Ny Legal Sports Betting
In 2013, a New York sports betting law was passed in anticipation of the Supreme Court removing federal restrictions on state-sponsored sportsbooks. In 2018, SCOTUS finally struck down the Professional and Amateur Sports Protection Act, giving the Empire State the ability to start operating sportsbooks. The 2013 New York sports betting law was very limited in scope, and because of this, new legislation is sure to be passed in the near future.
To fully understand how New York sportsbooks are able to operate in the state, we have outlined what you need to know about the New York sports betting law currently on the books. With our sports betting bill tracker, you’ll be able to keep track of any new bills coming to the floor, as well as learn of any new New York sports betting laws that get passed.
Although sports betting in New York is technically legal as law passed in 2013 decreed, federal law has prevented it from being properly realized. However, as of May 2019, lawmakers have taken big strides in moving forward with legislation to allow for a wider regulated sports betting industry, including the allowance of mobile sports betting. New York online sports betting and mobile betting As indicated, New York only authorizes retail sports betting at its commercial and tribal casinos. Obviously some lawmakers are looking to green-light regulated online wagering, which would help the state truly realize its billion-dollar revenue potential. New York is not the only state that could look to legalize sports betting in the near future. Virginia, Michigan, Maryland, and Missouri are just a few states that plan to legalize or launch sports betting in 2021. Company valuations will skyrocket if New York launched online sports betting in the near future. Jan 06, 2021 New York is set to become the most-populous state yet to allow mobile sports betting under a plan proposed Wednesday by Governor Andrew Cuomo. The governor, who faces a $16 billion budget gap.
The New York sports betting law, which was passed in 2013, outlines pretty basic things for the operation of sports betting in the state. Now, most of the bill contains information for the operators of these facilities, so we’ve gone ahead and picked apart the legislation in order to give you just the relevant parts of the 2013 New York sports betting law. If you’d like to take a look at the New York Economic Development Act yourself, it can be found under New York’s 2013 Consolidated Laws, Chapter 174, Article 13.
Title 8 of this law is especially pertinent to sports bettors in the Empire State. This part of New York’s sports betting law outlines where legal sports wagering can take place in the state. According to subsections (b & d), “(b) A sports pool shall be operated in a sports wagering lounge located at a casino.” “(d) An operator shall accept wagers on sports events only from persons physically present in the sports wagering lounge.”
These sections outline where and when sports betting can take place in New York. They have to be at a legally defined casino, of which there are four in the state. Subsection d specifically prohibits the use of online and mobile betting, as operators are only permitted to accept wagers from people who are present in person. Further down in New York’s sports betting law, you’ll find a timeline for when sportsbooks can begin operating in the state, should federal restrictions be lifted.
“In addition to authorized gaming activities, a licensed gaming facility may when authorized by subdivision two of this section operate a sports pool upon the approval of the commission and in accordance with the provisions of this section and applicable regulations promulgated pursuant to this article.” Essentially, sportsbooks can’t open until the New York Gaming Commission creates and approves regulations for the casinos to adhere to.
Legal Sports Betting Sites In Ny
As you can see, the current New York sports betting law is relatively limited. You can only wager in person, and you can only wager at four commercial casinos in the state. Fortunately, there is currently a bill in both the Assembly and the Senate in New York. The Senate Bill is called SB 7900. The Assembly bill is called A 11144. They are identical in nature except for one small difference – SB 7900 states that the royalty fee for leagues should be set at .20 percent. A 11144 has it marked out as .25 percent. One of the bills will have to be amended to match the other before a single bill can become a New York sports betting law.
What these two bills seek to do is expand sports betting operations in New York. They would open operations not only in commercial casinos, but also in Racinos and Native American Casinos, through a partnership of the two venues. It would also allow for online sports betting to take place anywhere in the state – so long as sports bettors first set up their account in person at one of the sportsbooks. These New York sports betting bills set the tax rate at 8 percent for brick-and-mortar sportsbooks, and 13% for online sports betting. Lawmakers have until June 20th to make these bills match and pass them off to Governor Andrew Cuomo for signature.
Can I Bet Online Under The Current New York Sports Betting Laws?
Legal Sports Betting In Ny
Under the current New York sports betting law, you cannot bet on sports online. It specifically states in Title 8 that operators of sports pools may only accept wagers in-person. NY lawmakers may change this in the future, but for now, online sports betting cannot be done through a New York Casino. There is nothing in the New York sports betting laws that make mention of online, offshore casinos, however. So if you want to bet on sports online or on a mobile device, you should head over to a trusted online, offshore book, like BetOnline or 5Dimes.
What Is The Legal Age To Bet On Sports In NY?
The legal age to bet on sports in New York is 21. This is the same age you would have to be to enter any one of the Casinos, Racinos, or Native American gaming facilities in the state, as well, so this shouldn’t come as any surprise to you. You can find the exact verbiage that outlines the legal sports betting age in subsection (e) of Title 8 in the 2013 New York sports betting law.
Will My Winnings From Sports Betting Be Taxed?
Yes, your winnings from any gambling in the state of New York will be taxed. The good news is the casinos almost always take 25% out of your winnings before giving you a payout, so you aren’t required to pay that at a later date, but if your winnings total over $5,000, you may be subject to income tax withholding. If taxes are taken out of your winnings, you’ll be sent a tax form, W2-G.
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