New York State Gaming Commission continues revealing more pieces of the puzzle called mobile sports betting on a state level, as its official launch approaches. Recently, it issued a checklist for every platform provider willing to explore the field and reserve one of the spots available. All points in it are mandatory for successful applicants.
New York State Gaming Commission aims to see a well-rounded sports betting field on a state scale, adding mobile sports wagering to the local range. The commission also recently unveiled more details with the help of a lengthy questions and answers session. It was focused on the Request for Applications for mobile betting operators, which launches on July 9.
Prospective platform providers will have to abide by the rules issued by the commission if they want to see their business flourish in the local online gaming space. The list of conditions for the providers and their operators was publicly issued this week and everyone can get a look at it. It includes the documentation needed for a successful application process and the eventual license receiving.
With the help of the information provided, some of which is sensitive, the gaming commission will perform a background check of every applicant and come to a conclusion. It is the same process that the commission has done for casino license applications in the past. When all is said and done, the platform providers must introduce valid tax and financial information, applicable licenses, certificates, forms, and other documents. Those differ for entities and individuals filing for approval.
For instance, an entity looking to offer online sports betting services will have to introduce a multi-jurisdictional business form, mobile sports betting supplemental form, as well as taxes, financials, certificate of incorporation/formation documentation, organizational chart, contacts, licenses, among others. For company officials, the list also includes vendor key employee supplement form, taxes over the past five years, and more.
List of Requirements
The price of a mobile sports betting license in New York State is US$25,000,000, but it should be noted that one platform provider could make several bids during the Request for Applications. July 22 already saw the gaming commission’s response to the first list of questions applicants had. Over 29 pages, many important questions were answered. One of those clarified that operators and platform providers can make several bids but they are not allowed to come up with bids in collaboration with other bidding parties.
July 27 witnessed the second deadline for applicants’ questions to be sent, as those are about to receive their answers on August 2. The deadline for applications will make August 9 an important date for many providers that are still on the fence. It should also be noted that September 1 will see the official oral presentations of applicants and their plans for action.
The greenlighting could potentially take place in mid-December. A recently issued poll made it clear that some 75 percent of the adults of New York State have crossed the border at some point to place a bet on one of the mobile betting platforms available in neighboring New Jersey. Super Bowl 2022 could be the first one to see mobile sports bets placed by New Yorkers.
Source: “New York State Gaming Commission Licensing Filing Instructions“, Gaming.NY.gov, July 28, 2021