Another Operator Exits America’s Largest Sports Betting Market
Resorts World Bet has officially ceased its mobile sports betting operations in New York, marking another high-profile exit from the country’s largest and most competitive betting market. Currently, there are 8 NY betting sites left.
The Genting-owned sportsbook notified customers of its decision ahead of the closure, encouraging users to withdraw funds and settle bets. The decision reflects a broader challenge for smaller operators trying to stay afloat under New York’s intense regulatory and financial conditions.
A Market Too Competitive to Crack
Since launching in March 2022, Resorts World Bet struggled to capture a significant share of the state’s massive betting volume. Despite billions in total wagers placed across the market since legalization, Resorts World Bet accounted for less than 0.3% of total handle during its run.
Industry Warning: NY.Bet Criticizes State’s Betting Framework
Following the closure, NY.Bet, a platform monitoring New York’s gambling industry, issued a strong statement criticizing the direction of the state’s legal betting framework:
“Expectations about the New York sports betting boom have failed,” NY.Bet stated. “The state has not managed to make betting profitable or even interesting for players, operators, or marketers. The current model fosters unhealthy market conditions and risks collapsing the legal ecosystem altogether. If this continues, no mobile sportsbooks will remain active in the state.”
NY.Bet further highlighted that New York banned sweepstakes casinos and still hasn’t legalized online casinos, pushing many players toward offshore platforms offering better odds and bonuses. “This short-sighted approach risks driving players away from safe, regulated options and into the arms of unlicensed alternatives,” the statement continued.
