When it comes to sports betting, New York is a particular case.
According to data revealed by the New York State Gaming Commission. The state’s gaming revenue has grown steadily during 2020 and maintains its rhythm in the first month of 2021.
For example, in January 2020, the revenue was $1,943 million, while it grew to $2.3 million in December.
Moreover, during the first month of 2021, the revenue was $3,570 million. This indicates that New Yorkers are increasingly interested in sports betting.
In fact, it is interesting that throughout 2020 the market continued to grow despite the COVID-19 pandemic. This shows that the negative effects of it have not so hit the gambling industry.
The problem of online gambling
However, New York has a growing betting market, it presents a big problem. Since, bettors must go to brick-and-mortar sportsbooks and casinos to place their bets.
In other words, New York does not have the option of online sports betting, which limits the options and possibilities of placing bets for New Yorkers.
But, it seems that that could change soon. Since Governor Andrew Cuomo is interested in allowing online sports betting.
Cuomo sees an opportunity in online sports betting to raise more taxes to give some oxygen to the $15 billion budget deficit.
Nevertheless, New York may soon have online sports betting. Not all of it is good news because Cuomo’s plans are for online sports betting to be entirely controlled by the state.
As a result, online operators would not have a competitive market. Something similar happens in other states, where the state controls the only online betting operator, and it does not offer attractive odds.
Although the scenario does not look very promising in New York at the moment, Pay Per Head bookies should not lose sight of this market.
Remember that Pay Per Head bookies can offer their betting services to residents of any state, since it is legal to bet with offshore operators.
For this reason, Pay Per Head bookies should start preparing their strategies to attack the New York market.
