Bet365 Could Take Over Resorts World Bet’s Spot in New York Sports Betting Market

Resorts World Bet is set to officially shut down operations in New York on June 30. According to Offshore Gaming Association (OSGA), UK-based sportsbook powerhouse Bet365 is one of the likely contenders to take over the outgoing operator’s license.

There’s already precedent for license transfers in the Empire State. Back in 2024, WynnBet sold its New York market access to PENN Entertainment — the company behind ESPN Bet — for $25 million.

OSGA reports that alongside Bet365, other potential bidders for Resorts World Bet’s license could include Hard Rock Bet and Underdog Fantasy Sports.

Bet365 is already live and licensed in a number of U.S. states, including Illinois, Tennessee, Arizona, Colorado, Indiana, Iowa, Louisiana, New Jersey, North Carolina, Ohio, and Virginia, with a Missouri launch also in the works.

OSGA notes that access to the New York market may be especially strategic for Bet365, as the company is reportedly exploring a possible sale or a U.S.-based IPO. Having a presence in the country’s most high-profile betting market would make either move significantly more viable.

“Even though no sportsbooks are making money in the Empire State [due to the state’s hefty 51% tax rate], it’s still deemed crucial for any company to be deemed a major operator they must have a legal presence in the state where sports betting handle in 2024 was $22.7 billion and is growing steadily each month,” OSGA said in its report.

Earlier this year, Bet365 announced its exit from the Chinese market.