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New York Online Sports Betting Becomes Law

After much delay and political fighting, New York online sports betting was finally signed into law by Governor Andrew Cuomo. Now, the real work begins. The goal is to have online and mobile sports bets fully regulated in time to let residents bet on the next Super Bowl. That means writing the rules, processing applications, and launching within nine months.

Once applications for running a web based sports book are submitted, the Gambling Commission will have 150 days to process them and select just two providers. Requests to submit applications to the state will come no later than July 1st, and those applications will go through a competitive bidding process to select the providers.

Those providers will pay the state a one-time fee of $25 million each, and their servers will be housed in a New York casino which will cost $5 million annually. You can read more about the logistics on New York online sports betting at Yogo Net.

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