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For Crypto Users, Sports Betting in New York is Not an Option!

byMaxwell Mutuma
January 10, 2022
in Cryptocurrency News

At 9 a.m. on Saturday, four New York sports betting firms will be live: DraftKings, Caesars, BetRivers, and FanDuel. Five more operators are polishing their apps in preparation for launch in the first quarter of 2022.

This is fantastic news for sports enthusiasts in the area. Bettors can use NY sports betting promo codes and sign-up links to get started if 21 or older and within state limits. 

Bitcoin, Ethereum, and the other major cryptos have undeniably altered the way we think about transactions. Decentralization has the potential to transform how we pay for goods and services. Cryptocurrencies have a decent possibility of becoming useful for cryptocurrency gambling and online sports bettors in the future. They are, however, ineffective at this time. Cryptos are not accepted by approved New York online betting applications. At the moment, none of the licensed operators in New York, including FanDuel Sportsbook New York, take Bitcoin.

Caesars Sportsbook, DraftKings, FanDuel, and Rush Street Interactive have been allowed by the New York State Gaming Commission to begin taking mobile sports wagers on January 8 at 9 a.m. EST.New York’s authorization of internet sports betting is a significant step forward. In the United States, 32 states have authorized sports betting, but only 18 have legalized mobile wagering. According to Macquarie analysts, the online sports betting industry in New York is likely to reach $1 billion in yearly revenue. According to the authorities, annual tax income from online sports betting will be over $500 million by the beginning of 2025.

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Maxwell Mutuma

Maxwell Mutuma

Maxwell especially enjoys penning pieces about blockchain and cryptocurrency. He started his venture into blogging in 2020, later focusing on the world of cryptocurrencies. His life's work is to introduce the concept of decentralization to people worldwide.

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