New York is set to become the next US state to legalize online casinos as per NY.Bet. The legislation, which is expected to take effect next year, will make New York the fifth state in the country after New Jersey, Delaware, Connecticut and Pennsylvania to allow for regulated online gambling. This move marks a major shift in New York’s gambling landscape as up until now only land-based casinos and sportsbooks have been allowed.
What to expect?
There is a growing movement to legalize and regulate online gambling in the state. The New York State Senate has already passed legislation that would allow for the regulation of online poker and other forms of internet gaming. This bill is currently awaiting approval from the Assembly before it can be signed into law by Governor Kathy Hochul. If this bill passes, it could open up a new world of opportunities for players in New York. Players will be able to access the games via the internet on their computers or mobile devices.
The legal status
All forms of gambling are regulated by the New York State Gaming Commission, which was established in 1977. The commission oversees all aspects of gaming activity in the state, including casinos, racetracks, and lotteries. Casinos are only allowed to operate on Native American land and must be approved by the state legislature. Racetracks are also allowed to offer pari-mutuel betting on horse racing and greyhound racing. Lotteries are operated by the New York State Lottery Division and include scratch-off tickets as well as multi-state games like Powerball and Mega Millions. Online casino gambling is not currently legal in New York, though there have been attempts to legalize it in recent years.
Debates
The debate over the legalization of gambling, including online casino gambling, in New York has been ongoing for many years. There are several factors that have been considered in this debate, including the potential economic benefits of legalized gambling, as well as the potential negative impacts on society, such as increased gambling addiction and other social problems.
One argument in favor of the legalization of gambling is that it can provide a significant source of revenue for the state through taxes and fees. Legalized gambling can also create new job opportunities and stimulate economic development in the areas where it is allowed.
On the other hand, some people are opposed to the legalization of gambling because of the potential negative impacts it can have on society. Gambling addiction is a serious problem that can lead to financial and personal problems for individuals and their families. There are also concerns about the potential for increased crime and other negative social consequences of legalized gambling.
Overall, the debate over the legalization of gambling, including online casino gambling, in New York is complex and multifaceted, and there are valid arguments on both sides of the issue. Ultimately, the decision to legalize gambling will be made by the state legislature and governor based on the best interests of the people of New York.
Timeline
October 2001: Video lottery terminals were approved by the state legislature, allowing for the first legal gambling in New York since 1931.
2013: Governor Andrew Cuomo signed a law that allowed up to seven casinos to be built across the state, with four of them being located in Upstate New York and three of them located in downstate New York.
2018: Online betting legalization was proposed for the first time.
January 8. 2022: The first four online sportsbook apps went live.
February 24. 2022: Senator Joseph Addabbo introduced Bill 8412 that would authorize iGaming and online casinos in New York if it passes.
Revenues
In addition to providing a new form of entertainment for New Yorkers, the online casinos are expected to generate significant revenue for the state. According to estimates from the Gaming Commission, the online casinos could bring in upwards of $200 million in annual tax revenue for the state.
The move to legalize online casino gaming in New York comes as more and more states around the country are embracing the activity as a way to generate revenue and provide a safe and regulated alternative to offshore, illegal gambling websites.
It is not yet clear when the online casinos will be up and running in New York, as the Gaming Commission will need to establish the necessary regulations and begin the process of issuing licenses. However, it is expected that the first online casinos will be operational within the next year.
In the meantime, New Yorkers will have to continue to travel to neighboring states such as New Jersey, where online casino gaming has been legal for several years, to get their gaming fix. But with the legalization of online casinos in New York, that will soon change.
