When will online casino gambling be legalized in NY?
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New York has always enjoyed a complex relationship with gambling. In the past, the state was home to a thriving underground casino industry.
NY mobile sports betting launched on January 8th of this year. Six sportsbook operators have already launched in the state. New York is going to take over from New Jersey as the industry leader. Sports betting operators will push for an iGaming launch in New Year's Eve. iGambling is a much bigger earner for companies with higher margins on table games than sports gambling.
There is no firm timeline on when New York will legalize online casinos. New Jersey legalized iGaming without a constitutional amendment. The state's current licensed mobile sports betting operators all have online casino operations in other states. Any proposed i gaming bill would require license holders to be tethered to a land-based casino. New Yorkers have a larger population than New Jersusans. Since it launched its online gambling industry, New jersy netted over $700 million in taxes. According to the NYS Gaming Commission’s monthly revenue report, in the three weeks of January that sportsbooks were live, taxes collected amounted to $63.1 million.
