Mobile sports betting set to launch in New York

New York residents will be able to place sports bets on their mobile devices beginning Saturday after the state gambling commission announced Thursday that four licensed platforms have “satisfied all statutory and regulatory requirements” to begin operations.

The four platforms include BetRivers, Caesars Sportsbook, DraftKings, and FanDuel, which is the parent company of TVG, the horse racing television network and account-wagering company. Another five platforms are awaiting the go-ahead from the New York Gaming Commission.

The legislation establishing mobile sports betting allows for fixed-odds wagering only. Legislation has been introduced in both the New York Senate and the Assembly that would allow the platforms to take fixed-odds bets on horse racing, provided the operators reach agreements with racetracks and horsemen.

The New York Racing Association, which operates Aqueduct, Belmont, and Saratoga Race Course, supports the legislation as part of a strategy to align with sports-betting operators to leverage the massive amount of money the platforms are spending to build their customer bases.

“Allowing horse racing content and wagering to co-exist within the mobile sports betting marketplace would grow the sport in New York, deepen the industry’s economic impact, and attract new fans,” said Pat McKenna, NYRA’s vice president of communications. “It would be a big win for New York and for the future of horse racing.”