New York sports bettors have eagerly anticipated sportsbooks arriving across the state. The New York State Gaming Commission has already granted licenses to nine sportsbooks. The latest operator to go live in the Empire State is PointsBet New York.
PointsBet officially launches in New York Monday
PointsBet offers a unique aspect of betting on different events throughout the year. It will be the sixth sportsbook to go live in New York. The company now offers its product in nine other states: Colorado, Illinois, Indiana, Iowa, Michigan, New Jersey, New York, West Virginia, and Virginia. The news comes after BetMGM just launched last Monday.
It won’t be long before the company establishes a strong presence across the New York betting landscape. PointsBet secured a multi-year partnership with NBCUniversal which makes the company the official sports betting partner of NBC Sports.
After competitor Caesars dropped its risk- free bet offer from up to $3,300 to $1,500 over the weekend, PointsBet has one of the most generous signup offers for new customers. PointsBet is offering two risk-free bets up to $2000: $500 is for fixed-odds wagers, and $1500 is for a points bet.
New York’s betting markets have already seen great success. BetRivers, Caesars Sportsbook, DraftKings Sportsbook, and FanDuel Sportsbook accepted a combined total of $603 million from January 8-16.
“Launching in New York is a significant milestone for PointsBet, being one of nine approved online sports betting operators in the state,” PointsBet USA CEO Johnny Aitken said. “New York’s passionate sports fans and bettors will not have access to the fastest online sports betting product in market, with a live, in-game betting experience that PointsBet controls through our proprietary technology and world-class team.”
Wynn Resorts to sell its sports betting unit for a discount
Another sportsbook awaiting approval to enter the market is WynnBet. However, WynnBet may sell its online sports betting unit, Wynn Interactive, at a reported amount of around $500 million.
WynnBet also brought in Shaquille O’Neal as a brand ambassador to promote their product. Morgan Stanley analysts valued WynnBet at $700 million with a market share of 2.5 percent in the U.S. Because of the early successes for DraftKings, FanDuel, Caesars, PointsBet, and BetRivers, WynnBet has seen difficulties keeping up with other betting operators, though a sale of Wynn Interactive could spark growth.
Fanatics could be among those looking to purchase WynnBet. They did not receive a license to enter the market after a joint bid with Penn National. Another reputable sportsbook that missed out in New York was Bet365. This may push WynnBet’s launch date until a company purchases Wynn Interactive.
Bally Bet and Resorts World are the other sportsbooks working towards a launch in New York. There are no scheduled launch dates for either operator, but the sooner they can get up and running, the better. At just over two weeks until the Super Bowl, the biggest single-game sports betting opportunity in the U.S., missing out would be a massive loss.