Boardroom's Guide to Sports Betting in New York

With mobile sports betting now live in New York state, you might have logistical questions about getting started. And we’re here to help.

Whether you’re a seasoned bettor or a complete newbie, everyone can agree that Thursday’s announcement that sports betting would go live in New York on Saturday morning was a massive shocker. Many find themselves scrambling, trying to figure out how to bet via legal mobile wagering, or asking friends in other states how they went about setting up accounts and tracking down the best offers to get started.

At this point, you’re wondering what to do and how all of this works — and that’s okay. You have questions, Boardroom has answers.

Can I Place Mobile Sports Bets in New York Right Now?

Yes.

Despite a projection that mobile wagering would be live around the Super Bowl next month, several sportsbooks stepped up to the plate to accelerate that timeline. As of 9 a.m. ET on Saturday, Jan. 8, all New Yorkers aged 21 and up were able to place bets via the DraftKings, FanDuel, Caesars, BetRivers, and SugarHouse sportsbooks. You can already sign up for accounts at DraftKings Sportsbook and FanDuel Sportsbook and get a free $100 credit at both sites.

There are still other sportsbooks that have been approved to do business in New York, including PointsBet and BetMGM, but we’ll have to wait on them to satisfy the state’s full list of statutory and regulatory requirements before their Empire State operations are permitted to go live.

This is probably the hottest question on the streets at the moment, and it’s only natural.

As you’ve probably seen through the numerous sports betting advertisements that have come across your feeds over the past couple of years, sportsbooks will throw free bets at you to come and join their site.

🚨 IT'S OFFICIAL 🚨

We are LIVE in the state of New York 🗽

Get in on the action: https://t.co/uXxwZ1eh3e pic.twitter.com/CXWo3oKkUf
— FanDuel Sportsbook (@FDSportsbook) January 8, 2022

If you’re a natural skeptic like I am, you’re probably wondering if it’s smart to wait until a big event like the Super Bowl to maximize your first deposit and get the best bonus, but it doesn’t seem like that’s the case. In fact, some good deals are on the way in the first days of betting in New York.

“While FanDuel is always generous and offers incredible value during tentpole events, there is nothing like opening weekend,” Kevin Hennessy, the director of publicity at FanDuel, told Boardroom. “This weekend is special because it’s the last NFL weekend and the college football National Championship is on Monday. So it’s a great weekend to be a new legal sports bettor.”

While he couldn’t divulge the specifics of what the company had in mind, added:

“FanDuel customers can expect to be greeted with some unmatched generosity on Saturday.”

Case in point from the Cowboys-Eagles game that day, which ended with 77 total points scored:

Some things look a bit too good to be true. But even from the mouth of a betting expert, this is still a good idea.

Brandon Anderson, who is a staff writer at The Action Network, told Boardroom about his experiences in Illinois, where sports betting has been legal since September.

“Yes, you should definitely deposit right away,” he said. “This is when the sportsbooks will have the biggest promotions and giveaways. It will be a chance to win lots of easy free money.”

Free money is good. The question will be how many New Yorkers are able and willing to capitalize on it.

What Are My New York Sportsbook Options?

At some point in the next few weeks, you will have a ton of options in New York. Established sportsbooks like BetMGM and PointsBet will arrive, as will WynnBet, Bally Bet, and Resorts World.

As of now, you’ll have to sign up to bet through Caesars, Rush Street Interactive (via BetRivers and SugarHouse), FanDuel, or DraftKings.

Can I Have Accounts with Multiple Sportsbooks?

Yes. In chatting with Anderson, he divulged that he currently uses FanDuel, DraftKings, PointsBet, and BetRivers.

“You absolutely should have multiple accounts at multiple books,” he said. “Every book will have Chiefs -4, but some might have -105 instead of -115, or another might have -3.5, and all of those seemingly small edges add up in a huge way.”

There’s also the factor of promotions, odds boosts, and free bets which will vary book to book. Simply put, joining all of the open sportsbooks is a good idea if you want to maximize your edge when betting.

If I Already Play DFS with DraftKings or FanDuel, Am I a “New Customer?”

Yes, even if you’ve already got an account with one of the above daily fantasy sports providers, you’re still eligible for all the same things a new sportsbook customer would be eligible for.

In fact, it’s highly beneficial, given both FanDuel and DraftKings have managed to tie together the balances from DFS and betting.

“The great thing for our DFS players is when you add a FanDuel Sportsbook account you will be able to sync the account and wallet with your DFS account,” Hennessy said. “You will be able to use winnings from DFS to bet on the FanDuel Sportsbook and vice versa.”

Is this Really Better Than My… Uhh… Arrangement?

Sports betting has been widespread in every city, in every state for many years now. You may have figured out a way to get it not being legal in New York and have reservations about changing things up.

There’s a new king in town 👑 🏙

DraftKings Sportsbook is LIVE in New York! pic.twitter.com/n8y5kL94UG
— DraftKings Sportsbook (@DKSportsbook) January 8, 2022

Sure, you’ll get taxed on the winnings (if you do manage to win), but there are numerous benefits to signing up for these promotions.

If the free bets don’t persuade you, you’ll likely notice in comparing lines that you’re getting better deals at the legal sites than you are elsewhere.

You’ll also be able to use features like FanDuel’s Same Game Parlay, which allows you to parlay multiple props from the same game, as its name would lead you to believe.

If you’re someone who’s frequenting New Jersey to place bets, then it’s a no-brainer.

“The great thing now for New Yorkers is they no longer have to travel across bridges or through tunnels to place a legal sports bet. It can be done safely and securely from their mobile device,” Hennessy said.

If you’re asking this question, it’s unlikely you read our heading about opening up an account at multiple books.

With that being said, it’s okay! There is certainly a debate over which sportsbook is the ‘best” and which will become your default. Anderson most frequently uses DraftKings, but legions of bettors gravitate to FanDuel, Caesars, BetMGM, and beyond for any number of good reasons.

What Else Do I Need to Know?

There’s not much else to go over except some advice on how to wisely bet on sports. Fortunately, it never gets old.

“Start small and have fun with it,” Anderson said. “You’re probably going to lose some at the beginning, but think of it as entertainment.

“Before you ever start, think about what is a good amount to bet. If that’s one dollar or five dollars or $10, so be it. Start small and just enjoy the thrill of winning or losing, rather than pretending like you’re suddenly going to earn an income this way. Take advantage of those early promotions and free bats that these places offer you starting out.”

With promotions set to run all weekend, it’s sure to be a lively one for sports fans in New York.

Now, you know exactly what to expect and what to do.