New York Publishes Final Rules For Online Sports Betting

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August 11, 2022
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New York publishes final rules for online sports betting

The state register of new york has published an official set of rules for online sports betting, which will be followed by the first nine approved bookmakers. The regulation was officially adopted by the state and will come into force with the launch of the market, which is expected in january 2022.

The document states that the association of new york races "expressed interest" in the proposal of the platform for the fighting deposit platform (adw) together with licensees. Customers will be able to use the "electronic wallet" from which it will be possible to make funds to accommodate rates or on adw or on the platform of sports rates. Payments can be deposited from winnings from any service.

New york state gaming commission also denied a number of petitions from operators. Draftking proposed to place a link to the consideration of customer complaints on the client account page, and not on the main web page, which ultimately was rejected, because it would make it difficult to search.

Moreover, penn national gaming asked to change the definition of "promotion of mobile sports bets" and remove such terms as "raising chances" and "winnings". It was also rejected by the commission, which believes that the preliminary approval of advertising campaigns provides regulatory control and protection of consumers.

Other amendments proposed by operators include licensee employees who are allowed to bet on other platforms; restriction of the number of employees who need to receive a license as key employees; and the requirement of independent laboratory testing software for mobile sports rates should be limited to "critical" software. The commission did not agree in all cases .

The proposal of draftkings that the transfer of taxes on mobile sports rates will be monthly, and not weekly, it was also rejected, as well as the proposal that the presentation of advertising actions was limited to new promotions, and that skin should not have been providing a significant degrees of similar advertising mechanisms. Commission earlier approved. The commission instead stated that operators should submit on approval all advertising actions at least 15 days before their launch.

Now that the final set of rules is published, new york state senator joseph addabbo said that the staff can take his first mobile rates by mid-january. The last step before starting is for nine operators, matching the location of the rates servers to be located in ground casinos.

"As we complete every important step towards the offer to our residents of the first-class product for mobile sports rates in new york, we must focus on the consolidation of the servers so that they work in the approved casino to get the first place in new york. Mobile rates for sports for some time in january, "said senator.

The final set of rules complements a number of key conditions about which the public has already knew, such as licenses for a period of 10 years, a fee of $ 25 million and a matrix that establishes a tax rate on gross income 51% . Bets are also not allowed on the game in which the team of new york college.

It is also known that consumers will be limited to the same account for mobile sports rates on each skin, and that they can be financed using a multitude of payment options, including credit cards. However, players seeking to finance their operations with the help of this form of payment will face an annual limit of $ 2500 us dollars . Meanwhile, operators in the state are authorized to take security measures for customers, including deposit limits and tools that should be in a prominent place on sites.

Operators to whom the commission allows working in the state include bally bet, betmgm, draftkings, fanduel, caesars sportsbook, wynnbet, pointsbet and rush street interactive. All of them were supposed to find a state casino to accommodate their server and find an independent laboratory for approval and testing their geolocation software.

Source: yogonet

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