Is 2024 the year for iCasino regulation in New York?

[The Buzz]

While the path to legalizing online casinos in New York has seen its fair share of obstacles, the winds of change are blowing, and 2024 appears poised to revolutionize online gaming in the Empire State, according to Senator Joseph Addabbo Jr., who has been advocating for internet gambling legislation in Albany for several years. His bill to legalize New York online casinos faced opposition within his own committee during the recent legislative session, which ended in June. Assemblyman Gary Pretlow’s similar Assembly version also failed.

From SI Live:

Senator Addabbo plans to make NY Online Casinos a reality in 2024, despite setbacks. He wants internet lottery legislation to be voted on in Albany next year.
Addabbo stated, “Going forward, this is something I think the state should consider. If you combine iLottery with iGaming, (we are) sitting on top of a billion dollars in revenue.”

New Jersey, Pennsylvania, and Michigan currently rank as the top three in the US Online Casino market. All three states collectively generated over $1 billion in revenue last year, with monthly revenue in 2023 surpassing $100 million in each.

New York has nearly 20 million residents according to recent US Census data. Michigan and New Jersey have a lower combined population than New York. Pennsylvania is the fifth-most populous state, behind New York.

Senator Addabbo views online casino legalization as the “next logical step,” with tax revenue earmarked for vital areas like education, transportation, senior care, veterans’ assistance, social services, and public health. However, a significant hurdle remains in educating and persuading fellow politicians. Opposition stems from concerns about addiction, job displacement, and impact on traditional establishments, requiring more comprehensive explanations.

As lawmakers convene in the fall, Senator Addabbo is determined to persevere. He plans to leverage the success of mobile sports betting, engage industry experts, study experiences from other states, and gain momentum for budget discussions next year. The offseason will be dedicated to ensuring every aspect of the proposal is thoroughly addressed, creating a promising path for New York’s online casino future.

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