How to Place a Bet in New York

As states continue to legalize sports betting, more and more bookmakers are beginning to emerge.

With New York recently legalizing online sports betting, it’s no wonder that many of the major sportsbooks have jumped into the mix trying to get a piece of the action.

The exciting news is that you no longer have to go to a physical sportsbook to place a sports bet; instead, many online sportsbooks allow you to wager on anything from the comfort of your sofa or while socializing with your buddies next to the barbecue.

But while all of this is good news, many New Yorkers have never even placed a bet and don’t know where to start.

So how do you make a wager online?

We’ve created a simple step-by-step tutorial on how to place a bet online so you’ll be an expert in no time.

Each stage also contains a link to a more comprehensive explanation if you get stuck.

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Steps For Making a Sports Bet Online

1. Finding the Right Sportsbook

The most significant and crucial decision you’ll have to make is, without a doubt, which New York sportsbook is the best suited to your needs.

FanDuel, DraftKings, Caesars, and BetMGM, along with numerous other major sport betting companies have betting apps available in New York. But, before you rush in and download the one your friend suggests, think about it for a while (let’s be honest, they’re probably a newbie too). Do yourself a favor and check out the advantages and disadvantages of each book before making a selection!

This might be a difficult task depending on where you get your reviews. So we’ve taken the liberty of creating a straightforward pros and cons list on our review pages for each Sportsbook available to make things easier for you.

The crucial thing to remember is that some bookmakers provide various incentives, some offer live streaming, and some offer bonus bets.

These are the most important factors to consider when selecting which Sportsbook is ideal for you.

Take a look at our real player reviews to see what actual players think about each Sportsbook in New York.

Don’t be scared to inquire about betting on sports from people who have done so previously. Some may tell you that signing up with certain websites is painful or that their cash out procedures are Difficult or not worth the hassle.

The more info you can get ahead of time, the better your sports betting experience will be, and in the long run, you’ll be better off.

2. Create a Sportsbook Account

After you’ve discovered a legal NY sportsbook that meets your criteria (or at the very least, the majority of them), it’s time to create an account. All it takes is a few minutes of your time; you can do this by going to the sportsbook site of your choosing and clicking the “sign up”, “join,” or “create account” button.

You’ll be prompted to enter personal information, which is then used to confirm that the created account is registered to a real person rather than a phony one set up for illegal purposes.

The majority of this sign-up information is precisely the same, with similar data such as:

  • First Name
  • Last Name
  • Date of Birth
  • Address
  • Username
  • Password
  • Email Address

After you’ve completed your profile, your account will be established, and you’ll be ready to go!

3. Make a Deposit

It’s time to deposit money into your sportsbook account now that you’ve created one.

To make your first deposit, go to the deposit button, which will take you to a separate page.

Because this is the first time you’ve made a deposit, you’ll need to select an option to fund your account. Different sportsbooks provide a variety of payment choices for funding your account, although the most popular would be considered typical depositing choices such as:

  • Credit or Debit Card
  • Prepaid card (sportsbook card)
  • PayPal
  • Online Bank Transfer
  • Check
  • Wire Transfer
  • ACH (eCheck)
  • Play+
  • PayNearMe

ACH, credit or debit cards and bank transfers are the quickest ways to get your money and the most common forms of depositing into sportsbooks.

Don’t Forget the Sign Up Bonuses

When you first join up for a sportsbook account, they often give you a sign-up bonus when you make your initial deposit (commonly known as risk-free bets since the Sportsbook matches your deposit with free bets that you can use, which cost nothing).

Another item to consider is that we’ve partnered with many sportsbooks, and they’ve given us better sign-up bonuses than they do to their regular sign-up clients!

4. Understanding Betting Rules

To keep their online betting license all sportsbooks have established rules and procedures that both the Sportsbook and its customers must follow. If you didn’t have a chance to read them before signing up, they would most commonly be available in the terms and conditions section found at the bottom of their website.

Don’t assume you know the rules before placing a bet. It’s usually better to double-check the regulations rather than being caught off-guard by something after your money is on the line.

5. Set a Budget

Setting a deposit limit is perhaps the most crucial aspect of establishing your betting account.

The most common mistake made by inexperienced sports bettors is failing to set or maintain a budget.

We’re all familiar with the situation of losing everything after getting hooked on gambling, as we’ve all heard our fair share of stories.

In most cases, the deposit limit option can be found in the same location where you add money to your account; however, this varies from sportsbook-to-sportsbook based on whether or not you can establish a deposit limit when creating your account.

6. Place Your Bets

Finally, it’s time to place some bets!

Typically, sportsbooks cater to a broad audience and provide both markets on their sites; whether you’re into sports or racing, some sportsbooks also offer online casinos.

To wager, go to the sports event of your choice, choose between single bets and same game parlay options, click the betting option you want to place a bet on, then fill out the betslip that appears. It’s that simple!

The betslip will include all of the necessary information about your bet, so if you make a mistake, you have the option to delete it or the entire betting slip and start again.

All you have to do now is decide how much money you want to put as your betting stake, and whether there is an option to utilize your bonus bets, click “Place Bet”, “Bet’,’ or another variation of the bet option, confirm your wager, and you’re done!

All you have to do now is sit back and relax while waiting to discover whether your wager won.

Another thing to note is that not all sportsbooks allow you to place bets while an event is live (currently in play), though most of the major sportsbooks do, it is worth checking this out by browsing around the screen after you have signed up.

7. Check other Sportsbooks

This is a plus that comes from someone who has been using online sportsbooks for years, don’t restrict yourself to just one Sportsbook.

Now that you’ve discovered the one prominent Sportsbook you think is a good fit for you, I’m sure there were a few other sportsbooks available in New York that you were tossing up between. So now is the time to check our reviews to see which sportsbooks frequently give good deals.

Everyone here in the office is signed up to numerous sportsbooks and take advantage of the bonus bets and promotions of each Sportsbook as we see fit.

If several sportsbooks offer 3 bonus bets per day, but we want to place a wager on every NFL game this week, it only makes sense to spread our bets across numerous sportsbooks to take full advantage of the promotions they offer.

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How to Place a Bet Online in New York FAQ

Is online betting legal in New York?

Yes, online sports betting has been legalized in New York. This means residents and visitors can place bets through licensed and regulated online sportsbooks.

How do I choose an online sportsbook in New York?

Look for a sportsbook that is licensed to operate in New York. Consider factors like the variety of sports and types of bets offered, user interface, customer support, and promotional offers.

What do I need to register for an online betting account?

Typically, you’ll need to provide some personal information such as your name, address, email, and the last four digits of your SSN. This is to verify your identity and ensure you meet the minimum age requirement.

How do I deposit money into my betting account?

Most sportsbooks offer various deposit methods, including credit/debit cards, bank transfers, e-wallets like PayPal, and more. Choose the most convenient option for you.

What types of bets can I place online?

You can place a wide range of bets, including but not limited to, point spreads, moneylines, totals (over/under), futures, parlays, and live betting.

Can I place bets on my mobile device?

Yes, most online sportsbooks in New York offer mobile apps or mobile-optimized websites, allowing you to place bets from your smartphone or tablet.

How do I withdraw my winnings?

You can withdraw your winnings through the same method you used to deposit or choose another available withdrawal option offered by the sportsbook. Withdrawal times vary based on the method.

Are my winnings taxable?

Yes, winnings from gambling are considered taxable income by the IRS and the state of New York. It’s advisable to consult with a tax professional for detailed advice.

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