What You Need to Know About New York Sports Betting

In-person New York sports betting has been legal since 2019. With the number of people, professional sports teams and money available, it was a bit surprising that online sports betting was not available in the state. This, however, is no longer a conversation, with mobile sports betting in New York becoming legal on January 8, 2022, at 9 a.m. EST. This is just in time for those in New York to bet on the NFL Playoffs, which will bring in a ton of money.

Is New York Sports Betting Legal?

Yes! In-person sports betting in NY has been legal since 2019. So, feel free to stop in and bet against the Giants or Jets. Of course, you must be at least 21 years old to legally place a bet.

Where to Bet On Sports in NY

If you are wondering where to bet on sports in NY, there are a variety of places you can go.

Is Online Sports Betting Legal in New York?

Yes! Beginning on Saturday, January 8, 2022, at 9 a.m. EST, everyone over the age of 21 will be able to place mobile sports bets anywhere within state lines. You do not need to be a resident of New York to take advantage of this. Whether you live in the state or you are a tourist, online sports betting is legal in New York.

New York Sports Betting Apps

When online sports betting in New York goes live, there will be four sportsbooks available for mobile betting:

• Caesars
• DraftKings
• FanDuel
• BetRivers

There are more sportsbooks that have already been approved to operate in New York, but they will likely not be available immediately. They will be permitted to start accepting bets on a “rolling basis,” per the gaming commission. This includes the following five books:

• PointsBet
• BetMGM
• Resorts World
• BallyBet
• WynnBet

How Do I Make Deposits and Withdrawals for Online Sports Betting in NY?

Since New York will be having multiple user-friendly, popular sportsbooks in their state, moving money in and out of your account is pretty easy, with multiple methods available:

• Debit/Credit Card
• ACH (Online Banking)
• PayPal
• Prepaid Sportsbook Cards
• PayNearMe
• Check

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What are the Most Common Types of Bets I Can Make in NY?

Straight bet

This is the most common bet type and it is just a straight up single bet on a game. A point spread is determined by the oddsmakers with one team being favored by a certain amount of points. Let’s take a look at an example line below to give a clear indication of what a straight bet would be:

New York Knicks -6.5 (-110), moneyline -320

at Cleveland Cavaliers +6.5 (-110), moneyline +260

O/U 206

The Knicks are favored by 6.5 points in this example. This means that if you bet the Cavaliers, you are getting 6.5 points, so if the Cavaliers win the game or lose by fewer than seven points, you will win the bet because of your 6.5-point cushion. On the other side, when you are laying 6.5 points as the favorite, you would need the Knicks to win by seven or more to win the bet.

Final Score: Knicks 104 Cavaliers 98. Cavaliers would cover even though the Knicks won the game because the +6.5-point spread is enough to cover a four-point defeat.

Moneyline Bet

The moneyline is a bet where there is no spread; you are just picking the winner of the game. In the example above, the Cavaliers ML is +260, which means that for every $100 wagered, you win $260 if the Cavaliers win the game outright. They receive the plus side of the moneyline since they are the underdog and picking them rewards you with nice odds since they are projected to likely lose the game. On the flip side, if you bet the Knicks ML at -320, you have to bet $320 to win $100. They are the favorites so if you decide to bet the moneyline instead of the point spread, you are forced to bet additional money to win $100.

In the example above, the Knicks ML would be the winner, as they won the game outright. The spread is irrelevant for a moneyline wager.

Over/Under

This is a straight bet wagering on how many total combined points will be scored in a game by both teams. For example, an NBA game may have an over/under of 210 points, which means that the oddsmakers are projecting a combined points total of 210 between the two teams. If you think the teams are going to score more than 210 points total, you bet the over, and conversely, if you think it’s going to be a defensive struggle, you can bet the under hoping that the total points scored equals 209 points or less.

Parlay

A parlay is a bet where you combine multiple bets into one bet and you get increased odds because you only win your parlay wager if all of your bets win. If you do a three-team parlay, you select three different teams from three different games and, if you win all three of the bets you hit, your parlay for longshot odds (6-1 so $100 to win $600). Going 0/3, 1/3 or 2/3 is all the same and you lose the parlay bet. It’s all or nothing, which makes them tough to hit but the odds reflect this.

Is There Anything Else to Know About New York Sports Betting?

Now that you know New York sports betting is legal, as is online sports betting in NY, all that’s left to do is get started! If you are looking for more information about sports betting overall, you can read many of our sports betting articles here at FlurrySports!

If you have an issue with betting or a gambling problem, please contact 1-800-GAMBLER to speak with someone right now and get help.