March 12, 2024

Is Online Gambling Legal in NY?

By Geraldine

New York does not permit online casino gambling; however, residents are permitted to bet money on daily fantasy sports sites and use mobile apps to place real-money bets at sportsbooks using real money bets placed through mobile phones apps. Although New York may not yet be ready for fully regulated online gambling despite efforts by its legislature and some hurdles still to clear away – there may still be opportunities.

New York state is home to numerous land-based casinos, such as Caesars and Empire City Casino. Both establishments are now exploring how they can expand into the digital realm by launching online versions of their casinos that feature many of the same games found at physical casinos while adding some unique touches.

People engaging in gambling commit an act when they engage in any activity that constitutes a form of gaming for money or value; under New York law this includes anything from playing poker to picking up tickets at number locations. There are certain activities which are illegal gambling; for instance allowing gambling activities on one’s property or renting property with the intent to promote or participate in gambling are considered violations of state law.

New York boasts more than just land-based casinos; in addition, several racetracks and horse racing facilities have introduced sports betting, helping increase revenue in the state and raising it by over 15 percent since November’s record of $2.1 billion was broken in December. In fact, December saw sports betting handle in New York hit an all-time record high at $2.04 billion!

Legal New York online casinos may seem unlikely, yet lawmakers are pushing hard for this dream. State Senator Joseph Addabbo introduced bill S4856 that seeks to legalize and launch iGaming within New York – this represents a crucial step toward legal casino gaming in New York and could prove crucial for its economy.

Should online casino gambling become legalized in New York, it is expected to become an enormous industry. Estimations project that the market will reach $5 billion by 2023 – this amount represents a great boon for the state given their significant budget deficits.

Other than making money for its state, online casinos can bring other advantages. For example, they may help create jobs and promote tourism while simultaneously contributing to local economies and increasing tax revenues.

Addabbo has submitted his bill for review by the Senate Racing, Gaming, and Wagering Committee of New Jersey; however this doesn’t necessarily indicate it will pass in 2023-2024 legislative session. Should it pass, many top companies from New Jersey may apply for licenses under it such as Wynn Resorts, Caesars Entertainment Corporation (Caesars), Mohegan Sun Casino etc.