New Jersey and New York Online Sports Betting

online betting

Connecticut is slated to introduce legal online sports betting by the end of 2021. Bettors will have access to DraftKings, FanDuel, and PlaySugarhouse once the new gaming compact is finalized. The state’s Gaming Division will oversee this new market. Until then, you can place your bets online, or at a brick-and-mortar sportsbook. The Gaming Division of the Department of Consumer Protection will oversee the new online sports betting industry.

The New York State Gaming Commission recently released revenue and handle reports for January. New York sports betting is expected to generate a combined $1 billion in annual revenue by 2025. Meanwhile, the New York State Gaming Commission estimates that the industry will generate $493 million in tax revenue a year by 2025. However, the new gambling regulations could lead to a decline in revenues for the state. New York will continue to fight for online sports betting. Until then, residents can turn to offshore sports books to make bets.

When placing a bet online, consider the odds on various sports events. Higher odds mean better profits, while lower odds are less likely to win. Odds may be presented in American, Hong Kong, or fractional format. Another thing to consider is the type of market you’re betting on. The more markets available, the better. Betting markets are divided into categories such as horse and dog racing, or in parimutuel wagering.