Mobile sports betting is officially live in New York.

Earlier this week, the New York State Gaming Commission announced that four licensed mobile operators, Bet Rivers, Caesars Sportsbooks, DraftKings and Fan Duel have been approved.

It's going to cost those operators though, all profits will be taxed 51% by the state.

Lawmakers in support of mobile sports betting expect this will generate $350 million in 2022 alone. 

"Well, you see in other states, mobile represents about 90% of their revenues for the industry," Richard Schwartz, CEO of Rush Street Interactive, said. "So Rivers Casino in Schenectady, who were connected with, they've been the leader in New York for the last couple of years at their sportsbook. But now, online is going to change it because everyone wants the convenience of betting on their phone or device."

Several upstate casinos began allowing in-person sports betting in 2019, but the push to tap into the more lucrative mobile market stalled while then-New York Gov. Andrew Cuomo questioned whether approving it would require a change to the state’s constitution, before he ultimately signed the the bill into law in April.

Democratic state Sen. Joseph Addabbo Jr., a longtime advocate for legal sports gambling, called the announcement “great news for New York in terms of revenue, new funding for education, addiction programs and youth sports, as well as new jobs.”

Since 2018, when the U.S. Supreme Court struck down a 1990s federal law against sports gambling in a case brought by then-New Jersey Gov. Chris Christie, about half of U.S. states have implemented some form of legal sports gambling. New York has seen neighboring New Jersey and other nearby states, most recently Connecticut, implement sports betting laws that lured away gamblers and revenue.

New York is now the 18th state where it is legal to place sports bets remotely through an online sportsbook.