Yes, Bet365 operates legally in New York under the state’s 2023 sports betting law, which permits online wagering via licensed platforms. The New York State Gaming Commission (NYSGC) regulates operators like Bet365, ensuring compliance with strict licensing, tax, and consumer protection standards. While mobile sports betting launched in January 2022, Bet365 secured its license in 2024, aligning with the state’s phased expansion to include additional operators by 2026.
Key Regulations for Bet365 in New York
- Licensing Requirements: Bet365 must hold a valid license from the NYSGC, which mandates background checks, financial disclosures, and ongoing compliance audits. The license is non-transferable and subject to annual renewal.
- Geofencing Mandates: All mobile wagers require GPS verification to confirm the bettor is physically located within New York state boundaries. Failure to enforce geofencing results in penalties, including fines or license suspension.
- Tax and Revenue Sharing: Bet365 is subject to a 51% tax on gross sports betting revenue, with a portion allocated to education and problem gambling programs. The NYSGC audits financial records quarterly to ensure accurate reporting.