Online gambling has never been easier, raising concerns for experts in the Empire State. It was reported that in 2024 alone, New Yorkers lost over US$2 billion in games of chance. This has become a significant issue for local gambling education groups.
Additionally, on Sunday, the Philadelphia Eagles faced and overcame the Kansas City Chiefs in Super Bowl LIX in New Orleans. This is undoubtedly the most significant sporting event in the United States, generating billions in sports betting revenue every year. Naturally, this also applies to New Yorkers, who are passionate about NFL action.
New Yorkers Lost Over US$2 Billion
Latest reports confirmed that throughout 2024, New Yorkers lost over US$2 billion on gambling activities. This was a 20% increase over the same merit from the year before. It was also revealed that most of the funds were gambled away by males between the ages of 18 and 35.
It’s no secret that the surge in wagering volume and lost money corresponds with the launch of mobile sports betting in the Empire State. In the meantime, experts and advocates claim that there are not enough disclaimers to protect people from the barrage of gambling advertisements.
Jim Maney, Executive Director of the New York Council on Problem Gambling, recently said that the New York State Gambling Commission has put plenty of effort into raising awareness about problem gambling. However, he reckons more can be done on a larger scale.
Here’s the full quote from the Executive Director of the NYCPG:
“What's different about gambling is that there is no federal oversight of gambling. There's federal oversight of alcohol, substance abuse, everything, right? But there's not gambling, and that's one of the areas that we lack in so henceforth, there's no funding that comes down to States…of anything.”
The NYCPG is a non-profit organisation devoted to raising awareness about problem gambling and providing support and services to those who have been affected by problem gambling.
Given the constantly expanding gambling industry, the organisation tries to keep up with the ongoing need to address problem gambling and its related risks in New York. It also aims to expand its operations in new ways and thus help more people in the state.
Congressman Targets Betting Ads
Two years ago, New York congressman Paul Tonko introduced a bill to deal with the abundance of gambling ads. His proposed legislation aimed to ban online and electronic sports betting commercials in New York and the United States as a whole.
However, his efforts didn’t end there, as he continued his battle against predatory ads. In September last year, he also submitted a bill that would require states with legal sports betting to meet minimum federal standards in the categories of advertising, affordability, and Artificial Intelligence to create a safer product.
Still, Tonko admits that the process is still underway, noting that lawmakers worked hard on it. He also shared his concerns that problem gambling is a public health crisis that will only get worse. He added that he has contacted various groups to get more insight on the topic and file the legislation in the current session.
New York Launches Mobile Sports Betting
On January 8, 2022, the Empire State officially kicked off its regulated market for online sports betting. After the legalisation, the state started taking online bets on sporting events. Currently, there are a total of nine private-owned operators who are allowed to conduct mobile sports betting in the state. They are the following companies:
- Bally Bet
- BetMGM
- Caesars Sportsbook
- DraftKings Sportsbook
- ESPN Bet
- Fanatics Sportsbook
- FanDuel Sportsbook
- Resorts World Bet
- Rush Street Interactive
Under the current state regulations, these nine operators are taxed at 51% on their sports wagering revenue. Most of that revenue is set aside to help the education of the state’s public schools. Meanwhile, there are also other allocations, including
- US$5 million per year to support sports programs for underprivileged youths
- US6 million every year to aid problem gambling education and treatment.
Despite its limited model, the Empire State market quickly became one of the leading online sports betting jurisdictions in the U.S. In its first year of operations, NYS accumulated a total betting handle of US$16.2 billion. Thus, breaking the annual mobile sports betting handle for a state in the U.S. The previous record was held by New Jersey with US$10.9 billion in 2021.
Sports Betting Grows More Popular
The annual betting handle grew for the Empire State in 2023 and then again in 2024. Provided that the state’s passionate bettors keep the same spirit, the latest one should be the largest one yet.
This proves that mobile sports betting only grows more popular among the residents of NYS as more and more people engage in it. That is why it’s key for local lawmakers and organisations to up their gambling education efforts and protect New Yorkers.
Meanwhile, the New York Council on Problem Gambling reminds that it provides 24/7 support for those experiencing problem gambling. Don’t be afraid to contact the organisation by calling the NYS OASAS HOPEline at 1-877-846-7369 or by texting them at 467369.
