Sports betting is a very successful industry with incredible growth in the United States. It has been a popular pastime in America for centuries, but recent changes and technological developments seem to have boosted its popularity.
As some of you may know, the state of New York is now legalizing online gambling. As a result, an increasing number of sports bettors are adopting mobile apps.
But are mobile apps the future of sports betting in the state of New York? Are there any other potential developments that could shape the future of the betting industry?
This article will be divided into different parts. The first part will explore the background of sports betting in New York and some of the popular sports teams in the iconic state.
The second part will provide a brief overview of the current regulations and legislation around sports betting in the state of New York. And finally, the third part will explore the ways in which NY sports bettors are using mobile apps, and whether apps are the future of the sports betting world.
Sports betting in New York
Sports betting is very popular in New York and dates back from the 19th century. At the time, horse races were the biggest trend.
Bettors would place their bets via bookmakers and attend races in person. But at the beginning of the 20th century, sports betting became illegal.
Many people still took part in sports betting although it was illegal. But because it was no longer overseen by authorities, sports betting became unsafe with many people being scammed or taken advantage of.
Despite all of that, sports betting, especially horse betting, still remained popular in New York.
Nowadays, some of the most popular sports teams in the state include the baseball team ‘The New York Yankees’, the American football teams ‘The New York Giants’ and ‘The New York Jets’, and the basketball team ‘The New York Knicks’.
Bettors can easily place their bets on their favorite team or player nowadays. Back in the day, that had to be done via a land-based bookmaker.
Brief overview of New York’s sports betting legislation
In 2013, New York agreed on a bill that legalized sports gambling at the state level.
This bill was boosted by the New Jersey’s Supreme Court win in 2018. New Jersey’s win made it possible for other states to legalize sports betting.
By passing a bill in 2013, New York made sports gambling legal exclusively in New York casinos. However, mobile sports betting was still considered illegal.
Although the bill was passed in 2013, bettors had to wait until 2019 for the first official sportsbook to be launched. The first legal sports bets were placed by a New York lawmaker and chair of the state’s racing and wagering committee.
As for mobile sports betting, it finally appeared on the New York scene in January 2022. In 2023, there are currently nine live online sportsbooks with more expected to launch over the following months and years.
It is worth noting that, although mobile gambling is legal, any sports betting on collegiate games, gatherings or events taking place in the state of New York is banned.
At the end of 2022, Governor Hochul announced that the state of New York had collected over $500 million USD in tax revenue since it entered the mobile sports betting market in January 2022.
These numbers show how profitable the mobile sports betting market has been for the state of New York.
The future of betting in New York
Since the legalization of mobile sports betting, many bookmakers have worked on releasing their own app. Many of these apps can be found on famous app stores and can be downloaded on iOS and Android mobile devices.
The success of mobile sports betting is likely to influence the future of the sports betting industry. More individuals are choosing to place their bets online instead of in-person.
The popularity and success of mobile sports betting is due to several reasons:
- accessibility (apps makes sports betting more accessible and less intimidating)
- convenience (individuals no longer have to visit a land-based venue to place their bets)
- comfort (apps are easy, straightforward and comfortable to use)
Companies and bookmakers understand these key reasons and how crucial they are in making a popular sports betting app. They take these factors into account and compete to create the most accessible, convenient and comfortable app to offer the best betting experience.
Many of them also attract customers by offering interesting and advantageous welcome offers, bonuses, promotions and free gifts. But is mobile sports betting the future of the industry?
Final thoughts
The use of mobile devices for sports betting will likely increase over the following years. So, yes, it seems to be the foreseeable future of the sports betting industry.
Many bettors have busy lifestyles and do not have the time to visit a land-based venue to place their bets. What could change the industry though, would be the arrival of a new type of technology on the market.
Maybe AI will also revolutionize the industry? Maybe individuals will let AI place their bets for them instead of placing them themselves?