Online sports betting is legal in New York: What you need to know – syracuse.com

Now that online sports betting is legal and operational in New York state, placing wagers on sporting events is easy once you sign up. Plus, it can add some extra excitement to your viewing experience.
To get started, you can sign up using one of the promo offers below or our roundup here. Then go through a short “Know Your Customer” registration process for security purposes, and then make a first deposit using a debit card or connecting to a bank account. Once you complete those initial steps, you’re ready to bet.
Here in New York, you can bet on nearly any sporting event. Sportsbooks offer thousands of betting opportunities every day for more than 100 different sports and leagues.
However, one of the exceptions in New York is that you cannot bet on in-state college teams, such as Syracuse University. This applies to both home and road games. That said, you can bet on college teams from schools located outside of the state.
Betting on in-state collegiate events is prohibited, meaning that some college football bowl games and college basketball tournament games hosted in New York cannot be bet on.
When beginning to bet on sports, arguably the most important part to learn first is what different kinds of wagers are available and what each of them means. The most popular standard types are money line bets, point spread wagers and the game total (also known as the over/under).
Money line betting involves predicting which team will win the game. The margin of victory does not matter. With money line betting, one team will generally be the underdog, noted by a plus sign (+) next to their odds (ex: +250); and the other team will be the favorite, which can be identified by a minus sign (-) next to theirs (ex: -300). These odds, or prices, can be thought of most simply as relative to $100, with minus odds such as -300 meaning you’d have to risk $300 to win $100, while plus odds such as +250 mean that a $100 bet would profit/win $250.
Of course, you don’t want to be betting hundreds of dollars when starting out, so you can simply chop off a zero or slide over the decimal point for the same effect. If +250 odds indicate that a $100 bet would win $250, it could also be a $10 bet to win $25 or a $1 bet to win $2.50. Feel free to start small, especially while you get comfortable with the basics.
Point spread betting involves a handicap that can be thought of as how much the favorite is expected to win by, or how close the underdog is expected to keep the game. Let’s pretend there’s a Bills vs. Jets game. If the Bills are -6 on the point spread, that means they’re a six-point favorite. You take their final score and subtract six, hence the minus-6 terminology. So with Bills -6, they need to win by 7 or more for you to cash your bet. If they win by exactly 6, that is called a push and you get your risked wager amount back. However, if the Bills win by fewer than 6 or lose the game, you would lose the bet.
A bet on the total (also known as the over/under) is a wager on there being more or less than a predetermined number of total points, runs or goals scored in the game. Imagine the total is set at 8.5 for a baseball game between the Yankees and Nationals. If there are 9 or more combined runs scored in that game, the over wins. If there are 8 or fewer runs scored, the under cashes.
There are also plenty of other fun options, including player props, futures bets, and parlays. With player prop bets you’re usually betting on an individual player’s performance. For example, you can bet on Julius Randle to score more than 25 points in a game. Futures betting allows you to bet on outcomes far ahead of time, such as picking a team to win the World Series or Super Bowl before the season begins and riding the excitement throughout the year. Parlays entail combining multiple bets together for a bigger payout, but you need every leg (individual bet within it) to win in order for the overall parlay to cash.
For a deeper dive, check out the free Pickswise Sports Betting Guide.
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