Legal Sports Gambling In New York
Gambling Options in New York That Won’t Get You in Trouble
The city of New York is a very popular tourist destination in addition to being one of the most incredible economic success stories in North America. While large centers such as this often have an atmosphere of permissiveness, visitors may be surprised to learn that if they are looking for legal sports gambling in New York, their options are severely limited. This is probably doubly confusing when one considers the prevalence of bookmakers and betting opportunities in the city, but just because something is everywhere does not make it legal!
Sports Betting in New York
Betting in all sports was once a common thing in North America, as it is still today in most other parts of the world. However, several gambling scandals caused both state and federal governments to make sports gambling against the law. Most of the new laws meant that being caught making bets or taking wagers on a sports event would get someone a day in court at the very least. While sports gambling is certainly not the most pursued illegal activity in the nation, and is in fact one of America’s most popular pastimes, people who choose to gamble on sports that are not officially condoned by law do run the risk of getting in trouble.
Legal Sports Gambling in New York
There are two basic types of sport gambling that are permitted by law in the state of New York. The most popular type of gambling is that involving fantasy pools, and the second type is gambling based on sports that use the pari-mutuel payoff system.Any other gambling activities in New York on sports events are officially illegal, and this includes betting on sports over the Internet.
Anyone who enjoys sports is certain to have noticed the increase in popularity of fantasy pools over the last decade. Once only done between groups of friends, the recognition by law of fantasy pools as legal gambling activity has meant a spike in their cultural appearance. Most sports magazines and television stations offer the chance to win their fantasy pools, and of course they remain popular among friends and around the office.
Pari-mutuel betting, like fantasy pool, parlay, or over/under, refers to a system of betting. Pari-mutuel systems mean that the bet is taken at an officially sanctioned site on very specific sports (horse racing, dog racing, and jai alai). The joke of the pari-mutuel system is that the sport involved is as likely to be corrupted as any other sport not using the system, but in the case of pari-mutuel payoffs the house, and the government, is guaranteed a take of the total bets placed (NOT just the winning bets) as all bets are registered. The percentage is usually an incredibly high 17%!We sum up pari-mutuel gambling opportunities and how the betting works in several subsequent articles, but for now what is important is to realize is that there really are only two options when it comes to legal sports gambling in New York; betting where the government takes a cut, or using a traditional pool.