New York Sports Betting – Off to a Great Start in 2020
Online gambling is now available in many countries, including the United States and Europe. It includes casinos, virtual poker, and sports betting. The first online gambling venue was the Liechtenstein International Lottery, which is operated by the government of the Principality of Liechtenstein. In 1996, the European Union passed legislation authorizing online gambling. While many countries are still reluctant to open their doors to this type of activity, the Liechtenstein government did so in 2006.
New York sports betting has enjoyed a tremendous start in 2020, with a combined $3.57 million in gross revenue through January. The New York state legislature has already approved a plan to legalize sports betting, a move supported by the state’s Governor. However, the Governor has expressed concerns about the single-source model, which has faced harsh criticism in Washington D.C., as it can result in higher prices for consumers. Despite these concerns, the state has voted to legalize online sports betting in 2021.
Despite these concerns, New York’s sports betting industry is off to a good start in 2020. Since the state’s legislature approved the plan to legalize online sports betting in April 2021, individual states are now beginning to legalize other forms of online gambling. This is great news for the state, as a growing number of residents are able to participate in online sports betting. It’s also a great way to generate additional income.