Reasons Why Online Casinos Could be Legal in New York State in 2024

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The online betting and gambling battle in New York started back in 2018 when the US Supreme Court shut down the 1992 Professional and Amateur Sports Protection Act. Floodgates have opened, and New Jersey was among the pioneers with online betting and casinos. In the following years, twenty states joined in on the fray with their versions of online betting, casinos, or both, proving online casino legislature is possible. Until recently, it was impossible to do any form of online betting or casino play in the Empire State.

After a grueling legal battle and a legislative tug-of-war, online sports betting became legal in January 2022, available for anyone over 21. Nine sportsbooks provide the service, and the legislators who wish to ride the wave are not stopping at online sports betting but are aiming to enable legal online casinos. New Yorkers can currently travel to neighboring states, which are enclosing and tightening the grip around New York, or use any offshore sites. When it comes to best paying online casinos, Vlad Grindu says many are based offshore with a Curaçao eGaming License and other reputable offshore licences. These sites offer huge welcome bonuses and have games with an RTP (return to player) of up to 99%, so it’s easy to see why they are so popular.

However, not all states require players to look overseas for the best results. For example, New Jersey has been doing great for the last ten years, and made over $7 billion in revenue. What does that mean for the state? The New Jersey online betting and casino contributed towards the state treasury with $1 billion in state taxes, helping the state treasury. The argument could be made that all the New Yorkers who go to the neighboring state to play in online casinos could do the same in their state and contribute to the local economy. Should online casinos be legalized, crypto gambling would not be far behind, further fueling the argument for online casino legalization.

Pennsylvania, Connecticut, Delaware, and Rhode Island have all made online casinos possible, and New York is starting to lag behind, as successful practices are all around, and any can be a case study. Even with the current proposed high taxes of 30.5% (which is low compared to a proposed 51% for sports wagering) rates and a $2 million licensing fee, there would "only" be 20 available licenses for online casinos, but there's no shortage of casino companies and New York's potential is incredible.

When sports betting became legal, it quickly caught up to its New Jersey rival, generating $1.76 billion in 2023, and there's no reason for online casinos not to succeed in the same manner. With high proposed tax rates, limited and high licensing fees, and high market demand, New York's state treasury would benefit greatly, and the budget fights against New York's $4.3 billion deficit could finally be gone if not relieved.

In numbers, when Pennsylvania, Michigan, and New Jersey combined, only then do they support New York in population, and each of the mentioned states made over $1 billion in online casino revenue each year. Experts believe New York could make over $2.5 billion in revenue from online casinos per year, and over $840 million in taxes. Parkside Group's recent pool also showed that over 51% of New Yorkers wish for online casino legalization. The pieces are all here, and it's up to New York legislators to finish the job.

 If you or anyone you know has a gambling problem, call 1-800-GAMBLER.