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Now you can use your phone to bet on games if you live in New York. Price CNBC reports government has approved betting on mobile games since January 8. Several companies are already betting from 9AM Eastern, including DraftKings, FanDuel, Caesar Sportsbook and Rush Street Interactive. Five other companies (including BetMGM and WynnBet) have licenses, but have not met the legal requirements.
The move came after former New York Governor Andrew Cuomo he changed his mind on online betting. He saw it as an opportunity to save a lot of tax money and make the government the largest betting market in the US. New Jersey currently controls American online gambling, with research firm Eilers & Krejcik estimating that about one-fifth of all revenue comes from government.
Any success may take a while, however. New York’s 51 percent tax rate on gambling is higher than 13 percent of New Jersey, and this could prevent the Empire government from claiming to be leading for years. However, this could be an important change – New York is huge and attractive, and the results of its experiments could affect the betting of mobile phones in states where the practice is still illegal.
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