New York Could See A Major Boost In Their Economy

The state of New York has been making headlines in the gambling world recently, as it has quickly become the nation’s leader in online sports betting. Although legal land-based casinos exist throughout the state, digital gaming is where the real money is being made. Analysts predict that online gambling could be even larger than traditional sports betting in the near future, leading to an explosion of revenue for New York online casinos. This is due to convenience factors such as 24/7 access from any location, increased accessibility for players, and debt-free deposits with ease and reliability—all of which have driven an increase in players from all around the country.

Looking ahead, it’s clear that New York will remain at the forefront of this groundbreaking industry, offering a wealth of opportunities for both gamblers and casino owners alike. Already impressive figures for online sportsbook overall handle suggest just how quickly New York could become a major player in this booming market.

A Huge Opportunity

Last week was a momentous one for the world of online gaming, with the release of a PlayUSA report that made waves throughout the industry. The report indicated that regulated mobile casino applications in New York could bring in as much as $3 billion per year, and if such a law were to pass it would make New York the undisputed leader in this rapidly growing segment.

Such an influx of funding is greatly needed—in these trying times, having an additional source of income can make all the difference for stateside residents. Moreover, this news was given added significance by the fact that only a small fraction of US states have so far legalized and allowed online wagering activities to take place within their respective borders.

New York’s Online Casino Gaming Legislation

Online gaming represents such a huge untapped market; but with this latest report and the potential it carries, there is real hope that further regulation and organized internet gaming will become more commonplace on an international level.

Sen. Joe Addabbo, D-Queens, has played a key role in the effort to bring online casino gaming to New York State. He serves as chairman of the Senate Racing, Gaming, and Wagering Committee and has worked diligently to get support for legalization. Sen. Addabbo has been vocal in his support of online gaming legislation in the past and is optimistic that it will help promote economic growth throughout the state by creating jobs, increasing tax revenue, and incentivizing business investment.

Real-Money Staff
by Real-Money Staff
November 24, 2022