It’s the city that never sleeps, it’s the big Apple… and now New York is becoming one of the major hubs for gambling in the US.

In recent years the whole state has become a major hub for both online and offline casino markets.

The New York gambling scene

Here are the details of this evaluation in the New York gambling scene;

Online Sports Betting

Online sports betting has been legal in New York since January 2022. It has grown fast and now includes major platforms like DraftKings, FanDuel, BetMGM and Caesars Sportsbook.

New York quickly became one of the top states for online sports betting. A 51% local sports betting tax has enabled the state to generate more than $1 billion tax revenue a year.

There are currently 10 licensed mobile sports betting operators in New York. This number may increase as the state looks to expand its offerings.

Online Casino Gambling

Unlike sports betting, online casino games like slots, blackjack, roulette are not yet legal in New York. However, there is increasing pressure to legalize it, following the success of online sports betting.

Legislators have introduced bills in recent years aimed at legalizing online casino gaming but they have faced resistance due to concerns about problem gaming and regulatory complexities.

Retail Sports Betting (In-Person)

This has been legal since 2019, although limited to licensed commercial and tribal casinos.

There are several casinos offering in-person sports betting, including major players like Resorts World Catskills, Rivers Casino & Resort in Schenectady and Del Lago Resort & Casino.

While popular, retail sports betting has seen much lower revenue compared to online sports betting. Modern convenience and accessibility increasingly drive players to mobile platforms.

Tribal and Commercial Casinos

New York has four commercial casinos which offer a variety of table games, slots, and poker. These are located upstate.

The state also has several tribal casinos operated by Native American tribes, including the Seneca Nation and the Oneida Nation. These have exclusive rights in certain areas.

In addition, the state has approved the addition of three new downstate commercial casino licenses, with locations expected in or near New York City. This will significantly expand the offline gambling market.

Lottery and Horse Racing

The New York State Lottery is one of the largest in the US and there is also a strong tradition of horse racing with major tracks like Belmont Park, Saratoga Race Course, and Aqueduct Racetrack. Betting can be done in-person or via online platforms like NYRA Bets.

The future of New York gambling

The New York State Gaming Commission still oversees all forms of gambling in the state, including regulation and licensing. It is facing a strong push to legalize online casino gaming, which could further boost state revenue.

The upcoming downstate casinos are expected to reshape the landscape, making gambling more accessible to a larger population.

The industry is sure that the New York market shows strong potential for continued growth, especially in online sports betting. There’s a large, enthusiastic sports fan base.

In addition, the outcome of the 2024 US election could significantly change the landscape of gambling regulation in New York.

It’s unclear yet, but the new New York’s legislature could accelerate efforts to pass bills for online casino legalization in 2025.

The process for awarding the three downstate casino licenses is already underway, but any new state administration could influence where these casinos are located and which operators are selected.

This decision will affect competition. It may change the market dynamics significantly.

Also if there is a shift in control of the Congress or changes in the federal administration’s stance, there might be renewed interest in federal regulation of online gambling.

There may be pressure to create a uniform framework across states. This could impact how New York operates.

Federal tax policy changes, especially those targeting corporate tax rates or digital services, could affect the profitability of online gambling operators in New York. This might influence their expansion plans or their lobbying efforts for further legalization of online casinos.

Some federal lawmakers have expressed concerns about the rapid growth of online sports betting.

If a more conservative Congress emerges, there could be attempts to restrict online gambling at the federal level. But it could shift the other way, with more open legalslation.

The gambling industry has become a powerful lobbying force in New York, especially given the financial success of online sports betting.

Companies like DraftKings, FanDuel, and BetMGM will likely increase their lobbying efforts post-election to push for online casino legalization.

Industry experts currently predict that New York state will continue expanding its gambling market. The ball is currently bouncing round the roulette wheel however.

The speed and precise details of New York’s growth will depend on the evolving political landscape and regulatory pressures.

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