Casino News

New York Sportsbooks Highlight the Benefit of Legal iGaming

It is time for New York to introduce legal iGaming, which is what the Sports Betting Alliance promotes in a new political campaign advertisement. The trade group consisting of DraftKings, FanDuel, BetMGM, and Fanatics, have launched a 30-second ad on TV and digital channels which highlights the economic benefits of launching online gambling in the Empire State.

The campaign arrives at a time when New York Sen. Joseph Addabbo reintroduced legislation to establish a legal framework for online casinos. Bill 856 would allow the state’s land-based commercial and tribal casinos, as well as retail sportsbooks and racinos, to partner with online gaming operators. This is not his first attempt to legalize the offering in the state.

Underlining the Potential Benefits

SBA’s spot begins by noting that NY is edging closer to dangerous deficits and that it is already dealing with an affordability crisis. It notes that life is already hard enough for people without raising taxes or cutting services and that there is a better way of dealing with the issue. It gives neighbouring states that have greenlit iGaming and produce billions in revenue as examples.

It states that allowing online casino games in the state, could decrease deficits and help families and schools. The ad continues by citing that iGaming generated US$6 billion in tax revenue in 2022 and currently digital gambling is legally offered in six states across the country. Those jurisdictions are New Jersey, Michigan, Pennsylvania, Connecticut, West Virginia, and Delaware.

Estimations suggest that the budget deficit could grow to US$8 billion by 2024, the coalition admits that iGaming will not be able to fill such a major gap, but says it could reduce it by up to US$1 billion annually. The alliance also promises that the iGaming introduction would provide union jobs, and ensure that local consumers have access to customer protections when gaming.

According to a recent poll by Parkside Group discovers that New Yorkers are also supportive of the online casino expansion in the state. It was discovered that around 51% of the surveyed are in favour of the legalization. Meanwhile, approximately 40% of the surveyed were not keen on the change. Also, 53% of the residents are keen on the introduction of Internet lottery sales.

More Land-Based Casinos are on the Way

The Empire State is also in the process of growing its brick-and-mortar gambling scene, as three commercial gaming licenses will be soon issued for the downstate region. There are plenty of candidates for the permits, but there has been some community opposition. For instance, a Coney Island bid was faced with skepticism and concerns by Brooklyn communities.

The downstate expansion could turn out to be problematic for the iGaming legalization, as has already stirred the pot across the state. It also remains to be seen whether Gov. Kathy Hochul would be willing to allow iCasino offerings in the state. Previously, the governor left possible iGaming income out of her budget plan for the new year.