Hopeful entrants into the mobile NY sports betting market now have all the information they can get from the state’s gaming regulators.
The fourth and final round of questions and answers posted to the New York State Gaming Commission‘s website Monday morning. Regulators hit Monday’s deadline with ample time to spare. That was unlike the previous Q&A round, or even the RFA itself, which was eight days late.
Applications for the minimum two platform providers and four online NY sportsbooks are due at 4 pm Eastern next Monday, Aug. 9.
Take it easy, New York
Do not expect to bet on mobile legally in New York anytime soon though. If the Gaming Commission takes all the time allowed, it could be a stretch for sportsbooks to get live during the 2021 NFL betting season, including the playoffs.
Sen. Joe Addabbo Jr., who helped to pass mobile betting in New York, hoped to have sports betting apps live before Super Bowl betting. That would let the Super Bowl act as a benchmark to see how the market is performing, he said.
Can operators trust NY sports betting platform providers?
There does not appear to be any wiggle room if a sportsbook’s platform provider falls short of what is expected.
A sportsbook cannot change platform providers even if the platform fails to meet the requirements of a license holder, according to the commission. That does not seem to agree with an answer from the last Q&A, though:
“… The Commission will consider changes that will in their subjective determination generate as much or more revenue for the State.”
So a sportsbook that perform incorrectly because of a failing platform provider likely will not be left to fail by the commission. Whether a sportsbook could switch platform provider if the platform is acquired by a competitor of the sportsbook is not contemplated in the RFA.
Scoring on taxes explained (again)
The amended table concerning tax rates and scores was updated again to avoid further confusion.
The commission clarified that a bid of 50% is worth 20 points and removed the “up to” qualifying language. The commission also confirmed that it is a five-point difference between offering 49.99%, which maxes at 15 points, and 50%.
Even though a scale is given for scoring under 50%, a revenue share of 50% or more is expected by the state. That rate could hit 60% or higher given that applicants get an additional point for each percentage point over 50%. Remember: Gov. Andrew Cuomo expects the state’s share of sports betting revenue to eventually hit more than $500 million annually.
Revenue-share agreements with multiple tribes will increase points awarded, but varying terms of those agreements could affect scoring.
Remaining schedule for mobile NY sports betting
It will take about a month until the next step after bidding closes Monday.
That will give the Gaming Commission time to go over the bids and select which applicants, if any, will give oral presentations. Those can begin Sept. 1.
The winning applicants must be selected before Dec. 6. Amended applications for other potential winners are due a week after notification of amendment.
Sports betting licenses will then be handed out at the next commission meeting.
Matthew Waters is a reporter covering legal sports betting and the gambling industry. Previous stops include Fantini Research and various freelance jobs covering professional and amateur sports in Delaware and the Philadelphia area.