Lawmakers Look to NY Mobile Casino Gaming to Improve Revenue

Lawmakers Look to NY Mobile Casino Gaming to Improve Revenue

Last updated on November 4th, 2023 at 04:50 pm

Lawmakers want to amend legislation that will legalize NY mobile casino gaming. State officials said the move could bring more than $1 billion in revenue. Also, it can solve the state’s budget deficits for the next couple of years.

According to pay per head bookie reports, the Legislature took its time to modify the legislation to enable mobile sports betting. The state launched mobile sports wagering in January 2022 and has dramatically influenced state income subsequently.

The state earned $729 million from mobile sports wagering receipts in Fiscal Year 2022-23. This is according to the mid-year financial report by the state Budget Division. Since last year, the industry has more than doubled.

Legalizing iGaming could bring mobile blackjack, roulette, and other casino games to the state.

Legalization of NY Mobile Casino Gaming

Lawmakers Look to NY Mobile Casino Gaming to Improve RevenuePennsylvania, New Jersey, and Connecticut are just three of seven additional U.S. states that have legalized online gambling. Joe Addabbo, the chair of the NY Senate’s Gaming Committee, supports mobile sports betting.

Addabbo wants Gov. Hochul to consider this for the budget and increase tax revenue.

According to pay per head sportsbook reports, the senator claims that the plan’s proposed 30.5% tax on online casinos may bring in one billion dollars in revenue in the first year alone. Bischell argues that state legislation should permit casino competition to provide customers with options and include a tax rate to stimulate future expansion.

Despite the plan to allow iGaming, some casinos declined to be interviewed. According to sportsbook pay per head experts, the idea might help traditional casinos grow by enabling them to provide more types of gambling.

The senator noted that the three proposed casinos in the state’s downstate districts would not be affected by the legalization of mobile casino gambling.

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