Is It Legal to Be a Bookie in New York?
Long gone are the days of wire rooms and money exchanges that often attracted all types of criminal activity and security concerns for otherwise safe neighborhoods. Prior to the early 2000's, bookie businesses were considered nuisances, and with good reason. Cops were often called. The bookie would be heavily scrutinized and eventually thrown in prison to rot, not just for bookmaking. Indictments usually factored in other crimes like tax evasion, money laundering, and even more violent activities.
Those bookmaking businesses are long gone and in their place are more tech and security savvy individuals who outsource most of their activities to what are known as Pay Per Head software and service providers.
Unless a bookmaker is engaging in other illicit activity it's pretty silly to come after these otherwise outstanding pillars of the community when they are running a business that is now considered fully legal in the Empire State.
AcePerHead recently broached the topic of whether it is legal to operate as a bookie in New York State.
Sports betting was made federally illegal in 1992. The Professional and Amateur Sports Protection Act (PASPA) made it legally impossible for people to place either in-person or online bets. However, this legislation was overturned in 2018.
This didn’t federally legalize gambling but rather left the decision to legalize it up to individual states. As of 2022, 30 states have some form of legal sports betting. New York is one of them!
It's not just legal here. Sportsbook advertise pretty much during every other commercial break.
There is one caveat.
Even if you have millions of dollars, no chance you obtain a license to run a sportsbook from the state due to the cap on operators. Sorry. You'll have to hold onto those millions.
What this means is you'll be unable to advertise your business on television, radio and the like. You might be ineligible to offer an app for your customers (only a browser-based customized website). You'll still have to pay a tax, but speak to an accountant regarding whether you need to pay the obscene 50 percent plus rate New York requires its licensed sites to pay. The Daily Fantasy Sports companies that operate here DO NOT and they offer prop type parlay bets, regardless of what they may claim.
Most local bookies will take bets on New York schools, a tremendous plus as regulated books that operate here cannot.
The AcePerHead PPH sportsbook service charges a small weekly fee per customer. You get the highest level of technology, 24/7 customer service, your own website, fully configurable boards, lines, props, limits and much more. Live in-play wagering is available. There is even an online casino and horse racing platform.
Payment gateways are crucial to the success of a betting platform because they’re what process payments. Without them, you cannot receive money from players or distribute winnings.
Ace Per Head’s payment methods include crypto, gift cards, and MoneyGram. These are great options.
AcePerHead is also offering ONE FREE WEEK PER MONTH for life.
- Aaron Goldstein, Gambling911.com
