Starting this Saturday, New Yorkers will be able to bet on their favorite sports teams from their smartphones and personal computers.
For this purpose, the state commission that supervises and regulates gambling authorized five companies.
These are Caesars, Sportsbook, DraftKings, FanDuel and Rush Street Interactive although more companies could be endorsed in the future.
Previously, sports betting could only be done by going to a casino or traveling to New Jersey.
The gambling is expected to generate new revenue for the state and hundreds of millions of dollars a year.
Company profits are taxed at an unusually high rate of 51 percent.
State lawmakers are looking to expand gaming opportunities in this year’s state budget due in the spring.
This could include the installation of betting kiosks at various locations such as Yankee Stadium.
– .
