New York has the potential to become one of the largest gambling markets in the United States. Currently, many online gambling options are limited in the state, which means New York residents have minimal web-based options.
However, that should change very soon – as online sports betting has been given the green light for 2022. In fact, it might even be available when the superbowl. By spring, New Yorkers should be able to bet online on a range of sports, including boxing and mma. Looking to have a flutter on the next Joshua-Fury match? In 2022, it looks like New York residents could do it from the comfort of their homes.
The situation is somewhat different when it comes to the online casino niche, which will not be covered by Kathy Hochul’s online gambling law.
For the foreseeable future, New York casino fans will be limited to land-based gambling, New York commercial casinos, and upstate tribal casinos.
However, that could change very soon. Casino revenues are less seasonal than sports betting revenues, which focus on events like the Super Bowl, March Madness and boxing mega events.
New York State lawmakers will see a drop in gambling tax revenue by spring and will likely look to online casinos to fill state coffers. This is especially likely given that many states near New York already offer online casino games.
States in the Northeast of the United States that have already legalized online casinos (as well as online sports betting)
It’s no secret that New York has come under competitive pressure to legalize online gambling. Many New Yorkers cross the Hudson River to New Jerseywhere online gambling has been legal since 2013. New Jersey’s Division of Gaming Enforcement (DGE) has licensed dozens of online casinos, sportsbooks, online poker rooms, and more, creating a healthy and safe environment. competitive for operators and gamers. Therefore, if NY wants to stay competitive and secure a portion of gambling profits, it should legalize online casino as soon as possible.
Pennsylvania has also legalized online gambling in recent years, including casinos, sports betting and poker, which has created additional pressure on New York lawmakers. PA is a huge market, and it is currently growing rapidly with many online operators offering their services to Pennsylvanians.
Other neighboring states that have legalized online casinos are West Virginia and, more recently, Connecticut – and the search for GeoComply shows that in the first week that CT legalized online casino and sports betting, there was a huge amount of money wagered in areas like Stamford and Greenwich, i.e. as close to the border with NY.
To summarize, New York State residents have many out-of-state options, including NJ (which is usually the first state they travel to), PA, WV, and CT. They can even play in Canada if they feel like crossing the border. Overall, the Northeastern United States is becoming very competitive, and New York needs to act if it is to maintain the balance and retain online gambling profits in the state. We expect the online casino to be made legal in New York State by the end of 2022.