Four of the heaviest hitters in legal sports betting have backed further online gambling expansion in New York.
As the newest legislative session gets underway, the likes of DraftKings, Fanatics, FanDuel and MGM – each part of the Sports Betting Alliance trade group – have banded together to show their support for and urge the legalization of online casinos in New York.
“New York faces dangerous deficits and there’s an affordability crisis across the state,” the voiceover states in the advertisement, emphasizing how the Empire State can create “billions in taxable revenue” without raising taxes and cutting services.
Ad supporting NY online casinos highlights potential revenue for state
Founded in 2021, the Sports Betting Alliance put out the NY online casino support ad on television and digital channels, citing the $6 billion in taxable revenue boasted by states that feature legal online casinos. That includes nearby New Jersey and Pennsylvania.
For years, Sen. Joe Addabbo has pointed to jurisdictions such as these. By not legalizing online casinos, New York effectively has its pockets picked by these other jurisdictions.
Two months ago, Addabbo reflected on New Jersey first legalizing online casinos in 2013, noting his concern at the time, “as we always are, when neighboring states do something that we don’t do.
“It usually means a loss of money or a loss of jobs or a missed opportunity. And I hate missing a golden opportunity.”
Later, Addabbo told PlayNY that it only “makes such prudent sense” to legalize online casinos in NY because “New Yorkers are already doing it.”
“You don’t have to recreate the wheel,” Addabbo said. “They’re going to New Jersey, they’re going to other states, they’re doing it illegally, they’re doing it already. If you want to help a New Yorker that has this addiction with doing iGaming, you can’t help them at all right now because you don’t know who they are.”
By Addabbo’s estimation, which stems from analysts he’s spoken with, New York loses “about a billion dollars a year” to neighboring states with legal online casinos. That tells him, he shared with PlayNY, that the Empire State is “standing on AT LEAST a billion dollars” with legal New York online casinos.
Dawn of legislative session to bring new online casino legalization efforts
This has been a battle Addabbo and his Assembly colleague Gary Pretlow have fought for years. Their most recent efforts, in 2022 and 2023, saw bill proposals never make it out of committee. But neither of the lawmakers have given up hope. And Addabbo told PlayNY that he intends to file a new legislative proposal soon.
However, 2024 feels different. In fact, 2024 may go down as the year NY online casino legalization finally crosses the finish line.
The state faces a $4.3 billion budget deficit. Gov. Kathy Hochul stands firm that she will not raise taxes to help New York cut into that hole. Cutting programs, Addabbo said, will only do so much.
Legalizing online casinos in New York would certainly provide a financial boon for the Empire State. Especially when you consider the foundation it sits on: a record-setting online sports betting industry that has generated over $1.5 billion in state tax revenue in two years of existence.
As the Sports Betting Alliance ad spot says:
“By letting people play casino games online, we can decrease deficits and help our families and schools. Let’s bring iGaming to New York.”