A political campaign advertisement promoting the economic benefits that legal iGaming would bring New York has been deployed in the Empire State.
A 30-second advertisement airing on television and digital channels says it’s time New York lawmakers bet on regulated online casino gaming. The spot is bankrolled by the Sports Betting Alliance (SBA), a trade group consisting of DraftKings, FanDuel, BetMGM, and Fanatics.
“By letting people play casino games online, we can decrease deficits and help our families and schools. Let’s bring iGaming to New York.”
The political ad cites states with legal iGaming that generated $6 billion in taxable revenue in 2022. Today, six states allow people of legal gambling age physically located within their jurisdictions to gamble online. They are New Jersey, Michigan, Pennsylvania, Connecticut, West Virginia, and Delaware.
$1B Annual Windfall
The SBA’s political iGaming campaign launch coincides with New York Sen. Joseph Addabbo (D-Queens) last week reintroducing legislation to establish a legal framework for online casinos to operate in the state.
New York Comptroller Thomas DiNapoli expects the state’s budget shortfall to grow to $8 billion by next year. Though online casinos wouldn’t bridge such a major funding gap, the SBA says iGaming could reduce the deficit by up to $1 billion annually.
Sports betting — specifically online sports betting — has been a riveting success in New York. From April 2023 through December, New York online sportsbooks won nearly $1.3 billion from remote bettors. That’s resulted in over $647.3 million in tax revenue dedicated to state education.
Gaming Opposition
Addabbo and his colleague, Assemblyman Gary Pretlow (D-Mount Vernon), have been trying to pass iGaming legislation for years. They’re hopeful 2024 is the year an online casino bill finally gets across the finish line. But this session presents additional concerns.
Rallying support for even more gaming by way of iGaming might be a tall task for Addabbo and Pretlow. It’s also unclear if Gov. Kathy Hochul (D) would sign such a statute. The governor hasn’t included possible iGaming income in her recent budget.
