Sports betting in New York is now one of the biggest markets in the U.S. and since legalizing mobile betting back in January 2022, it has already taken over $16 billion worth of bets with the likes of BetMGM, Caesars Entertainment, and DraftKings all having a presence. With that, the Empire State puts new and experienced bettors alike with so many options at their disposal to win big money.
Whether you’ve never placed a sports bet before or have years of experience under your belt, we’ll cover everything NY residents need to start betting in New York (and winning). So, here’s an easy full rundown of what you should know when navigating the fun world of online sports gambling.
Legal Landscape of Betting in New York
New York welcomed legal sports wagering in 2019 as well, hit off by the upstate casinos. It was not until 2022 that online betting became fully legal, though. The state now allows betting on professional sports, college games (except for any with its New York-based teams) and other contests such as the Oscars or political results. As with other states, you need to be at least 21 years of age.
The New York State Gaming Commission oversees the regulation of sports betting in New York, so you can be sure that all platforms there operate under stringent rules. It was announced that the biggest sportsbooks in the state must meet various data protection policies, anti-money laundering (AML) laws, and responsible gaming directives.
How Can You Find Your Perfect Sportsbook?
There is no doubt that New York City is now home to the booming online sportsbook and casino market. How, though, do you know what to choose? Well, just follow the below mentioned pointers always:
- Reputation and Licensing: Check whether the sportsbook is licensed and reputed with the help of online reviews.
- Rewards and Promotions: Almost every betting platform offers a massive welcome bonus and other rewards like reload bonus, cashback, etc to attract more customers. Check out whether your preferred platform has a wide range of such rewards or not.
- Betting Lines and Odds: To ensure the best bang on your bet, check the odds a platform offers and then compare it with others.
- User Interface and Mobile Application: A good, easy-to-use interface and a mobile application that doesn’t lag can make or break your betting experience.
Key Tips for Betting Success
With the ease of betting in today’s world, you also need to have a strategy in place to have success. So, before you give yourself a go-ahead in betting, first have a thorough understanding of these expert advices.
1. Bankroll Management
It is extremely important to stick to a budget and manage the bankroll effectively. You should never chase losses and never bet more than you can afford to lose.
2. Understand the Market
Be it moneyline, point spreads, or over/under, ensure you understand market terms and know what are the different types of bets.
3. Stay Aware
You must always be aware about player stats, injury reports, and team performance trends. Use reputable sources to research before placing your bets, as knowledge is a key advantage.
4. Avoid Emotional Betting
Although it can be attractive to bet on your favourite team, quick decisions often result in poor outcomes. Stick to objective analysis and disciplined strategies to make more informed wagers.
5. Leverage Promotions and Bonuses
Sports betting platforms offer several bonuses and promotional deals. You can utilise them to increase your funds or have risk-free bets. You must look out for bonuses like reload, cashback, weekly tournaments, etc.
That’s a Wrap
New York’s sports wagering market is quite something these days and there are various ways for punters to support their favourite teams and events. With an understanding of the most popular bets with strategy and the suitable sportsbooks, you will be good to go. Make sure that you also bet moderately and do your mix informing for the wagers you intend to place.
Also, it is necessary to stay up-to-date with the ongoing trends and new regulations in the online sports betting world. Before beginning, ensure you have had a thorough check of everything regarding safety and security of your funds on the platform. With a few simple steps, you can have a successful and enjoyable online sports betting experience.
