The United States of America is usually associated, among other things, with absolute individual freedom. After all, it’s not for no reason that America is nicknamed ‘The land of the free and the home of the brave’.
Yet, the United States is not always the pioneer of liberty is appears. One way in which the nation appears to be behind many in the world is in gambling legislation, which in many cases is extremely outdated and moralistic.
In the US, online gambling is only legal in the states of Delaware, Iowa, Pennsylvania, New Jersey and Nevada. Yes, even progressive places like California and New York continue to outlaw online gambling!
In recent times, New York, in particular, has been making noises around the relaxation of gambling laws throughout the state. After all, the gambling industry in the States is said to be worth around $160 billion per year, with a good chunk of this occurring in New York.
So, where does it all come from? Well, illegal gambling is a multibillion-dollar business in the state of New York and many senior figures are calling for total legalization in order to tax the industry as well as safeguard against organized criminal activity.
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In this article, we will take a look at how New York’s economy will boost with online gambling legalization.
What is the current situation around gambling in New York?
Across the US, the federal wire act prohibits most forms of betting. However, in 2018, the Supreme Court overruled a 1992 decision that essentially made sports betting illegal.
This has been seen as a watershed moment by many, with hopes that laws on both the federal and state level will now begin to wind down. After all, sports betting using illegal bookies in the US is thought to be worth around $150 billion per year. What’s more, some online casinos payout enormous sums too, and you can visit top review sites to learn more about the best paying online casinos.
In regards to New York and the legalization of online gambling, there has been plenty of talk from senators and other political figures around the issue but, as of yet, no concrete action.
How does online gambling legalization in New York look going forward?
Hopefully, 2020 will usher in some serious change in terms of the legalization of online gambling in New York state.
If this does take place, then the economic impact on both New York City and the wider, less affluent New York state area could be enormous. Within months of any decision, new online gambling companies would surely begin to set up shop in New York and the surrounding areas, bringing millions of dollars in tax and revenue to the region.
On top of this, if New York can become a haven for online gambling in the US, then the sheer number of jobs that could be created as a result would have a massively positive impact on the local economy. Indeed, it is common knowledge that New York City is already the capital of illegal sports betting in the US, so why not be a hub for legal online gambling, too?