In the latest gambling news, the New York State Court of Appeals has ruled that fantasy sports are legal in the New York Sportsbook Industry. Just yesterday, the Court of Appeals reversed a court’s previous decision on the matter. The previous ruling states that Fantasy Sports betting violated the state’s constitution on its ban on gambling. This means that sportsbooks in the state are now free to offer fantasy sports without any problems.
Not that fantasy sports ever stopped in the state. Some sportsbooks who previously offered fantasy sports never stopped offering these services even when the case was ongoing. New operators, however, were prevented from launching these services in the state. New York is now part of the 25 states across the country that legally offer fantasy sports in both retail and through online sports betting software. These states acknowledge that fantasy sports contests are legal games of skill.
Fantasy Sports and the New York Sportsbook Industry
For those who are about to open a sportsbook and are not familiar with fantasy sports, betting on fantasy sports is when a player will select a roster of athletes, and the stats of this roster will accumulate and determine who will win in a daily fantasy sports (DFS) contest. Players can bet on fantasy football, basketball, golf, baseball, and more.
The decision of the New York Court of Appeals means that in New York, over 3.5 million fantasy sports bettors can continue to enjoy their favorite DFS sports. In fact, the number of DFS users in the state could grow even more, especially since online sports betting boomed in New York this year. So far, the state has seen $3.9 billion in handle from sportsbooks since its launch back in January 8.
In addition, aside from existing sportsbooks who offered DFS previously, new operators will now be able to finally open their very own fantasy sports betting operations in the state. Dfs has been a success since fantasy sports was signed into law by Gov. Andrew Cuomo in 2016. Now, industry insiders believe that we will soon be seeing the numbers jump as more DFS sites go online in the state.