NFL and college football are back and New Yorkers are again busy placing their bets online and stacking up digital handle on one of the regulated digital sportsbooks in the state. Some locals such as Peter Wegrzyn believe sports wagers make sports more appealing as it give people another reason to watch games and makes it more interactive.
This year is the second one of legal mobile sports betting in the Empire State. It officially launched on January 8, 2022, and it allows for a total of nine private-owned bookmakers to accept and offer legal bets on sports online. Currently, the up-and-running operators are eight, due to Bally Bet going offline to adopt new technology and should be back online soon.
Funds Go Back into the State
Sen. Joseph Addabbo of the 15th Senate District shared that in 2022, the Empire State was the number 1 mobile sports betting jurisdiction in the U.S. In his words, the total amount of online revenue from it was US$1.4 billion and the proceeds will be channelled largely towards education, with US$6 million for addiction programs and US$5 million for youth sports.
Mr. Wegrzyn commented he feels better about potentially losing money when betting when knowing that it is going to be invested to help others in the state. He said that if it could be used to something that is helpful, like education then that is fine with him. He added that both his parents are teachers, which is good news for him and he supports the model.
The New Yorker also shared a few thoughts on the influx of betting ads. Mr. Wegrzyn believes that such ads are made to try and persuade individuals to place bets and people should be careful. He explained that commercials from sportsbooks do not really affect him and that he had no plans to place wagers just because he saw an ad, unlike some people who do it.
Mr. Wegrzyn reminds that while betting can be fun, it can also be quite addictive and shared that he never forgets the golden rule of gaming ‘Don’t bet more than you’re comfortable losing’. He urged people not to look at gambling as another form of income, since it is not and should be viewed as something to do for entertainment purposes only.
Two Important Announcements
In the meantime, the end of August 2023, marked another important milestone for the state’s sports betting sector. It hit approximately US$1 billion in sports gaming revenue so far in 2023. All of the proceeds arrived from its mobile sportsbooks, with the exception of US$5.4 million which was generated by the four commercial casinos in the upstate region.
However with the increasing popularity of sports wagering, the state has taken some measures to protect consumers. In June 2023, the New York State Gaming Commission and Office of Addiction Services and Supports introduced a voluntary self-exclusion Support program allowing local gamblers to willingly enroll and take a break from playing for a certain period of time.
Source: “How mobile sports betting impacts New York” Spectrum News, October 1, 2023