As New York embraces sports betting, payment technology specialists embark on expansion into the area, seeking to improve the overall user experience, as Nuvei announced it has been granted approval by the New York State Gaming Commission
It comes after the commission approved five operators this month – Caesars Sportsbook, BetMGM, DraftKings, FanDuel and Rush Street Interactive – which are all now able to accept mobile and online sports wagers in the region.
Nuvei Chair and CEO, Philip Fayer, commented on the move: “Nuvei announced strategic alliances this past year with multiple US-regulated operators. We are pleased to now be supporting online sports betting operators and platform providers with a convenient, fast and secure payments capability to serve their New York customers.
“This marks another step in our journey to expand with the growing industry as several states and countries are in the process of regulating online sports betting.”
Underlining just how significant the expansion into the market is, GeoComply recently compiled data highlighting that more than one million accounts have been created across the five authorised sportsbooks in the state of New York since its mobile sports betting market launched.
The firm’s data detailed that from the New York market’s launch on January 8: 1.2 million accounts are active in the state, with 878,000 unique players – more than New Jersey and Pennsylvania combined over the same period; only 9.3% of NY players have placed bets previously in NJ, easing cannibalisation concerns; and 770,840 (87.8%) of NY players are brand new to regulated online sports betting (never before seen in GeoComply’s systems.
Lindsay Slader, Managing Director of Gaming at GeoComply, commented: “The momentum of New York’s sports betting launch has continued and it is mostly home-grown. The vast majority of users are brand new to regulated sports betting in the US.
“The data tell us that New Yorkers are dumping illegal sportsbooks for the new legal options and operators are also excelling at attracting first-time bettors.
“New York hasn’t failed to dazzle us, but we are also impressed by the sustained growth of the overall sports betting industry. We can’t wait to share how many more GeoComply data records are broken from now through the Super Bowl,” concluded Slader.