New York Online Casino Legal Update
New York has one of the oldest state-run lotteries in the U.S. The state has also been welcoming to certain types of gambling, such as betting on horse races, for decades. However, the road for other games of chance has been somewhat more difficult.
Even daily fantasy sports ran into some roadblocks in New York. As physical casinos have grown over the last few years and sports’ betting was approved, most feel the next logical step is to allow online casinos. Let’s take a look at how that scenario might play out for New Yorkers.
New York Brick-and-Mortar Casino and Online Casino History
The road to legalize gambling in New York has taken many twists and turns. There have been legislative actions to approve certain types of gambling, such as sports betting, that were met with resistance from the governor’s office.
It seemed a foregone conclusion that once sports’ betting was approved, online sportsbooks would follow immediately. Most thought New York would be motivated by the experience of neighboring New Jersey with online sportsbooks, plus the ultimate factor, revenue.
It didn’t quite work out that way, but everyone perceives that New York’s lawmakers cannot turn their back on how viable online gambling options are. Ultimately, that is going to include online casino games.
New York passed the Indian Gaming Regulatory Act in 1988. It paved the way for three Native American Tribal casino operations to open seven brick-and-mortar casino locations.
To show how progress can be slow in New York, it was another 25 years before legislators opened the door for seven non-tribal casino facilities. There are now more than two dozen physical casino locations.
Well over half of those either carry a Tribal designation or are a Racino facility. There has been a collective push for the last decade and a half to allow online casino games. Some insist there should be an arm of existing casinos. Let’s look at some requirements ahead of New York’s potential launch of online casinos.
New York Online Casino Requirements and Restrictions
The New York Gaming Commission will write the regulations that govern New York’s pending online casino operations. Most agree that the requirements and restrictions will mirror those in place for physical brick-and-mortar locations.
The license fees and tax rates for online casinos should reflect similar legislation in place for sportsbooks. Many of the same companies approved as sportsbooks will attempt to add online casinos when New York gives the final okay.
Expect the age restriction to be 21 or over and be strictly enforced. Geolocation technology will be required as well. New York will also level of tax commitment from the online casino providers and players who win as with other games of chance including the New York Lottery.
Expected New York Online Casino Mobile Apps
There will be a number of online casino providers eager to enter New York’s potentially lucrative online casino market. It seems a foregone conclusion that the regulatory details will eventually happen. When New York does decide to launch online casino games, look for these four providers to become viable contenders immediately.
DraftKings Online Casino
Most New York sports fans are very familiar with DraftKings as a daily fantasy sports provider. Some may even remember the legal fight between the state of New York and the DFS leader.
DraftKings had an established customer base ready when the U.S. Supreme Court erased the federal ban on sports betting in 2018. They were able to become an immediate success with their sportsbook app.
This dedicated customer base will help develop a strong presence in New York’s online casino games. Like their daily fantasy sports and sportsbook platforms, the DraftKings casino app regularly receives excellent reviews.
DraftKings uses a trademark black background surrounding a white overlay listing each individual bet and line. The visual user-friendliness is average, with decent transitioning between pages.
DraftKings welcome bonus package isn’t the biggest in the online casino industry, but it still offers free money to players. New accounts get 50 percent matching deposit bonus money up to $200.
Players receive up to a $100 credit for a risk-free first game Blackjack. Special promo codes are available for a free $5 sportsbook bet when you play a $20 game of Blackjack. The DraftKings casino app offers a way to get $1,000 worth of free bets on the sportsbook playing eligible slot games as well.
FanDuel Online Casino
FanDuel has been one of the most successful platforms for daily fantasy sports games. They used a massive customer base and a strong reputation into a successful sports betting app as well. Now, FanDuel is ready to have an impact with their online casino.
FanDuel’s July 2018 partnership with London-based betting icon Paddy Power Betfair created the FanDuel Group. The creation of the FanDuel Group merged Betfair’s U.S. operations.
It provided FanDuel with a strong foundation to step into the online casino industry. Like DraftKings, FanDuel was part of the legal fight a few years back with New York over the legality of daily fantasy sports contests.
However, FanDuel won’t need to fight for a spot on the list when New York chooses to launch online casino games. FanDuel’s online casino will be set to welcome new casino players to add to their millions of sportsbook and DFS players.
Currently, the FanDuel online casino set up doesn’t show a bonus code requirement. New FanDuel online casino registrations can secure a possible $200 risk-free first bet. The only requirements are to have an account and make an initial deposit of at least $10.
At the moment, there aren’t any listed bonus offers from FanDuel’s online casino. Nevertheless, don’t be surprised if additional offers aren’t posted as the New York online casino date is announced.
Betfair Online Casino
Betfair has a solid worldwide reputation for betting and online casino games. Once New York completes the necessary legal work to regulate the online casino business, Betfair is a logical contender for a license.
There will undoubtedly be an appealing welcome offer extended to all new accounts in New York. Betfair’s online casino offers begin with $10 just for signing up for a free account. Then, the amount of deposit bonus money explodes.
Betfair’s welcome package tendency is to double your first deposit up to as much as $2,500. Yes, that $2,500, not $250. It is one of the largest deposit matches in the online casino and sportsbook industry.
The Betfair online casino will also pay $10 in free game money for each friend you refer. These enticing welcome offers support one of the most extensive online casino game boards available. Get ready to enjoy over 300 casino-type games with Betfair.
Caesars Online Casino
Our next choice for an online casino app who appears to be a leading candidate for a New York online casino launch is Caesars. Caesars online casino is a clear industry leader.
They have hundreds of casino-style online games. Caesars is also one of the most established casino names in the industry. They have developed an outstanding online casino record.
There is a huge selection of games. Caesars has over 400 slots, 10 Blackjack games, plus 21 individual poker-style games. Caesars offers virtual sports betting games as well. Caesar’s values their dedicated players and shows their dedication with an excellent loyalty program.
You can make transfers of account balances and winnings to any of the 40 physical casino locations. New York Caesar’s accounts are in line for a number of bonuses as well.
You’ll get $10 just for registering. After making your initial deposit, Caesars will match that deposit 100 percent up to $300. Caesar’s also has $2,500 Bonus Play Giveaway bonus each week for online casino players.
The Economic Effect of Casino Gambling in NY
Table gaming revenue from New York’s brick-and-mortar casinos has been in the millions. The revenue from sportsbook licenses has also provided a lucrative supplement to the state budget. New York is a state with financial difficulties.
The expectations for online casino success are extremely high. Logically, the first impact, and maybe the most important one, will be on New York’s financial woes. New York, especially New York City, is a tourist Mecca.
Expect the idea of having access to online casino games to even further boost profits from the tourism industry in New York.
Jobs, Taxes, and Revenue
Because of the sought after service it is, sports gambling brings bubbling economic potential to any state that legalizes it. Obviously, financial estimates vary depending on the source, but one estimate goes as far as to say that New York could be the beneficiary of anywhere from $170.4 million to $591.3 in yearly total fiscal impact. Additionally, anywhere from 3,200 to 12,000 jobs could be realized. Officials hope that a stable legal gambling experience will also contribute to filtering out much of the illicit gambling going on in the state which has by popular consensus, been documented to be occurring at the highest rate in the nation. While the aforementioned numbers are impressive, they frankly shouldn’t be too surprising considering that even gambling critics have acknowledged that the billion dollar business would have massive economic ramifications, especially in a state like New York. Despite the clouds of optimism, there are certainly still economic controversies at hand; for instance, New York casinos have cut into the earnings of varying competitors in the region such as the racinos. Moreover, states should carefully consider the implications of taxing the casinos at higher rates in hopes of maximizing their own revenue. Here, the logic follows as suit: the higher the tax, the less operators.
The domino effect sports gambling has on the states’ economy stretches much further than some revenue loss for your average racino. Horserace betting long a gambling stable due to the illicit nature of virtually every other form of sports wagering has recently seen a sharp decline in its activity in the state. As a matter of fact, between 2010 and 2014, the New York Racing Association lost some $109 million on racing operations. With sports gambling swiftly gaining steam in New York this year, horse race operators fear the trend may be bound to continue: and at an even higher rate.
A Glimpse at the Future
Minor Issues, Major Implications
While the sheer momentum sports gambling has gained in the past year may be too hard of a force to withstand, the future of the industry in the state is still murky. Notwithstanding the possibility of a limited sports betting bill getting passed by the end of the calendar year, it is more likely that a comprehensive bill would have to be passed in 2019. The feasibility of passing a limited bill this year rests on the issue of whether the provisions included could be legally justified through the 2013 legal ruling. It is more likely however that because a bill would likely want to address such things as tribal casinos and mobile apps (dealing with these things under the 2013 law may prove to be difficult), New York residents may have to wait one more year when lawmakers can work to amend the current constitution. While lawmakers may be tempted to hastily pass a bill and capitalize on the current frenzy surrounding the business, in the end, it would be shortsighted considering the staying power of the industry and the raging influence online mobile betting carries. Cliches can ring hollow more often than not but in this case, it holds true: patience is a virtue.
Age is Not Just a Number
Across the country, the legal gambling age varies between 18 and 21. In the case of the Big Apple, the minimum age requirement is 18. This requirement applies to both online and casino gambling. Teenagers certainly have a keen interest in sports, and this curtailed age requirement should only help get more people in the casinos. Nevertheless, all signs point to it being only a matter of time before the New York populace can enjoy seemly strolls down to their local casino.