New York and Maryland are considering legalizing online gambling, a move that could potentially bring millions of dollars in revenue to their states. The two states are currently in discussions with various stakeholders to determine the best way to regulate this new industry.
Internet gambling has become increasingly popular in recent years, with many states looking to capitalize on the potential tax revenue that could be generated. New Jersey, Delaware, and Pennsylvania are among the states that have already legalized online gambling, with great success. According to a report by the American Gaming Association, online gambling generated over $203 million in revenue in New Jersey alone in 2020.
Both New York and Maryland are currently facing budget shortfalls due to the COVID-19 pandemic, making the potential revenue from online gambling all the more appealing. Proponents of the move argue that legalizing online gambling would not only bring in much-needed revenue, but also create jobs and boost the economy.
However, there are also concerns about the social implications of online gambling. Critics worry that easy access to gambling could lead to increased addiction and problem gambling. In response to these concerns, both states are looking into implementing safeguards such as age verification and self-exclusion programs to protect vulnerable populations.
In New York, Governor Andrew Cuomo has expressed interest in legalizing online sports betting, but has yet to make a decision on online casino gambling. A recent study commissioned by the state estimated that legalizing online gambling could bring in over $1 billion in revenue over the next four years.
In Maryland, lawmakers are also considering legalizing online gambling, with a bill currently under consideration in the state legislature. The bill would allow for online sports betting, as well as online casino games such as poker and blackjack.
If both states move forward with legalizing online gambling, it could have a ripple effect across the country, leading more states to follow suit. With the potential for millions of dollars in revenue on the table, it seems likely that online gambling will continue to be a hot topic in state legislatures across the country.
