The Top New York Sportsbooks
After launching online sports betting in January 2022, New York sportsbooks have seen the third-highest handle out of any state in the country. The fastest-growing sports betting market by far, New York has already taken in over $35 billion in betting handle in just two years, puttig it only behind New Jersey and Nevada.
With such a hot market, there is no surprise that there are already nine legal licensed New York sportsbooks. The biggest names in the betting industry have moved into the Empire State, with more surely on the way.
Our team of betting experts have ranked the best New York sportsbooks and apps for players in the state. We have focused on a number of factors including the player experience, betting markets, best odds, payment types, bonuses, and more.
Which Sportsbooks are Legal in New York?
Here’s a list of the licensed online sportsbooks available in New York:
- Bally Bet
- BetMGM
- BetRivers
- Caesars Sportsbook
- DraftKings
- FanDuel
- PointsBet
- Resorts World Bet
- WynnBET
The Legalization of New York Sportsbooks
In November 2021, the New York State Gaming Commission greenlit two proposals for online sports betting within the state. These proposals were unique in that they were joint efforts from two collectives of sportsbooks, who banded together to make their bids more appealing to the commission.
This collaboration led to nine distinct brands receiving approval to kick off online sports betting in New York. Each of these brands agreed to contribute 51% of their revenues as state taxes. The launch of these apps began on January 8, 2022, with the initial rollout featuring four apps. The remaining five gradually made their debut in the subsequent weeks and months.
New York Sportsbooks Bonuses
With nine active New York sports betting sites and more on the way, the operators offer players enticing sign-up and deposit bonuses to get them in the door. These bonuses start at $150 in free bets and go all the way up to $1,500 in bonus funds for new players looking to find their new sportsbook.
To help retain players, the top New York sportsbooks also offer a variety of daily promotions including free bets, odds boosts, loyalty points, and casino crossover bonuses. Finding the right sportsbook bonus is key to getting the most out of your betting experience.
Different Betting Types in New York Sportsbooks
With such heated competition in the New York sports betting market, the sportsbooks have been forced to keep innovating their product. This means that players can enjoy a lot more variety that the typical Moneyline and over/under bets.
The introduction of same game parlays in New York has been extremely popular among bettors. Player props and in-game microbetting, such as the result of the next pitch or basket, allow players to bet on literally every facet of a game.
As the sportsbooks continue to evolve, there will only be more interesting additions to the types of sports bets available in New York sportsbooks.
Strong Regulatory Framework in New York Sportsbooks
2001 took an optimistic turn when Governor Andrew Cuomo showed openness to incorporating mobile wagering into New York’s state budget. Facing a multi-billion dollar budget shortfall, Cuomo eventually warmed up to the idea of tapping into the revenue potential of legal sports betting in NY.
Cuomo leaned towards a lottery-style system with just a few operators, a model somewhat akin to what New Hampshire implemented. Yet, this approach might not be the most consumer-friendly. High taxation and limited competition could mean sportsbooks are less motivated to offer the best experience for bettors.
April 2021 marked a significant milestone, laying the groundwork for mobile betting in New York. The initial selection process resulted in nine sportsbook operators being chosen from two comprehensive bids. The first four apps were launched on January 8, just in time for the NFL Playoffs, signaling a new era in New York’s sports betting scene.
How Do New York Sportsbooks Compare with New Jersey and Pennsylvania?
The sports betting scene in New Jersey is heavily influenced by its proximity to New York City. It’s estimated that around 25% of New Jersey’s sports betting handle actually comes from NYC, the nation’s most populous city.
While New Jersey boasts over two dozen sportsbooks, New York’s market is more contained, with only nine operators. Tax-wise, there’s a notable difference too. New Jersey imposes a 13.5% tax on mobile sports wagers, whereas New York sets a much steeper rate, requiring operators to hand over 51% of their sports betting revenue to the state.
Pennsylvania, known for its high tax rates and hefty sportsbook license fees, is somewhat overshadowed by New York’s even more stringent financial demands. NY sportsbooks face a $25 million application fee, which tops Pennsylvania’s previous national high of $20 million.
In Pennsylvania, each casino is tied to a single sportsbook brand, creating a more diverse landscape than what’s currently on offer in New York. This approach allows for a broader array of options for bettors in Pennsylvania compared to the more limited selection in New York.
