You would think New York would be massive for sports betting – but it isn’t the state that comes at the top of the list. It wasn’t until June 2019 that the New York State Gaming Commission approved regulations allowing in-person gambling at four casinos in upstate New York.
So if it’s not necessarily widely accepted, how does the legislation work in New York? Read on to find out.
The Legal Landscape of Sports Betting in NY
First came the 2018 Supreme Court decision that ended the federal ban on sports wagering, coming into force in June 2019.
New York had preemptively passed a law in 2013 that would allow bets at four upstate casinos if the federal law changed, so they were somewhat ahead of the game. But what was the catch? The initial law didn’t include mobile or online. That only really changed in 2021 when the state finally accepted digital gambling, and now there are tons of New York sports betting sites.
So, New York now allows it at several licensed locations and online, but it’s regulated tightly. Every operator, from brick-and-mortar casinos to online platforms, must jump through a series of regulatory hoops to get the green light.
Understanding Licensing and Regulation
New York has its commitments. What it wants from its betting industry is cleanliness, transparency, and responsibility – but it is long and complicated. The New York State Gaming Commission requires that casinos register with it and then ask politely for a license from the New York City Department of Consumer Affairs.
Of course, they don’t just hand them out. Not all applicants come away able to operate. It’s a rigorous process of standards and compliance.
The scrutiny process is substantial. There are fees and in-depth background checks to kick things off, and then there are assessments for financial stability, character, and the integrity of the casino’s operations.
The New York State Gaming Commission’s standards highlight the importance of promoting responsible gambling. Each operator must implement those necessary measures. These include self-exclusion programs, limits on activities, and mandatory training for staff to identify and intervene. It’s the same in the UK.
The Impact on Local Communities and Economy
Like most other places around the world, the sports betting legislation has brought in taxes – celebrities aren’t shy to place big bets on high-profile sporting events – for the local economy as well as bolstering the efforts of local communities to keep their social character healthy.
The tax revenue gets funneled back into various state projects and public services. It goes to good efforts. The money is essential for infrastructural improvements, educational programs, and other community-led initiatives.
The sector helps stimulate local economies by creating all kinds of unique jobs and attracting tourists who want to come to the Big Apple and experience the casinos and sports betting activities on offer. You can’t overlook the impact it has on the micro level and the day-to-day lives of residents.
The Future of Sports Betting in NY
Trust is the key to sports betting in New York. Think of any industry that doesn’t rely on it: none. But, here, it’s essential, especially as a blossoming industry. Operators need to be reliable and ensure player safety and security.
Further refinements to the legislation are bound to come and happen. It’s not an industry that can or should stand still. Things change. Legislation changes.
For betters, staying up to date with these developments is essential. Sometimes they change who can bet and where they can do it. But it’s more likely the casinos that need to stay more up to do.
By staying informed and engaged with the ongoing regulation changes around laws and practices, players, and casinos can contribute to a more transparent, accountable, and enjoyable environment in New York.
If you play online casinos or use sports betting websites in New York, you’ll realize they’re no different from any others. But, some incredible sporting events in New York make the activity exciting. Who would be your favorite New York team to place a bet on in 2024?
