The state of New York continues to profit massively from online sports betting. Here’s why you should expect even more upticks in profit.
Let’s Make Gambling Easy
New York is continuing to set a great example for other states. New York has gone from simply legalizing sports betting in its state to improving accessibility for bettors in its state to the top sportsbooks. While sports betting became legal in New York in July of 2019, online sports betting is still a recent phenomenon.
The online availability of sports betting is huge for sake of convenience. Bettors will be more likely to place a wager when they don’t have to leave their homes in order to do so. They no longer have to visit upstate casinos where sports betting in the state had previously been reserved.
As a result of the improved convenience offered by the online betting option, New Yorkers wagered close to two billion dollars within the first 30 days of the launch of online betting. This theme — of being more likely to place bets when one doesn’t have to move far — is one that New York politicians thankfully recognize and that New Yorkers certainly appreciate.
This improvement in convenience ultimately favors sportsbooks like Caesars Sportsbook that are legal to access in New York and that promise to gain more revenue.
Sports Betting Kiosks
The big new idea that will further improve the state of sports betting in New York is sports betting kiosks in professional stadiums. New Yorkers would be able to access their favorite legal online sportsbooks when they are at a professional stadium.
This accessibility is huge because many sports bettors are also sports fans and sports fans buy tickets to be spectators in stadiums. Also, many sports bettors and sports fans will want to bet on their favorite teams especially when they are watching that team.
They find it more entertaining to watch a game and support their team when they can have money riding on that team. Millions of fans visit Yankee Stadium where the Yankees play as well as Citi Field where the Mets play.
Hundreds of thousands of New Yorkers also go to see their New York Knicks, New York Rangers, and Brooklyn Nets in person. It looks very likely that they’ll get to place bets when watching their favorite sports teams play because the Senate Racing, Gaming, and Wagering Committee passed the necessary legislation by a unanimous 7-0 vote.
The relevant bill has now progressed to the Senate Finance Committee where it requires a majority vote in its favor. This is all exceedingly promising for sportsbooks and bettors based in New York as well as the state itself.