New York mobile sports betting is delivering like a boss. The state’s online sportsbooks exceeded $10.6 billion in total handle during their first eight months of operation starting in January. That is nearly $1 billion more than rival New Jersey reported in mobile handle for all of 2021.
Keep in mind that New Jersey has 21 mobile sportsbooks. New York has nine.
It’s that kind of prowess that gives New York State Senator and Senate Racing, Gaming and Wagering chair Joe Addabbo Jr , D-Queens, a lot of confidence in the growth potential of New York online gaming — this time in the online casino arena.
On Tuesday, Addabbo told NY Sports Day he plans to work with fellow lawmakers and Gov. Kathy Hochul in 2023 to ramp up online betting options, with an emphasis on NY online casinos . That could mean more mobile choices by 2024, if not before.
“The potential for revenue under iGaming is far greater than that of mobile sports betting,” Addabbo said, acknowledging online casino revenue tends to outpace mobile sports betting revenue by more than 2 to 1, per some estimates. “I’d love to have that conversation about having iGaming put in the executive budget or part of the budget process early next year.” Addabbo: Downstate Casino Licensing Took Precedence This Year
The Senate gaming chair sponsored online casino legislation in 2022 but backed off as budget talks turned to the licensing of three downstate commercial casinos authorized under existing law.
The three downstate casinos are among seven commercial casinos allowed under the state constitution. The remaining four casinos are located upstate and have been up and running for years. Those four casinos are home to New York’s mobile sports betting servers, which average about $1 billion in handle each month among the state’s nine licensed mobile sportsbook operators.
Once a brick-and-mortar casino is licensed — hopefully by the first quarter of 2023, Addabbo said — the casino can get construction out of the way and set an opening date. That date is most likely to be in 2024 but could come earlier depending on the licensee, according […]
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