Unfortunately, New York online casinos won’t be legalized until 2024 at the earliest. Sen. Joe Addabbo has been the largest proponent of bringing it to the Empire State and he believes it’s a matter of when online casinos become accessible, not if.
Because online casino betting still can’t be done through licensed NY sportsbooks, there are a lot of misconceptions about what exactly it encapsulates. Even the most experienced bettors can have a hard time providing an exact definition for online casino gaming.
So we’re going to dive a bit deeper into what exactly NY online casinos will entail once legalized.
What are online casinos?
We’ll start by eliminating what many people think online casino gaming is. Any sports bet placed on the Yankees or Mets isn’t considered internet casino gaming. That would fall under the umbrella of iGaming, or “internet gaming,” which is a broad term used to define both sports betting and online casinos.
While many brick-and-mortar casinos also house sportsbooks, any sports wagering isn’t tied to online casino gaming.
Online casinos in NY would strictly pertain to playing casino games virtually via the internet. Some popular game types associated with online casinos include, but are not limited to:
Once NY online casinos go live, bettors will be able to capture the feeling of sitting in a brick and mortar casino from the comfort of their homes, or anywhere else they wish to play.
Will NY online casinos be as profitable as sports betting?
The state of New York stands to gain even more revenue from online casinos than it currently makes from sports betting. Light & Wonder global head of affairs Howard Glaser said it best when he spoke to the Senate Standing Committee on Racing, Gaming and Wagering.
“The states with iGaming have found that sports betting is the appetizer but iGaming is the main course, as far as revenue generation is concerned.”
In that comment, Glaser was referring to online casinos when saying iGaming is the main course. Many people still use the terms interchangeably.
For example, let’s review the February revenue numbers from online casinos vs. sports betting in neighboring states that have legalized both:
- New Jersey online casinos/sports betting: $142,592,966/$54,621,220
- Pennsylvania online casinos/sports betting: $162,310,430/$62,214,502
It’s important to note that February is a popular time for sports betting thanks to the Super Bowl. Next to March Madness, it’s one of the most wagered on events of the year.
Despite that, New Jersey and Pennsylvania’s online casino revenue far surpassed the sports betting figures. When NY online casino gaming is finally legalized, hopefully in 2024, that same trend should take place in the Empire State.
Make sure you bet with licensed gaming operators
Down the road when online casinos are eventually legalized in New York, it will be important to make sure you sign up with licensed gaming operators. There are many offshore sportsbooks that look similar to regulated NY sportsbooks, but are actually quite different. The same goes for online casinos.
Offshore operations aren’t based in the United States, therefore they aren’t regulated. This can result in a player’s betting balance being wiped out, while licensed sportsbooks and online casinos offer protection from regulating bodies like the New York State Gaming Commission.
Luckily, there are some easy ways to decipher between licensed operators and offshore sites. One is by searching for a logo that says RG; if you see that, it stands for responsible gaming and is a sign you’re on a legal platform.
Another thing to check is the URL of the site you’re on. If it ends in .com, you’re looking at a regulated operation. Offshore sportsbooks and online casinos have URLs ending in things like .ag, .lv or .eu. Those symbolize the country the site operates out of.
Lastly, if a platform allows you to deposit cryptocurrency, then you’re likely on an offshore site. Licensed operators only accept real-money deposits.
