Bitcoin Forum

The New York State Gambling Commission recently recommend three companies to operate an online sports book online.
-Pointsbet
-Caesar
-Rush street
Apparently the CEO's are extremely happy about the recommendation made since this shows that they are not only doing a good job but they are also considered to provide exceptional services online.
They are waiting for the official opportunity to leverage sports betting and to have a healthy relationship with NBC as well in lieu of a partnership.
Caesars are currently operating in 20 states and 14 of them are online already. Therefore this could give them not only more exposure but they would already be ready for it and would know how to handle it.

Rush street is already well established in other states as well and therefore they are also going to provide amazing services to the new Yorkers.
-They are supposed to launch everything during the first quarter of 2022.

Why is this news so important?
-This news is highlighting the importance of sports betting especially online for the Government regulated bodies, therefore we can look forward for positive impact and more space being provided to the gambling industry in New York.

 https://www.gamblinginsider.com/news/13816/operators-react-to-recommendation-to-operate-online-sportsbooks-in-new-york (https://www.gamblinginsider.com/news/13816/operators-react-to-recommendation-to-operate-online-sportsbooks-in-new-york)

As you said, above, for sure, this news is very important for the three online sports book sites, which you mentioned.

I know about Pointsbet, they also operate in Australia and also have several subsidiaries like: PointsBet Pty Ltd etc.

As far as I know Pointsbet is one of the most comprehensive and informative online sports books in the United States (New York), the way they promote PointsBet is great compared to other online sports books, which are in America, I think this is the result of their hard work in promoting PointsBet in Sports & Entertainment betting, I believe they have good odds in New York and positive too.

I honestly didn't imagine PointsBet could grow this fast, even though they are relatively new, I can only say and hope that they can launch the PointsBet site to countries that are not yet legal, such as: Colorado, Indiana, Iowa etc, which are already legal.

Legalized gambling is extremely lucrative wherever it is setup, so those CEO's will be extremely happy to get online gambling licenses in one of the most well known states in the USA. Vegas might start to lose some of it's power as a mecca for gambling in future, so any big casinos there (e.g. Caesars) are definitely battling it out to get these licenses and conquer a new market. Covid would have been a huge hit to physical casinos and probably dropped their earnings to a tiny fraction, so this will give them a lot more stability in future. There has been a lot of buyouts in the UK as well recently where established US companies are taking over bookmakers in jurisdictions that have much more lenient laws.

This news is very important and would be related to crypto if one day these sites listed will start accepting crypto for sports betting.

I believe if the government is regulating sportsbooks properly, they should also consider how to increase the revenue of the casinos, and integrating crypto would definitely help as we know how popular crypto is now with its growing adoption. Someday, more competitive casinos will operate worldwide and they can take clients from this land, so if these casinos will not innovate, then they'll probably get outdated sooner or later.

All of the companies that are recommended, for sure, have been operating somewhere that's why it's one of the chosen ones. I think they would be more successful once they have started in 2022. I think we won't see any impact on it since it's online, but a lot of people are going to be going there to gamble. I do hope that gambling with cryptocurrencies would be able to do that as well or something related to that.

A great way for New York to earn as well. Legalizing it.

I believe they will accept cryptocurrency too but indirectly approach, They can use a 3rd party services that let user deposit crypto and automatically convert it into fiat once the crypto is confirmed on the casino wallet. That is just wild guess but for sure, they will use the convenience of using cryptocurrency instead of cash since this the trend right now on online gambling.

I hope that we might see one or all of these casinos promoting in Bitcointalk.org in the future.

As someone from NY I am happy to see this. More and more states are figuring out that people are going to bet on sports and other things no matter what, so you might as well support them.
This way there is oversight as to what happens and the additional tax revenue.
It also makes it harder for the less honest ones to operate since there is legitimate competition.

-Dave

isn't New York one of the most regulated places for crypto in the US?
seems like if things keep this way most of the businesses will just leave it there to go to other states

would definitely be interesting to see more casinos like that promoting here on the forum

In gambling, markets and health in the US, it seems that the regulators are barely distinguishable from the owners of the business. I do not doubt that those online books are excellent and follow the best practice in the sector, but the prices and recommendations coming from the regulators and the people in the business do not mean anything in particular to me honestly.

This also has the advantage that the odds will improve slightly for the players as with competition then sport books will do what they can to attract new clients, and the way to do so is with better odds and bonuses, now even if I think that governments are doing this due to the holes the pandemic has created on their budgets it is still a step on the right direction as it does not make sense to ban something like gambling when so many people want to engage on the hobby.

it would be nice if at least one of them would accept bitcoin. not only it would increase the option for some crypto gamblers that don't really care about privacy but it would also expose other gamblers to cryptocurrency. perhaps an increase of demands with the usage of cryptocurrency when gambling could bring other gambling casino owners to start accepting cryptocurrency to their own casinos.

They must be the exceptional ones. This is expected of course. This is New York they are trying to do business in. The price must be high. The standard must also be equally high. As a result, only those that have the money and the standard can pass. This means Pointsbet, Caesar, and Rush street are the cream of the crop.


Worry not, newly elected New York Mayor Eric Adams has been open about his strong support for Bitcoin. The city might become a Bitcoin hub in the US under his leadership.

yes, and maybe other cryptocurrencies too like dogecoin, litecoin, etc... since setup is not so different and fees are usually even smaller
are there businesses accepting bitcoin on lightining? haven't seen things like that yet.

It is just a matter of time they will accept bitcoin and another crypto as crypto now become more popular than a few years ago. If they accept or implement crypto to their business, it could attract more crypto users to come and play and even, they will have another thing that the crypto offers which is the investment side for their business. New York as a big city could be a good target to make crypto more popular and get attention from people, whether they will use crypto to play gambling or buy a product using crypto or just for the investment.

It will be interesting to see if any of them attempt to get the New York bitlicense. I am going with probably not for a while. Start with seeing how much business they get before spending more money to get more business. For large businesses the overall cost of getting a bitlicense is not that big. But, if it's not going to generate enough extra revenue then it's probably not going to happen. We are a BTC forum, but how many people will bet anyway even if they don't take BTC

-Dave

You can find the List of TOP 20 U.S. Licensed Sportsbooks here: http://100bookies.com/us-licensed-sportsbooks-eng/

Glad that at the very least, there's some acknowledgment ongoing on how the sports betting scene is actually real, and shouldn't be stopped since it's a rather positive thing both for its users and for those who want to profit out of it. Plus, with them doing this, they can at the very least better control the inner workings of what is happening, instead of letting it work illegally and them having no clue about it. Plus, it's a bigstep since it could open up for other opportunities overseas, hopefully anyway.

Whether this is called a positive impact only because gambling benefits the casino and also taxes for the government that is ready to legalize it. In New York, the ministry of religion has become a common activity and it is no stranger to talking about gambling. However, for some countries, this has not been fully said to provide a high positive value. On the contrary, what are the negative impacts on the surrounding environment?

wait, there is a ministry of religion?
how does it work?

in Brazil most of the religious institutios pay no taxes, is it like that in New York and other places too?

well,gambling is a really commons activity, most people know about it.

Well, the US is always a pretty tough jurisdiction to get around when it comes to gambling laws.

I think that the majority of casinos/sportsbooks will be forced to be online as a matter of time.

Whether or not the transition for these companies will be smooth is doubtful. If they have operated physical businesses for a long time they may not have the key competencies to compete with other online businesses.

New York has a severe issue hemorrhaging residents to florida and texas.

As a result, they have been seeking ways to entice residents to remain in state. Another step they've taken to attract residents is to legalize prostitution and massage parlors.


It appears relaxed regulation and enforcement of new york anti gambling is a second step being taken to entice residents to remain in the state and not move elsewhere.

New york has a long standing reputation for having the most unnecessary red tape, regulations and state oversight of any state in the country. Measures such as these being passed less than 6 months of each other is a very rare sight given new york's history and prior precedents.

yes, transitioning into online has different challenges, but a lot more scale
it's much easier for online businesses to migrate to other countries as well with better legislation for their activities

we'll see a really different world than today in 10-20 years time

After the election of the new mayor of NYC, who is also a fan of cryptocurrencies and is even going to receive the first three salaries in bitcoin, it is not surprising that there will be serious indulgences for the operation of crypto casinos in the city.  In general, this is of course the "center of the world".  But, as they say, the city of the "Yellow Devil" and it is studded with entertainment and at every step.  It is clear that not everyone likes such indulgences, but the population is completely different from the rich to the homeless.  And accordingly, crime is flourishing. 

But let's wish the new mayor success in putting things in order and developing the cryptocurrency infrastructure of New York!