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New Jersey’s perch atop the legal sports betting market in the United States could come to an end now that New York has finally launched mobile sports betting.
Last weekend, four sportsbooks were given the approval to launch online betting operations in New York, with another five still waiting for final approval from the state. This is a big step for New York, obviously, but it could also have ramifications on neighboring New Jersey.
New York’s Effect on New Jersey
Since legalizing sports betting in the fall of 2018, New Jersey quickly ascended to the top of the sports betting market in the United States. Through early January of this year, the state has brought in $21.6 billion in sports betting revenue. That’s almost $2 billion more than second-place Nevada ($19.8 billion) and more than twice as much as third-place Pennsylvania ($10.9 billion).
New York is relatively new to the legal sports betting market, so it’s overall numbers pale in comparison to some of its neighbors. Since launching sports betting operations, the state has brought in $342.4 million in bets.
But, New York legalizing mobile sports wagering could have a huge effect on New Jersey’s totals. Eilers & Krejcik Gaming, a research firm, has estimated that in 2019, New York residents wagered roughly $837 million at New Jersey sportsbooks.
The reason for this is that New York City residents could easily hop across the water and into New Jersey to place legal sports bets. Before now, their only option to place a legal sports bet in their own state was to travel more than four hours to a land-based casino in Upstate New York. That’s not necessary anymore.
Who’s Live in New York?
As of last Saturday morning, four sportsbooks were approved to launch mobile sportsbooks in New York. They are Ceasars Sportsbook, DraftKings Sportsbook, FanDuel Sportsbook and BetRivers.
BetRivers wasn’t fully operational right away, though. Their parent company, Rush Street Interactive, said that they were still awaiting approval from the Google Play Store and Apple App Store to make their mobile apps available on devices. In the meantime, bettors would have to navigate to their website to bet, but it shouldn’t be long before their apps are fully functional.
New York regulators are still considering the applications of five other mobile sportsbooks — PointsBet, Resorts World, WynnBET, BetMGM and Bally Bet. It’s possible, then, that New York could have nine mobile sportsbooks up and running by the time of the Super Bowl on February 13.
Still, there’s much to be excited about in New York now that mobile sports wagering has finally been legalized.