New York online sports betting

Welcome to the exciting world of New York sports betting, where the energy of the city meets the thrill of the game. Whether you're a die-hard fan or a casual bettor, New York offers a dynamic sports betting landscape that caters to all.

Best NY sports betting sites

With numerous NY sports betting sites available, it can be overwhelming to choose the right one. Our experts have reviewed and tested the available platforms to bring you the best NY sports betting sites for a seamless and enjoyable betting experience.

Caesars New York

Caesars has established itself as a premier destination for New York sports bettors. Launched with the promise of providing a regal betting experience, it has lived up to its name with a generous rewards program and a wide range of betting markets. The platform's standout feature is its integration with the Caesars Rewards program, allowing bettors to earn and redeem points for every wager they place.

Popular promos on New York betting sites

In the competitive world of New York sports betting, operators roll out an array of promos to attract and retain bettors. These promotions can significantly enhance the betting experience and provide added value. Here are some of the most popular NY sportsbook promos:

• Welcome Bonuses: These are typically offered as a match to your first deposit, giving you extra funds to bet with.
• Second chance bets: Some sites will refund your first bet if it loses, up to a certain amount, ensuring a second chance at winning.
• Odds Boosts: Enhanced odds for specific events offer higher returns on bets than the standard odds.
• Loyalty Programs: Earn points for your bets that can be redeemed for free bets, cash, or other rewards.
• Referral Bonuses: Get a bonus when you refer a friend and they sign up and place a bet.

Popular NY sports teams you can bet on online

New York is home to some of the most iconic sports teams in the country, and online betting sites offer a wide range of options for placing wagers on these teams. Here are some of the popular New York teams bettors love to support:

• New York Yankees (MLB): One of the most successful teams in baseball history, the Yankees are a perennial favorite for bettors.
• New York Knicks (NBA): With a passionate fanbase, the Knicks games are always full of betting action.
• New York Giants and New York Jets (NFL): Both teams have a strong following and are popular choices for NFL betting.
• New York Rangers (NHL): Hockey bets surge when the Rangers hit the ice, with fans eager to back their team.
• New York City FC and New York Red Bulls (MLS): Soccer is gaining popularity, and these teams are at the forefront in NY.

Who regulates online sportsbooks in New York?

The oversight of NY online sportsbooks falls under the jurisdiction of the New York State Gaming Commission. This authoritative entity is tasked with the governance and enforcement of gambling regulations across the state, encompassing the realm of online sports wagering. Their role is critical in maintaining a secure and equitable betting landscape, mandating that all licensed operators comply with rigorous standards.

Land-based sports betting locations in New York

Aside from online betting, New York also offers several land-based sports betting locations. These are often found in casinos and racetracks across the state, providing a traditional betting experience. There are currently 11 such venues where bettors can place their wagers in person.

Do you need to pay taxes on sports betting wins in NY?

Yes, if you're placing bets in New York and happen to be lucky enough to win, the Internal Revenue Service (IRS) and New York State Department of Taxation and Finance will want a piece of your winnings. All gambling winnings, whether they are from an online sports betting site, casino, lottery, or even a game of bingo, are considered taxable income.

Here's what you need to know about paying taxes on sports betting wins in New York:

• Federal Taxes: The IRS requires all gambling winnings to be reported on your tax return as "other income." Sports betting wins are subject to a flat 24% federal withholding tax if the winnings, minus the wager, are above $600 and at least 300 times the amount of the bet. If you do not provide your Social Security number, the withholding rate is 28%.
• State Taxes: New York State taxes gambling winnings at varying rates depending on the total amount of your income. This state tax is in addition to the federal tax. The rates can range from 4% to 8.82%.
• Reporting Smaller Wins: Even if your winnings are below the threshold for withholding, you are still legally required to report all gambling winnings on your tax return.
• Form W-2G: You may receive a Form W-2G from the gambling establishment if your winnings meet certain criteria. This form will detail the amount won and any taxes withheld.
• Deducting Losses: You can also report gambling losses as an itemized deduction on your tax return, but only up to the amount of your winnings. You'll need to keep detailed records of your gambling activity to claim this deduction.

It's important to keep in mind that tax laws can be complex and may change, so it's always a good idea to consult with a tax professional if you have significant winnings to ensure you're complying with all tax obligations and taking advantage of any applicable deductions.

History of NY sports betting

The journey of legal sports betting in New York has been a dynamic and evolving landscape, marked by significant milestones that have shaped the current state of wagering in the Empire State. Here's a brief introduction followed by a timeline of the pivotal moments leading up to the legalization of sports betting in New York:

• 2013: New York voters approved a referendum for casino expansion that included sports betting, leading to the construction of new casinos, while Sen. Adams reintroduced his sports betting bill, and other similar bills by Weprin and Avella failed to advance.
• May 2018: The US Supreme Court strikes down PASPA, granting states the power to legalize sports betting. New York's 2013 law now enables it to proceed with legal sports wagering.
• July 2019: Rivers Casino in Schenectady accepts the first legal sports bet, marking the official start of legal sports betting in the state.
• January 2021: Governor Andrew Cuomo announces his support for online sports betting in New York, a significant shift in position that propels legislative action.
• April 2021: The New York legislature approves a budget that includes a framework for online sports betting, with a unique model that differs from other states.
• November 2021: The New York State Gaming Commission announces the operators that will be granted licenses for mobile sports betting.
• January 2022: Mobile sports betting goes live in New York, with four operators launching on the first day, making it one of the most significant launches in the history of US sports betting.

FAQ

Are there any sports betting apps in New York?

Nine licensed operators offer NY sports betting apps. These apps allow users to place bets, manage their accounts, and withdraw winnings from anywhere within state lines, provided they meet the legal age requirement of 21 years or older.

Who can bet on sports in New York?

To legally bet on sports in New York, you must be at least 21 years old. Additionally, you must be physically located within the state boundaries when placing bets, as verified by the betting app or website's geolocation software. It's not required to be a resident of New York; visitors can also bet as long as they are within the state when the bet is placed.

Can I bet on Daily Fantasy Sports in NY?

Yes, Daily Fantasy Sports (DFS) are legal and operational in New York. Major DFS operators such as DraftKings and FanDuel allow players to create fantasy teams and enter various contests. The legality of DFS in New York has been subject to legal challenges, but as of the last update, it remains a legal activity within the state.

Am I allowed to bet on college sports in New York?

Betting on college sports is permitted in New York but with certain restrictions. Bettors cannot place wagers on collegiate events that take place in New York or on college teams based in New York, regardless of where their games are played. This means you cannot bet on teams like the Syracuse Orange or the Buffalo Bulls when they play in or out of state.

Can I bet on any sport in NY?

While New York offers a wide range of sports betting options, there are restrictions. Bettors can place wagers on most professional sports, including football, basketball, baseball, hockey, soccer, and more. However, New York prohibits betting on high school sports and certain events such as elections or award shows.