Everybody knows it – New York is one of, if not the most recognisable cities on earth and it is always at the forefront of innovation and thinking.
However, one vocation that has never gripped New Yorkers by the bits is gambling.
The increased legislation around online gambling or punting of any kind for that matter in America has always kept a handbrake on any potential shift within the New York public towards betting more recreationally but there has always been a stigma with betting in the Big Apple.
Perhaps due to how much things cost anyway in the ‘city that never sleeps’, why would people potentially lose money? Or due to the fact that Las Vegas was and still is one of the great gambling hubs on the planet, why would New York look to take that on?
Regardless of the general reticence within society in New York to get on board with gambling as an activity, things have taken a slow shift in the opposite direction since 2018.
The decision by the US Government to give the decision surrounding gambling legality to each individual state was seen as landmark at the time and so it has proved.
Online gambling in New York as a state has boomed astronomically, with revenue passing 1 billion dollars monthly in New York state in 2022 and it is very much on an upward trend both in New York and nationally.
Whilst the online gambling industry has clearly had a direct impact on the amount of people now interested in gambling as an activity and the accessibility of sports betting and casino play has opened the industry to a whole new audience, there is a school of thought that there is scope in New York to develop the in-person betting options in the state.
Plans are currently afoot to develop 5 new casinos in New York state by 2025, all of which are being backed by big bookmakers in America such as DraftKings and FanDuel – representative of just how much the betting industry in the USA is taking off. At the same time, online casinos have been operating in neighboring New Jersey for several years, residents can play online including mobile apps, the state earns hundreds of billions of dollars every year in taxes, the nj.bet reported.
Locations such as Times Square and Citi Field are being mooted in New York as potential locations for these casino visionaries, that look set to change the gambling landscape in New York and USA immeasurably.
One of the key components of the current applications in the pipeline is that just to have an application potentially processed and considered, it will cost $1 million.
The fact that there are currently 5 casino applications under casino in New York, with more expected to be collated in 2023 is telling of how the gambling and casino is developing in New York currently.
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