New York’s First Gambling Sportsbook
While New Jersey, Massachusetts, and Pennsylvania have approved gambling sportsbooks, only one state is allowing them to operate. In New York, Michael Rubin’s fanatics company is planning to open a gambling sportsbook. He is the co-owner of the 76ers. Fans of the NBA and NHL will be thrilled to know that the fanatics team will offer betting options. If the sportsbook is successful, it could be the largest in the country.
In order to offer sports betting, the gambling sportsbook must be licensed in the jurisdiction of its players. This is necessary for bank transfers, tax accounting, prevention of underage gambling, and money laundering. In contrast, Bitcoin-based sportsbooks do not require player identification. All they require is the link ID of the player’s crypto wallet. This is a big draw to this option. Aside from that, Bitcoin-based sportsbooks can be trusted to pay their customers quickly and offer competitive odds.
The legalization of sports betting has been a long and hard road, but operators were ready and waiting for it. Unlike in the Wild West, a legal sportsbook must check many boxes to ensure that they are legitimate. To become licensed, the sportsbook must pass a rigorous approval process. Once it has received state approval, it can open its doors to the public. Then, it must maintain high standards for integrity and customer service.