Once again, a legislative session in New York has passed. And once again, a proposal from Sen. Joe Addabbo to legalize online casinos fell short of passage.
It feels inevitable that the Empire State will legalize NY online casinos. The looming question now is when.
While there’s no firm timetable in place for legal online casino gaming, bills like Addabbo’s are a step in the right direction. While the bill failed to pass, pushing iGaming legalization efforts to 2024, NY lawmakers continuing to hold conversations regarding the matter represents a positive for proponents like Addabbo and Assemb. Gary Pretlow.
Of course, bringing online casinos to New Yorkers isn’t something that will happen overnight. But it’s a worthwhile venture for the state considering how much tax revenue stands to be made. In 2022, for example, nearby New Jersey raked in nearly $250 million in taxes from online casinos.
But who would offer NY online casinos once the state legalizes the industry? From a bettor’s perspective, let’s explore which gaming operators will be the most popular options once online casinos open in New York:
Predicting the top dogs in NY’s online casino space
It’s unclear which gaming operators will offer online casinos if and when it’s legalized in New York. However, the last proposal from Addabbo, which could serve as the template for future efforts, detailed what the future might hold for NY online casinos.
Addabbo’s bill carved out online casino licenses for the state’s existing nine online sportsbooks. As such, we speculate which brands would get the most attention from New Yorkers.
Of the nine sportsbooks in New York, eight also offer iGaming in other states. That list includes:
- Bally Bet
The only sportsbook that doesn’t operate an online casino is Resorts WorldBet.
It’s a safe bet that some of those sportsbooks will apply for an iGaming license once it’s legalized in New York.
Caesars is fan favorite
Caesars Casino is one of the largest online casinos in the world. Sometimes, operators force you to create one account for the online casino portion of a site, and a second account to access sports betting. But not Caesars, and that’s a big reason why bettors love them. A single wallet with seamless navigation between online casino and sportsbook.
Caesars also has a rewards program for bettors that continuously use the site.
In Nov. 2022, Caesars was the fourth most-popular iGaming provider in New Jersey, earning over $8 million in revenue.
BetMGM offers an abundance of gaming options
BetMGM Casino is another titan in the online casino industry, frequently ranking as one of the best – if not the best – online casino around.
Like Caesars, you’ll only need one account to maneuver between sports betting and online casino at BetMGM.
Another thing that makes BetMGM popular is the 400+ casino games available to bettors, including more than 250 slots.
Can’t forget about NY sports betting leaders FanDuel, DraftKings
You can’t discuss legal online gambling expansion in New York without mentioning the state’s sports betting giants: FanDuel and DraftKings.
Yes, the rival companies began in similar ways, going from daily fantasy sports to legal sports betting and even into online casino gaming. Already as the top two NY sportsbooks, FanDuel and DraftKings would surely leap at the opportunity to integrate NY online casinos, which has proven to be a more profitable industry than sports betting.
Bally Bet is a dark horse
Bally’s Casino isn’t the most profitable iGaming operator in the US. It made $41.8 million in revenue in New Jersey last year, ranking seventh out eight online casinos in the state.
The likes of DraftKings and FanDuel are arguably more known for their sports betting and daily fantasy sports products in New Jersey. Given New Jersey’s close proximity to New York, word of mouth about Bally’s could spread to NY.
That may give Bally’s a massive boost if it lands an iGaming license in New York.
What would happen with PointsBet?
One of the more interesting storylines revolves around PointsBet.
The Australian-based company is looking to sell its US assets. Last month, Fanatics put in a $150 million offer, which could open up a lane for the company to enter the NY sports betting market. In turn, and if legalized under Addabbo’s latest bill proposal, it would also provide Fanatics an opportunity to get into online casino gaming.
Then last week, DraftKings sent along a $195 million offer to PointsBet. What exactly that would mean for NY sports betting remains to be seen. The PointsBet board expects to meet again at the end of June. Then, we could get a clearer picture of the company’s future.