Big Apple Bets: The Evolution and Future of Online Gambling in New York

As sensitive as the topic is in New York, gambling has been a part of America’s culture for centuries now. NY has always embraced gambling, a practice that was encouraged even from the foundation of the state. 

It wasn’t until the mid-1800s that this activity was outlawed, and then reinstated in the form of lotteries in 1967.

Today, New Yorkers have the freedom to take part in games of chance on the internet, regardless of the status quo on legality. Here’s what the evolution of gambling in NY looks like. We’ll also take a peek at what the future holds for this state in regards to gaming, so let’s get started.

What Early Gambling Looked Like

The 1900s were characterized by illegal gambling taking place in elite clubs. Card games, dice, sports betting and other games of chance were rampant within this area. Interestingly, these individuals also placed bets on political elections, an activity that was practiced every election season.

As was the case with illegal betting in that era, illegal activities and crime surrounded this activity. The need to find a solution to reduce the high gambling-related crime rates was acknowledged. 

The government at the time legalized off-track betting. This meant that shops could operate within the state and give more bettors a chance at this forbidden activity.

Racinos were legalized more than a century later, a decision that was advised courtesy of the increasing demand for more casino games other than track betting and lotteries. 

This was an excellent moneymaking venture that wouldn’t have been missed by the NY government. To ensure they capitalized on this opportunity, these casino games were permitted only in track gambling spaces. A win-win for both the legislators and NY residents.

Surrounding states were also not left behind in this faze. Seeing that this was an excellent way of collecting revenue, they also legalized most, if not all, gambling activities. This ushered in an era of unrestricted wagering and income collection.

By 2013, legislators were routing for the full legalization of gambling in New York. This bill was voted in by New Yorkers at that time through a referendum and it became law.

The Rise of Internet Gambling

Around this time, internet gaming became a fad that was gaining popularity among the wagering community around the globe. Fast internet speeds and smartphones that allowed mobile gaming were part and parcel of this new wagering trend.

Things were quite different in New York as online gambling was virtually illegal. There wasn’t any laid framework to address the gap in the state. Much of what was taking place was offshore gambling. Seeing that sports betting was already legalized in tracks, there arose a need to follow up with the same in the virtual space.

A plan was laid out in 2021, eight years after the legalization of land-based sports gaming. The state government intended to offer online betting but also limit the scope of which the activity would rule the internet space.

By the end of the year, everything was set. However, it wasn’t until early 2022 that sports betting enthusiasts got a taste of legal internet gambling in their jurisdiction. 

While New Yorkers had a right to play all other casino games on the internet, it was restricted to playing for fun. Anyone intending to play in a real money online casino New York had to drive to New Jersey or use an offshore casino.

The Future of Online Gambling in New York

There has been pressure to legalize all forms of betting activities, for online and in-person casinos in NY. The state government must curb illegal gambling to protect its citizens against fraud. 

However, the biggest determiner of this decision is the amount of revenue gambling can raise in a year. The more cash it can generate for the government, the higher the chances of taking the day.

As it is, the New York government is lagging regarding revenue collection. A deficit of $4.3 billion on its part makes it necessary to leverage new ways of making money. In light of this NY legislators have tabled a proposal that will legalize all forms of gambling including card games, dices, and table games.

The reasoning behind this proposition is that most of the revenue they would have collected is being enjoyed by neighboring states. These jurisdictions are accepting New York gamblers into their virtual casinos for real cash gaming.

Legalizing these activities will lessen the tax burden by an increase of up to $1 billion in tax collection every year. However, there’s a conflict of interest circumventing this proposition. 

Legalizing online betting sites would mean that brick-and-mortar casinos would lose a significant amount of revenue, owing to the attention shift to the virtual staking space.

Nevertheless, legalizing iGaming will boost job market creation significantly. Live casino betting seems to be leading in betting activities that New Yorkers search for in offshore casinos. This tabulates more live casino setups within the state to facilitate these gaming activities if the bill passes into law.

What Lies Ahead for NY Online Gambling

The future is promising for New York gamblers as their legislators are tabling a bill to legalize internet gaming in their jurisdiction. This could bring to an end the longstanding battle between residents and lawmakers regarding online gambling.

The creation of new job opportunities is just one of the many perks this state will enjoy once betting virtually is legal in the area. However, the state is bound to benefit from a significant increase in tax and revenue collection if the law is established. NY could make as much as $500 million in tax revenue if it expanded betting to include online casinos.

In this case, the state may have to tighten their reigns regarding the legal minimum gambling age to avoid having a community of underage gamblers. Twenty is the legal gambling age in many states, although some of them have lowered the age to 18 years where online betting is permitted.

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