publicly make it clear that a revenue share up to 50 percent adds 15 points to a given bid. No information regarding potential renewal steps was given as well. As for the sports betting field in its current form, the New York Gaming Commission recently issued a revenue report.
It indicates a 23 percent increase in gaming income in the month of May. In contrast to April’s performance, this increase was noticed. In May, total sales hit $1.6 million, which was a major step in the right direction. The government licenses and regulates the four commercial land-based casinos that now allow in-person sports betting. Rivers Casino and Resort in Schenectady is the best-performing casino, raking in US$641,102.
Waterloo’s del Lago Resort and Casino comes in second with US$555,855 in revenue. The third-best performing casino was Resorts World Catskills, which earned US$307,607. This is New York State’s newest casino resort, which is situated in Monticello. Over the course of the month of May, Tioga Downs Casino in Nichols had a profit of US$85,550.
Source: Wayne, Jacob. “New York Sports Betting Update: Gaming Commission Releases Q&A“, LineUps.com, July 26, 2021
New York state gaming regulators have provided some more details about their plan to let New Yorkers gamble on their cellphones. People would be able to bet on up to three sports (hockey, football, and basketball) and two other casino games (blackjack, pai gow, and roulette), for a total of nine ways to bet.. Read more about new york sports betting mobile and let us know what you think.
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