Resorts World Bet has just announced that it is stopping operations in New York starting June 30, and users' deposits and bets can still be taken until June 16, while withdrawals can be done until June 22. Despite being one of the original sports betting operators in the state, Resorts World Bet never really gained a significant foothold - with many customers preferring bigger names like DraftKings, FanDuel, and Fanatics.

Resorts World Bet, one of the original nine online sports betting operators licensed in New York, has announced that it will cease operations in the Empire State at the end of this month. The company informed customers that it will stop accepting bets and deposits after Sunday, the 16th of June, and all account withdrawals must be completed by Sunday, the 22nd of June. The platform will officially shut down on Monday, the 30th of June.

Launched alongside other major operators on January 8, 2022, Resorts World Bet entered New York's then-brand-new legal online sports betting scene with high hopes. However, despite the initial excitement, the brand failed to capture a significant share of the state's highly competitive market.

Struggles in a crowded market

Resorts World Bet never gained the traction seen by dominant players like DraftKings, FanDuel, and Fanatics. From its launch through May 2025, Resorts World Bet reported a modest $263 million in total betting handle. In contrast, FanDuel alone has recorded over $27 billion in handle since 2022 - demonstrating the vast disparity in market penetration between the two operators.

As the official sports betting arm of Resorts World Casino, the platform struggled to differentiate itself in an environment where brand loyalty, user experience, and marketing muscle play a major role. Many New Yorkers seemed to stick with better-known national brands, leaving Resorts World Bet unable to carve out a sustainable customer base.

The announcement of the platform's closure was delivered via email to users and has since been confirmed through a banner on its official website. Attempts to reach Resorts World representatives or the New York State Gaming Commission for comment have gone unanswered.

Another operator bows out

Resorts World Bet becomes the third online sportsbook operator to depart the New York market since legalization. Wynn Interactive previously announced in late 2023 that its platform, WynnBET, would cease operations in the state. That license was eventually acquired by Penn Entertainment as part of a $25 million deal involving WSI US, paving the way for ESPN BET's launch in New York on September 27, 2024.

Similarly, PointsBet sold its US operations, including its New York license, to Fanatics Betting and Gaming for $225 million in June 2023. Fanatics Sportsbook subsequently debuted in the state in February 2024. These departures are indeed a growing trend: even well-established brands may struggle to survive in states like New York, where high tax rates and fierce competition make profitability a challenge.

What's next for the license?

With Resorts World Bet preparing to exit, speculation now turns to the future of its valuable online sports betting license. Any transfer or sale would require approval from the New York State Gaming Commission, and potential buyers will face the steep cost of entry.

New York's tax structure imposes a 51% tax on gross gaming revenues - one of the highest in the country. While this deters some would-be operators, it hasn't stopped deep-pocketed companies like Fanatics or ESPN BET from entering the state in recent years.

Despite the challenges, the reward is potentially massive. New York consistently ranks as the country's top market in terms of monthly betting handle and revenue, offering operators a chance to generate millions in revenue in a matter of days.

Resorts World Bet's decision to withdraw from the New York online sports betting market marks the end of a short-lived effort to compete with industry giants. While its departure may not come as a surprise to many observers, it does open the door for another operator to potentially step in - if they're willing to pay the price of admission.