Better late than never for New York online sports betting.
New York Online Sports Betting Applicant Selection by December
Interested platform providers will now have 30-days to submit bid packages to the New York Gaming Commission. After the deadline of Aug. 9, 2021, oral presentations for bid packages will commence on Sept. 1, 2021. The gaming commission will then select applicants who will be considered for licenses before Dec. 6, 2021.
Amended applications will be due a week after applicants are notified that an amendment to their bid package is necessary. Licenses will be awarded at next schedule gaming commission meeting after that.
Despite the delay, State Senator Joseph P. Addabbo, Jr. (D-15) told ESNY that he believes the New York Gaming Commission could have online sports betting up and running in a limited capacity by the end of 2021 and hopefully at full-capacity by the 2022 Super Bowl.
“I’m an eternal optimist. With a little initiative the gaming commission could get something up and running by the end of the year. Hopefully within the end of the NFL playoff season and definitely up and running by the Super Bowl. We’re a week off from the deadline. Hopefully we see no further delays. I understand the importance of deadlines, but you want to get it right,” Addabbo told ESNY.
Applicants will submit bid packages and each package will be awarded points by the gaming commission. Each bid package must include at least two proposed operators to be the front end of the online sports betting program.
Online Sports Betting Bid Package Scoring is Key
Here is how the bid package scoring will work:
Each bid package received by the New York Gaming Commission for online sports betting platform licenses will be awarded points. Here is how the point "scoring" system will work for New York online sports betting. pic.twitter.com/EUSQQiPmBb
— RLinnehanXL (@RLinnehanXl) July 9, 2021
An applicant’s final score will be determined by adding the technical factor score, any tribe or nation bonus and the pricing factor score. The pricing factor score has the potential to net an applicants the most points for their bid package out of any other potential category.
In the event of a tie, the applicant with the higher pricing factor score shall be ranked higher.
Additional New York Online Sports Betting RFA Highlights
Here are some additional items included in the RFA:
- Included in the RFA is a note that horse racing, youth and amateur events will be prohibited from sports betting in the state, “except collegiate sports events approved by the commission.”
- Wagering will only be allowed for individuals 21-years of age or older.
- Proxy betting and collecting will be prohibited.
- Promotions will not be allowed to be deducted from revenue or added to loss when calculating gross gaming revenue.
- Debit cards, credit cards (up to $2,500 a year), pre-paid cards (once verified that the card belongs to the bettor), automated clearing house, electronic funds transfer or wire transfer from a sports bettor’s personal bank account, personal check delivered to a skin and in-person cash deposit at a casino or other location are all forms of approved funding for online accounts.