Online poker room and sportsbook Bovada has announced that it is leaving the New York state market on the 21st June 2021. In an email sent to all registered customers residing in New York state, the company said that as a result of the newly introduced regulation and restrictions on players within the state, it has made the decision to shut down its New York operations.
The email went on to explain that all players would be allowed to play up until June 21st, but that they should avoid placing any wagers for events that take will settle after the shutdown date. Any wagers made on events that settle after the 21st will be voided and the customer’s stake refunded.
The deposit function has already been removed and customers can only wager or play with their existing balances. Loyalty points have been converted into a cash bonus and no further points can be earned.
The company has also assured customers that any futures wagers for events or seasons that are already in progress will be settled early. However, the email doesn’t go into any details on the refund.
The email also notes that affiliates will continue to be paid for customer activity up until customer accounts are closed.
The decision to pull out of New York comes following the recent legalization of online sports betting and gaming in New York State. The move by Gov. Cuomo to regulate the online industry has led to fears that any online providers without licensing approval from the New York State Gaming Commission will face legal action as the state looks to protect its tax revenues.