Will New York Online Casinos Ever Open?
Since New Jersey put its stamp of approval on legal online gambling in 2013, many states followed in its wake. Popular online casino “destinations” include Pennsylvania, Delaware, and Michigan.
Today, several states are waiting in the wings for legal online casino approval. New York is one of them.
The current online gambling market in the US is a competitive hub that generates mind-blowing amounts of revenue. In 2022, this niche sector made more than $63 billion. Experts predict a compound annual growth rate of almost 12% between 2023 and 2030.
Legalizing online gambling is a tedious process and often moves at a snail’s pace. However, when the ball gets rolling, it picks up momentum and steadily opens virtual doors of opportunity.
The run-up to legalized online casinos
The US Wire Act 1961 regulated — and stymied — gambling activities for a long time in an attempt to curb and control racketeering operations. It also impacted legal online gambling, which is ironic since this law was developed long before the internet changed the global shape of things.
It was only in 2011 that the Department of Justice gave the green light to states to develop and approve region-specific laws for online gambling. In line with this change, the Supreme Court stifled the Professional and Amateur Sports Protection Act 1992, which made things considerably easier for legal online sports betting.
The current clime dictates that each state should handle its own online gambling affairs. This means states have the authority to decide whether online casinos are legal or not in their respective regions.
Legalized gambling in New York traveled a rocky road. Initiatives, such as legal sports betting, did not initially carry the favor of the authorities. When the latter-mentioned gained legal status, online sportsbooks soon followed and are, at present, the main motivator for all-inclusive online casinos.
In the wake of the Indian Gaming Regulatory Act 1988, seven land-based, tribal casinos opened their doors in New York. Surprisingly, it took another 25 years before non-tribal casinos got a stamp of approval to operate in this state.
Today, New York has roughly 24 brick-and-mortar casinos and is no stranger to all things gambling. One would think this will pave a smoother way for online casinos. However, that is not the case.
Luckily, the introduction of an online casino bill in February 2023 seems to get the wheels rolling in the right direction. This step includes lower taxes for online casinos, which is a significant factor in state-based competitive markets.
Bill A01380, which was tabled in January 2023, indirectly underpins the value of online casinos by spotlighting poker as a game of skill rather than chance. Should this motion be successful, very little can stand in the way of the legalization of online casinos.
Online gambling in New York
The Big Apple already broke ground when, in January 2022, the New York State Gaming Commission approved online sportsbooks. This fledgling market is flourishing and added more than $700 million to taxes in its first year of existence.
However, a real-money New York online casino has not yet surfaced. But interested parties are holding their breath that online casinos in this state will soon see the light.
Those with their fingers on the pulse of online gambling believe that a New York online casino market will have a big effect on the overall US gambling industry. As things stand now, a bill calling for online casino applications by July is in the works with the senate committee.
Players can look forward to comprehensive gaming libraries that include slots, table games, poker rooms, and live dealer installments when online casinos break through the administrative red tape.
How internet sports betting paves the way for online casinos
As mentioned, online sportsbooks in New York already made a huge splash since entering the virtual sphere in 2022. Sports betting gains legal grounds easier than other gambling formats since the stated court ruling in 1992.
One should keep in mind that this ruling predated the first online sports betting sites by approximately four years. This made stepping over the land-based threshold into virtual betting shops much easier.
Since sports betting hit the ground running in New York, it is only natural that people are open to and excited about the prospects of online casinos. Undoubtedly, operators and officials alike measure the successes of this branch of gambling in the Big Apple’s neighbors such as New Jersey and Pennsylvania. Trends indicate that once the first New York online casino is active, others will follow rapidly to get a share of a profitable market.
How to gamble online in New York
New York is home to many social casinos where players can enjoy slots, bingos, and various table games. A sweepstakes casino is legal and, for those who just want some gambling fun, free.
Like online casinos, these social gambling enterprises offer great sign-up bonuses for new players. For example, Luckyland Slots give players 10 sweeps coins just for signing up and another 10 when making a first purchase.
Other lucrative bonuses include free sweep coins to the value of $12 from Fortune Coins and 200,000 gold coins for only $20 from Global Poker. Players use sweeps coins to enter real-prize competitions, which include cash rewards, gift cards, and other attractive benefits.
The online gambling scene in New York is churning with expectation and promises to be a booming market once real-money online casinos are approved. Until that day, sweepstakes casinos offer just as much fun and thrills.