Publish Date: 08/02/2022
Fact checked by: Sophie McCarthy
Sports betting is finally legal in New York, and everyone is clamoring to put their name in the hat. Many great sportsbooks have already staked their claim inside the Big Apple.
The likes of DraftKings, Fanduel, BetMGM, and Betrivers have already set up shop inside the state, and are doing quite well for themselves. However, with only nine sportsbooks currently legal inside New York, we want to ask the question: which sportsbook is next? Well, let’s put together a list of who we believe will come next.
Bet365 came very close to making that final cut. The New York Gaming Commission rejected them at the final stage of qualification, meaning they were the only sportsbook who came that close to qualifying but ultimately did not make it in.
It’s still early days, so we’re not surprised that the Gaming Commission is so strict about who they let in at the moment.
While we’re not too sure why Bet365 was rejected, we believe the platform will eventually find its way into the home of the Big Apple. They have great online sportsbooks available in both New Jersey and Pennsylvania, that rival some of the best online sportsbooks you’ll find anywhere.
We have it on good authority that New York residents even travel over the Hudson River just so they can bet with Bet365! If there is enough public demand, and Bet365 fixes the issue that the NYGC had with them, we’re sure they’ll be the next to get the license to run in New York state.
It came as a surprise to many that Penn National Gaming did not make the cut when they first applied for their license at the tail end of 2021. The reason for that is that Penn National Gaming purchased Barstool Gaming last year, and Barstool Gaming's headquarters is in the heart of New York City.
Penn National has the land-based presence to make their case, as well as having a deal with the Saint Regis Mohawk Tribe to set up more land-based casinos in the state. The deal states that 5% of revenue will be shared with the tribe, as well as offering the Tribe a guaranteed annual payment of $2.5 million.
This is a huge deal for any sportsbook to make, so not being able to secure that license with the New York Gaming Commission is a shock, to say the least. However, when you consider their land-based presence and their links with the tribes, we think they’re a likely contender to pick up the next license if Bet356 doesn’t.
We're excited to see which online sportsbooks join the ranks of DraftKings, BetMGM, and FanDuel! Could it be LOOT.BET next? We'll be sure let you know if it is!