Online slot gambling has been slower to gain traction than other forms of gambling such as poker and digital card games. This is mostly due to centuries of gambling aversion in the US. In addition, when you gamble in a casino loved ones can easily notice your behavior, but when you play slots on a computer or mobile phone it is much harder for them to detect. This is why some lawmakers have been hesitant to endorse this type of gambling.
Ultimately though, New York legislators have seen that it is not only viable but can also help boost state coffers. This will likely push them to further explore the potential of iGaming in the state.
One of the reasons why states have been so slow to legalize iGaming has been the Federal Wire Act of 1961. The act prohibits payments made in connection with online gambling but does not prevent states from regulating these games themselves. In fact, it has allowed for states to form interstate gambling compacts that can pool players across state lines. However, this is not a foolproof way to stop money laundering in the gambling industry and the US Department of Justice has been fighting against these types of efforts.
In the wake of the success of sports betting and other forms of iGaming, New York lawmakers have started to see that iGaming has huge potential in the state. This is largely due to the high level of tourism that New York attracts. This means that people who travel to the city from all over the country, and even from abroad, can benefit from the availability of online casinos.
Nevertheless, it seems like this is only the tip of the iceberg. New York’s legislature is preparing to pass legislation to legalize more forms of iGaming and it may not be long before the Big Apple has a robust iGaming market.
This is a great opportunity for New York’s gaming providers to expand their markets and reach new customers, as well as to take advantage of the lucrative demographics that are already visiting the state.
Currently, New York has two iGaming operators that are licensed to operate online casino games in the state. These are DraftKings and FanDuel, which both have partnerships with the state’s two tribal casinos. This allows them to offer both real money and practice play casino games to residents of the state. If New York does legalize iGaming in 2023, it is expected to be a very large market. For more information about New York iGaming, check out our New York gambling guide.