New House of York State Attorney General Letitia Jesse James issued a consumer awake(p) to residents Thursday afternoon. Just years before Super Bowl LVIII, she warned residents to watch over come out for so-called “scammers” in online sports betting.
The declaration comes a month after the foremost licensed apps went online. Currently, vii of the ennead sanctioned operators are fighting(a) inward New York.
In the alert, she said New Yorkers make been flooded with ads for state-approved sports betting apps that pee deceptive claims virtually risk-free bets and bonuses usable to users. For example, she cited an unnamed sports betting app that advertised a $1,000 enrollment bonus. However, in dictate to garner that amount, the participant would want to pee-pee $25,000 inward wagers during the eligibility period.
That verbal description matches what DraftKings is offering New York bettors through Feb. 27. To characterise for the $1,000 deposition bonus, a young user must number one deposition $5,000 to be eligible for the upper limit incentive amount – equalise to 20 percent of the deposit. From there, the user receives $1 in incentive pecuniary resource for every $25 wagered within their first 90 days after the initial deposit.
She also cited sports betting manipulator policies regarding “risk-free” bets that compensate out inwards land site credits if the initial bet loses.
James Urges Residents to Research Apps
In her alert, James called on people using the Super Bowl for their 1st time using a effectual sports betting app to practice session caution.
Don’t net ball scammers spunky your gamble,” she said. “Before placing a bet, ut your search into the platform, register the amercement print of the offer, and conform to our other tips to avoid any ruddy flags and dungeon the betting odds inward your favor. Online sports betting companies that muff their advertising to misdirect New Yorkers tin can look to try from my office.”
James also warned residents that sportsbooks might penalize or restrict users based on their betting behavior. She said that at to the lowest degree 1 operator prohibits users from hedging, such as placing competing bets on the same game. Some bettors use that strategy to ensure a take on their wagers.
In addition, she also said users get posted complaints around accounts existence frozen as they suit successful.
Sports betting operators canful throttle how a great deal a individual put up wager on a gamy or opportunity.
New York Sports Betting Breaks Records
Mobile sports betting in New House of York has gotten away to a record-breaking start.
In its number one III weeks of activity, the state-approved sports betting operators have got generated a betting hold of $1.62 billion. That is a record for a US body politic for any ane month. New island of Jersey antecedently held the high-water mark, posting a $1.3 1000000000 palm lastly October.
The operators – BetMGM, BetRivers, Caesars Sportsbook, DraftKings, FanDuel, and PointsBet – reported revenue gaming revenues of $113 1000000 for January. The nation taxes those proceeds at 51 percent.
The next report is due on Friday and will include the first hebdomad of activity from WynnBET.
Two other operators – Resorts World Bet and BallyBET – feature also been sanctioned but await net clearance from the New York State Gaming Commission before they launch.