New York gambling study: state loses $400 million annually

New York gambling

According to a current study from the USA, the US state of New York could take in around USD 400 million more from gambling each year. The prerequisite for this would be the legalization of online casino games such as roulette and blackjack.

The report on potential online gambling revenues was commissioned by Las Vegas-based gambling company Light and Wonder and prepared by VIXIO Gambling Compliance, who reported about online casino bonuses in India. It examines the revenue that could be expected from online gambling in those U.S. states where mobile sports betting or terrestrial casinos are already legal.

The report's estimates are based on the potential supply of virtual casino games. The analysts had assumed online casino table games such as blackjack and roulette as well as virtual slot machines. Online sports betting and the tax revenue it could generate were not included in the calculations.

Online gambling operators in New York lose $2 billion in revenue

According to the study, online gambling operators in New York State alone could lose revenue of around USD 2.1 billion. The state would lose tax revenue of around USD 428 million.

The analysts also estimate the potential online gambling revenues for New Jersey to be particularly high. Here, operators could lose up to USD 1.8 billion and the budget around USD 308 million in taxes.

The absolute leader in the estimates, however, is Florida.

In the state, online casino games and virtual slot machines could generate an estimated USD 2.4 billion in revenue for operators in the event of legalization. Potential tax revenues could be around EUR 488 million, according to the study.

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It remains to be seen whether such estimates could lead to increased legalization of online gambling in the future, similar to online sports betting, and lead to the expected boom.