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Gambling is not a new thing. People have been engaging in this activity since time immemorial. However, the perception of people towards it varies from one place to another around the globe today.
Those who support gambling say that it is a fun activity that enables them to win big. The opposing voices are those who associate it with immorality and addiction. Whatever school of thought you subscribe to; the bottom line is that it is something that is not going away any time soon.
In the United States, online gambling attracts different reactions from those concerned. For instance, some states have legalized the activity. Examples include Las Vegas and New Jersey.
When you go to New York, you notice that it is a state that is not vibrant when it comes to the issue of gambling. The state has laws that are severe when it comes to gambling. However, there are recent changes that show that the country is ready to legalize gambling.
The first Casino in New York was established in the year 2003. More have been commissioned since then. This shows that New Yorkers are on the path towards embracing the idea of online gambling.
What should online gambling enthusiasts do in the meantime? Consider using the online website that allows non-residents to play. For example, there are companies established in New Jersey which allow people who are not residents of the state to play provided they are physically in New Jersey.
What Efforts Is New York Making to Legalize Gambling?
New York is a state that has always been known to be tough when it comes to matters of gambling. However, no legislation makes gambling illegal. However, no one is allowed to establish or operate a casino in this state.
Many online casinos operate in states that neighbor New York. They allow those living in New York to play. If you are interested, you should not worry about playing as there is nothing illegal in that.
What is the advantage of playing through these companies? They offer many games to the interested New York players. For instance, both poker lovers and Sports Betting enthusiasts are catered for by these companies.
There are still more casinos coming up. That means that you may never run out of options if you love online gambling and live in New York. Apart from playing with real money, online companies give free trial chances and offer bonuses to clients.
With much money in the gambling industry, it is a surprise that New York has not legalized gambling yet. On the other hand, places like Pennsylvania have relaxed their online gambling rules. New York should follow suit.
The journey towards legalization of online gambling began in 2018 when the United States Supreme court made a ruling that there is no point in making sports betting illegal. The first legal sports bet was placed in 2019. The debates on the full legalization are to take place in 2020.
What is causing the enthusiasm to legalize online gambling in New York? Here are the reasons:
The Need to Increase Its Gambling Revenues
New York has a huge potential in revenue generation when it comes to online gambling. Its efforts are meant to put it among the states that generate huge revenues through their gambling activities. New York may lose out if it does not legalize this activity fast.
New Jersey makes a lot of money annually in the form of revenue through its Bovada online gambling website and other platforms. In 2019 alone, NJ $285 million-plus in revenue. That means they are a big contributor to the revenue of the state.
According to New York Up, New York lags behind in sports betting revenues. The state only made $3.5 million from gambling in October 2019, and this means it is way below other states that made huge kills here. Some examples of states that made huge earnings in the same period include:
· Nevada that made more than $400 million
· Mississippi made $40 million
· Delaware made $19.1 million
· Rhode Island made $11 million
According to The New York State Senate, in the bill proposed by Sen. Joseph Addabbo, the state intends to make sports betting through mobile phone legal. This move is believed to be able to inject vibrancy into the industry and put New York among the states that make much money from online gambling.
Divert the Money Going to Other States
Just because online gambling is illegal does not mean that people do not place bets. Instead, the gamble in the states where the activity is legal. This means that New York is losing money that is supposed to make up its revenue.
The legislation is aimed at ensuring that the residents are free to gamble in New York. With that, the state can now get more money than it has been generating over the years because of not legalizing online gambling.
Provision of Employment Opportunities to Residents
Gambling provides employment to many people. For instance, many people in New Jersey are employed by the gambling companies as operators. These are things that New York is missing.
Employment in the online gambling industry has many benefits. By legalizing online gambling, state legislators believe that casinos can employ people in positions such as software developers, security experts, and customer service representatives.
Online Gambling Increases Retail Demand
The winnings that people get from gambling are used to purchase the commodities that are produced within the economy. This means that the aggregate demand increases improving the economy in the process.
Making Gambling Secure for Participants
According to the New York Post, New York ranks 12th in the nation for arrests made regarding illegal gambling. People tend to go to companies that establish illegal websites and the problem is that they are duped on such platforms. That is not good for the residents.
With the legalization, the legislatures believe that the residents can identify approved companies in the industry. Therefore, they can make informed gambling decisions.
The Bottom Line
The efforts made by the NY legislators as far as online gambling is concerned cannot be underestimated. The intention is to reap the benefits of online gambling.
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