Sports Gambling In New York – Legal NY Sports Betting

The Big Apple is one of the most famous cities in the world. New York City is a melting pot of cultures and backgrounds. The state has sports teams in each of the major professional sports leagues, including one of the most storied teams in American sportsthe New York Yankees. With the amount of teams from the varied leagues, there is a huge market for sports betting. Betting on these teams is a popular option for diehard sports fans in the New York region.

While betting on these teams can be fun, its important to be mindful of the laws surrounding online sports betting as they pertain to your state. Using this guide that we created specifically for New York residents, you can be well informed on the laws regarding sports betting in your New York and even the teams that are worth betting on. Once you are well versed in all things New York sports betting, youll be on your way to placing bets and making money.

There are no state laws in New York that prevent people from placing bets online. There are plenty of illegal bookies in the state where you can place bets, but those betting services are in violation of the states gambling laws and to engage in wagering with these bookies will definitely place you at risk. As far as federal laws go, there is the Professional and Amateur Sports Protection Act (PASPA), the Federal Wire Transfer Act and the Unlawful Internet Gambling Enforcement Act (UIGEA) that deal with gambling in the country, however these offshore sportsbooks that weve recommended for New York residents legally operate outside of US borders and hence outside of the jurisdiction of those laws, opening the door for New York residents to place bets online legally and safely.

Here were have provided a listing of the leading online sportsbooks that are legally sanctioned to provide betting services to sports fans around the world, including those in New York. They are each licensed and regulated,and offer a premium online betting expeience from start to finish. The list is pretty short. This is because we dont just include any brand that welcomes NY customers but rather only those New York friendly sportsbooks that are among the most reputable, trusted and high quality destinations in the business.

PASPA is one of the three relevant gambling laws, passed in 1992. The law deals with US based sports betting, which is a prohibited form of gambling in 46 stateswith only four states allowed to offer legalized, state licensed sports betting services. The four exempted regions are Montana, Delaware, Oregon and Nevada. This law only pertains to brick and mortar style sports betting, such as the sportsbooks in Las Vegas.

The Federal Wire Transfer Act deals with placing bets online and effectively prohibits US based online sports betting across the country. Amid controversy concerning the application of the law, the DOJ issued a Formal Opinion in 2011 that confirmed that the Federal Wire Act does indeed apply to US based online sportsbook gambling. They went on to clarify that the law does not pertain to any other type of US based online gambling, leaving the decision to offer online casino or poker gaming up to each individual state.

The UIGEA monitors financial institutions in regards to processing transactions related to gambling through regulatory oversight and restrictions. The law does not make it illegal for US residents to engage in legally licensed online sports gambling, and is not addressed towards the bettors in any capacity. The law places regulations on US banks, payment processors and gambling businesses. None of these federal laws makes it a crime for NY residents to enjoy online sports betting at offshore sportsbooks as long as those destinations are operating legally within the industry, hold legitimate licensing and are subject to regulatory oversight by an overseas governing jurisdiction.

The New York Yankees are arguably the most famous team in MLB history. The New York Mets are another MLB option for residents to bet on. Now whether you support one team or the other is a personal choice. In regards to the NFL, New York has two teams in the New York Giants and the New York Jets (both teams play out of a stadium in New Jersey). The New York Knicks and Brooklyn Nets play in the together in the NBAs Eastern Conference. New York hosts two teams in the NHL in the New York Rangers and the New York Islanders. All of these teams are fierce rivals against the other and are vying for the chance to call themselves the states best in their respective leagues.

New York Giants

New York Jets

New York Knicks

Brooklyn Nets

New York Yankees

New York Mets

New York Rangers

New York Islanders

Do All Sportsbooks Accept New York residents?

No, not all of the legally licensed sportsbooks welcome residents from New York. However, all of the sports betting sitesthat weve recommended enthusiastically accept New York residents. With the amount of sports teams New York has and the exciting rivalries that are present, it would be a shame if New York residents couldnt bet on their local teamsthese sportsbooks allow you to do just that. Keep in mind that you are not limited to betting on just NY sports teams. The betting lines at the brandswe feature here offer access to wagering on teams, games, matches and events all around the world.

Are Offshore Betting Sites Safe For NY Residents To Use?

Yes. The sportsbooks that weve recommended are legally licensed and operated. Although they are used worldwide, they do cater to American customers. By using secure servers and sophisticated data encryption, your personal and financial information is kept safe. Furthermore, you arent breaking any laws by participating in sports betting through these sites. PASPA, the Federal Wire Act and UIGEA dont pertain to these offshore destinations, so you can bet safely and legally without any worries about breaking the law.

Can I Use My Credit Or Debit Card To Deposit Funds Into My Sportsbook Account?

Yes, you can. Credit/debit cards are among the most popular options for depositing money into your sportsbook accounts. If youd like to choose another option, most sportsbooks offer other deposit methods like Bitcoin, wire transfers and more. Be sure to check with the Terms of Service for any other questions about deposits.

How Can I Withdraw My Winnings?

Checks through the mail are the most popular option for receiving your winnings. Unfortunately, your options for withdrawing money arent as open as they are for depositing money. For example, you may only be able to withdraw money via check, wire transfer or Bitcoin. The options vary from brand to brand, and you can see a list of available options in the sites banking suite.

Can I Have Accounts At Multiple Sportsbooks?

Yes, you can. There are no rules in regards to having accounts with multiple sportsbooks. In fact, its a good idea when considering bonuses they offer their customers. You can also gain access to more bets, shop for the most competitive odds and paylines, slect from a wider variety of wagering options and access more promotional offers by having accounts with multiple sites. As long as you keep track of any new bonuses coming out and the changing betting lines, you can make the most out of your multiple accounts.

What Are Sports Betting Bonuses?

Bonuses are promotions offered by the sportsbooks that weve recommended. They offer all types of bonuses from introductory and reload bonuses to seasonal promotions and more. These bonuses give the player what is essentially free money to bet with. For example, BetOnline offers a bonus where you get an extra 50% added to your online betting bankroll upon making your first deposit. If you have accounts with multiple sportsbooks then you have access to all the different bonuses available, giving you more betting power to leverage.

What About Paying Taxes on Winnings?

Gambling winnings are considered taxable income. Therefore, they should be reported to the IRS and you should pay the taxes on them accordingly. Failure to do so could lead to legal action taken against you. If you are fortunate enough to win big through sports betting, dont put it at risk because you dont want to pay taxes on your winnings.

Are There Any Sports Teams in New York That Have A Shot At Winning A National Title in 2017/2018?

The Giants would be the safer bet regarding NFL teams, as the Jets have been struggling more each season. The Giants even made the playoffs this year, so you can expect the Giants to make another push for postseason glory with the new season. Once the MLB season starts up, fans can begin placing bets on the Yankees and Mets. With a new season come new title contenders, so it may be a bit too soon to start making predictions. The Knicks and Nets are fortunate enough to play in the Eastern Conference of the NBA, however both teams are currently out of playoff contention and need to start winning some games if they want a shot at winning the title this year. The Rangers sit 4th right now while the Islanders are in last placeboth teams play in the same division. If the Rangers keep this up, theyll be the safer bet as the Islanders look set to miss out on the playoffs.

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Sports Gambling In New York - Legal NY Sports Betting