A recent study has suggested that the introduction of igaming in New York could generate billions of dollars in revenue across the next few years – with up to $18 billion in profits projected over the next four years.
The study named ‘The Potential Economic Impact of Legalising iGaming on Casino Revenues in Five States’ was created to evaluate the future economic impact of online and mobile gaming across five different states.
It isn’t just New York that the study focuses on, with positive economic growth expected to be seen across all five states in the study which also includes Illinois, Louisiana, Maryland and Virginia.
Potential Growth Within State
Projections based on a four year period.
- New York: $18 billion
- Illinois: $9.2 billion
- Louisiana: $3.9 billion
- Maryland: $5.5 billion
- Virginia: $5.3 billion
The projections from above are based on the current states that have legalized igaming within their borders – with igaming currently legal in six other US states.
Future projections aren’t just based on other states however, with sports betting data and consumer behavior analysis also taken into account to understand how igaming is currently used in relation to in-person casinos in the US.
Sports betting is becoming legal in more and more states across the United States, as a wave of betting regulations slows in 2024 and the government looks to instead further progress igaming rollouts across the nation.
Different studies have been conducted over the past year across America to make sure igaming rollouts don’t interfere with the profitability of land-based casinos – but no detrimental impact was found to one side’s profits due to the other opening within a state.
Although most states’ gaming profits were not affected by the regulation of igaming, New Jersey did notice Atlantic City’s casinos were less profitable last year due to the record profits from igaming revenue.
New York lawmakers Senator Joseph Addabbo and Assemblyman J. Gary Pretlow continue to push for the regulation of igaming within their state – but once again online casino gaming was given no place in the Governors most recent budget.
Check out Instant Withdrawal Casinos for the latest study on New York iGaming revenue potential.
