New York Senator promotes Problem Gambling Awareness Month
The Empire State achieved a laudable first year of sports betting, raking $1.4bn in revenue.
New York Senator Joseph P. Addabbo Jr. has stepped up to promote Problem Gambling Awareness Month, which falls this March. The Empire State has seen a successful inaugural online sports betting year, having launched in January 2022.
New York State grossed around $1.4bn in gross gaming revenue for FY2022, bringing in over $700m in state tax revenue. A majority of those funds will go toward the state’s education system.
This put New York City, still a young market, into sixth place on the top US casino markets list (and this list includes combinations of states such as the Baltimore-Washington DC tri-state area).
While Addabbo acknowledges this success had its benefits he was keen to highlight the potential downsides of this upsurge in sports betting in NYC. He works as Chair of the New York State Senate Racing, Gaming and Wagering Committee – and collaborates closely with problem gaming entities like the New York Council on Problem Gambling.
Addabbo commented: “Mobile sports betting has been a great new revenue source for the state and New York quickly became one of the most popular products in the country.
“Now that we have legalized and regulated mobile sports betting in our state, we can identify the people that may have or be in the process of developing a gaming problem.
“Through the safeguards on the apps, like freezing accounts, reporting and the self-exclusion option our hope is to reach these people before they become addicted and prevent them from the pitfalls of gaming addiction.”
New York is looking to expand on the success of its sports betting launch by expanding its offerings into verticals such as iGaming. This would include online casino games like poker, roulette, blackjack and more.
However, Addabbo urges caution with further expansion. He said: “When the legislature works towards safely expanding and regulating gaming in New York, we must make sure that we protect residents from the dangers of excessive gambling.”
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