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Online Sports Betting Could Bring In $900M Annually In New York According to NYSportsDay.com

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Online Sports Betting Could Bring In $900M Annually In New York According to NYSportsDay.com

 

Online sports betting legalization could yield as much as $900 million in annual revenue, and $108 million in tax revenue for the state of New York, according to NY Sports Day projections.

New York stands to become one of the largest US markets for legal online sports betting, pending the passage of NY State Senate Bill 17D. The bill would authorize each of New York’s seven retail casinos to operate a mobile sportsbook.

Online sports betting could make it onto a proposed revenue enhancement bill, which lawmakers are expected to discuss in an upcoming special session about the New York state budget.

Proposed Bill Would Tax Online Sports Betting at 12%

Senate Bill 17D proposes a 12% state tax on mobile sports betting revenue, as well as a one-time $12 million licensing fee paid by each operator. Those products could earn as much as $900 million in annual revenue.

The 12% tax on that revenue would yield $108 million in taxes for the state. New York would also take in $84 million in licensing fees.

“New York has a chance to become the biggest mobile sports betting hub in the US,” said Geoff Fisk, analyst for NY Sports Day. “New Jersey holds that position right now, and some of that comes from New York bettors traveling to New Jersey to place a legal wager.”

“If New York legalizes online sports betting, the revenue that’s going to New Jersey stays in New York. Considering tourism and state population, New York could host the most lucrative mobile sports betting industry in the country.”

New Jersey online sportsbooks brought in a record $668 million in betting handle in August 2020.

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More Skins Could Make New York Sports Betting a Billion-Dollar Industry

If state laws allowed for two skins per operator, NY Sports Day projects that the expanded market could result in $1.3 billion in annual revenue for the state’s online sports betting industry. The state would bring in $156 million in tax revenue yearly, and a total of $168 million in licensing fees from 14 skins.

“All seven New York casinos have sportsbook partnerships in place, so those seven brands are locked in if online sports betting gets the green light,” Fisk said. “DraftKings and FanDuel already have a place in the New York market.”

“Expanding to two or more skins per operator, however, could include brands like Barstool and PointsBet. The sports betting market would thrive with 14 or more brands in competition.”

SOURCE NYSportsDay.com

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SCCG Partners with Osage Nation Gaming Enterprise to Enhance Interactive Gaming Operations with Managed Services

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SCCG Partners with Osage Nation Gaming Enterprise to Enhance Interactive Gaming Operations with Managed Services

 

SCCG Management, a leading global advisory firm in the gaming and sports betting industry, is proud to announce its engagement by the Osage Nation Gaming Enterprise (ONGE) to assist in developing innovative, robust, player-centric solutions for sportsbook operations, on-line/mobile social casino, and Class II mobile on-premise gaming, designed to enhance the patron experience with diverse content, and drive operational efficiency.

The ONGE, operators of seven gaming and hospitality facilities in Oklahoma, is known for providing an intimate, guest-focused gaming, service, and entertainment experience. This collaboration marks a significant step in integrating advanced technology and operational expertise to deliver innovative solutions for the evolving interactive gaming landscape.

SCCG Managed Services (SCCGMS) specializes in turnkey solutions for tribal operators to develop, optimize, and manage sports betting and interactive gaming offerings. For the ONGE, , SCCGMS will assist in sourcing and implementing customized products and services tailored to their operations, enabling patrons to enjoy casino-style games on their mobile devices while within designated areas of the casino properties. This service ensures compliance with regulatory standards while delivering a seamless and convenient gaming experience.

“Our mission is to ensure operators like the Osage Nation Gaming Enterprise can fully harness the potential of their gaming operations,” said Stephen Crystal, Founder and CEO of SCCG Management. “This partnership is about bringing cutting-edge technology and operational expertise to elevate interactive gaming experiences. We are honored to collaborate with the ONGE, a leader in tribal gaming, to pave the way for enhanced content, responsible gaming, and innovation.”

“On behalf of Osage Casinos, we are very pleased to announce our engagement of SCCG to assist us with developing these new products and services for our guests,” offered Kimberly Pearson, CEO of Osage Gaming.

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Compliance Updates

Licenses received: RockApp strengthens its position in the US iGaming market

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Licenses received: RockApp strengthens its position in the US iGaming market

 

RockApp, a leading global media buying agency, proudly announces that it has obtained official licenses in all regulated US states, allowing it to promote iGaming services nationwide, including Colorado, Indiana, Massachusetts, Michigan, New Jersey, Pennsylvania, and West Virginia. With these licenses, RockApp is now authorized to operate in all regulated US states, except for New York. This achievement comes amidst tightening regulatory standards, underscoring the agency’s commitment to compliance and excellence in performance marketing. The move positions RockApp as a trusted partner for iGaming companies looking to expand their reach in one of the world’s largest and fastest-growing markets.

These developments enable the agency to work with prominent industry players, including established American brands, and deliver targeted advertising campaigns with measurable results. By securing a legal presence in all regulated states, RockApp reinforces its reputation as a reliable and professional partner, capable of navigating complex regulatory landscapes.

This milestone is part of RockApp’s broader strategy to strengthen its position as a global leader in the media buying industry. Over the past year, the company has demonstrated impressive growth, achieving a 440% increase in customer acquisition, a 300% boost in turnover, and a record-breaking 4,000 first-time deposits achieved in a single day. These achievements reflect RockApp’s dedication to innovation, strategic planning, and delivering exceptional value to its clients.

“This is a pivotal moment for RockApp,” said Niko Belikov, Founder at RockApp. “Securing licenses in the US not only opens new doors for us but also allows us to bring our expertise in iGaming promotion to a market that values professionalism and results. We’re excited to support our clients as they navigate this dynamic landscape and achieve unparalleled success.”

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Compliance Updates

Media Troopers Receives Two-Year Renewal of Colorado Sports Betting License

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Media Troopers Receives Two-Year Renewal of Colorado Sports Betting License

 

Media Troopers, a leading digital marketing agency specializing in sports betting and iGaming, has marked its two-year anniversary in promoting sports betting in Colorado as a vendor licensed by the state.

Shmulik Segal, CEO of Media Troopers said: “We are very proud of this renewal, as it marks a milestone of two successful years of growth and commitment to the State of Colorado.”

Colorado’s Division of Gaming has renewed Media Troopers’ vendor license, allowing the company to promote sports betting offers for its customers until January 2027.

“Receiving a new license and debuting in a state is always exciting, but it is where the hard work begins,” Segal added. “So I am proud to celebrate two successful years of hard work and dedication in promoting safe and reponsible gaming for our Colorado partners such as BetMGM, bet365, and BetFanatics.”

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