Sports betting is finally here in New York. After a several year process, betting was finally legalized in January 2022
Yes, New York mobile and online sports betting was legalized back in January 2022.
This is the most common bet type and it is just a straight up single bet on a game. A point spread is determined by the oddsmakers with one team being favored by a certain amount of points. Let’s take a look at an example line below to give a clear indication of what a straight bet would be:
The Celtics are favored by 6.5 points in this example. This means that if you bet the Cavaliers, you are getting 6.5 points, so if the Cavaliers win the game, or lose by fewer than seven points, you will win the bet because of your 6.5-point cushion. On the other side, when you are laying 6.5 points as the favorite, you would need the Celtics to win by seven or more to win the bet.
Final Score: Celtics 102 Cavaliers 98. Cavaliers would cover even though the Celtics won the game because the +6.5 point spread is enough to cover a four-point defeat.
The moneyline is a bet where there is no spread; you are just picking the winner of the game. In the example above, the Cavaliers ML is +260, which means that for every $100 wagered, you win $260 if the Cavaliers win the game outright. They receive the plus side of the moneyline since they are the underdog and picking them rewards you with nice odds since they are projected to likely lose the game. On the flip side, if you bet the Celtics ML at -320, you have to bet $320 to win $100. They are the favorites so if you decide to bet the moneyline instead of the point spread, you are forced to bet additional money to win $100.
In the example above, the Celtics ML would be the winner as they won the game outright. The spread is irrelevant for a moneyline wager.
This is a straight bet wagering on how many total combined points will be scored in a game by both teams. For example, an NBA game may have an over/under of 210 points, which means that the oddsmakers are projecting a combined points total of 210 between the two teams. If you think the teams are going to score more than 210 points total, you bet the over, and conversely, if you think it’s going to be a defensive struggle, you can bet the under hoping that the total points scored equals 209 points or less.
A parlay is a bet where you combine multiple bets into one bet and you get increased odds because you only win your parlay wager if all of your bets win. If you do a three-team parlay, you select three different teams from three different games and if you win all three of the bets you hit your parlay for longshot odds (6-1 so $100 to win $600). Going 0/3, 1/3, or 2/3 is all the same and you lose the parlay bet. It’s all or nothing which makes them tough to hit and is more of a home run type bet than a regular straight bet since there’s a chance for a big payoff.
It is quite simple to get started at an online sportsbook in New York.
Although not all sportsbooks will have all of these options, here are some of the most common ways to utilize banking at a sportsbook.
Some sportsbooks will offer you more money just for depositing money in the form of their currency.
simply put, some sportsbooks will offer you free currency just for signing up and being a first time user. Use them to try out different bets and functions on the respective website or app.
An odds boost essentially offers the opportunity of making more money on certain wagers.
Some sportsbooks will offer you a free bet up to a certain amount of money after you make your first initial deposit.
Yes it will be allowed.
No, there are currently no sportsbooks that are licensed at a federal level, as sports betting is not federally legal. All sportsbooks are operated and regulated at a state level.
Refer to the “How to Start Betting in New York” section above.
Each sportsbook will have similar options for depositing and withdrawing money. For the best answers, be sure to find those options from the sportsbook you will be using for betting.
Yes, you will have to be physically present in the state of New York to place a bet.
Each sportsbook will have a variety of options when it comes to games to bet on. For the best answers, be sure to check in with each individual sportsbook’s support team and websites to ensure you have the right games for you.
Problem gambling? Call 1-800-777-7207.
Need more sports betting information? Check out the Awesemo betting home page.