New York has the potential to become one of the largest gambling markets in the US. Right now, many online gambling options are restricted in the state, meaning NY residents have minimal options on the web.
However, that looks set to change very soon – as online sports betting has been given the green light for 2022. In fact, it might even be available by the time of the Super Bowl. By the spring, New Yorkers should be able to bet online for a full range of sports, including boxing and MMA. Looking to have a flutter on the next Joshua-Fury match? In 2022, it looks like NYC residents could do so from the comfort of their homes.
The situation is somewhat different regarding the online casino niche, which will not be covered by Kathy Hochul’s online gambling law.
For the foreseeable future, NY casino fans will be restricted to land-based gambling, at the commercial casinos in New York City, and the tribal casinos located in the north of the state.
However, that could change quite soon. Casino revenue is less seasonal than sporting betting revenue, which is focused on events like the Super Bowl, March Madness and mega boxing events.
New York state legislators will see a drop-off in gambling tax receipts by the spring and will likely turn to online casino to top the state coffers up. This is particularly likely given that so many states close to New York already offer online casino gambling.
States in the northeast US that already legalized online casino (as well as online sports betting)
It’s no secret that New York as been under competitive pressure to legalize online gambling. Many New Yorkers travel across the Hudson River to New Jersey, where online gambling has been legal since 2013. The New Jersey Division of Gaming Enforcement (DGE) licensed dozens of online casinos, sportsbooks, online poker rooms, and more, creating a healthy and competitive environment for operators and gamblers alike. Therefore, if NY wants to stay competitive and ensure a portion of the gambling profit, it should legalize online casino as soon as possible.
Pennsylvania also legalized online gambling in recent years, including casinos, sportsbooks, and poker, which has created additional pressure on NY legislators. PA is a huge market, and it’s currently rapidly expanding with many online operators offering their services to Pennsylvanians.
Other nearby states that legalized online casinos are West Virginia and most recently Connecticut – and research from GeoComply shows that in the first week that CT legalized online casino and sports betting, there was a huge amount wagered in areas like Stamford and Greenwich, i.e., as close to the border with NY as possible.
To sum up, the New York state residents have plenty of options outside the state, including NJ (which is usually the first state they go to), PA, WV, and CT. They can even gamble in Canada if they feel like crossing the border. All in all, the northeast of the US is getting highly competitive, and New York has to make a move if they want to maintain the balance and keep online gambling profits in the state. We expect online casino to be made legal in the state of New York by the end of 2022.