While New York has yet to legalize online gambling, there is an expectation that it will do so in the near future. The state is a tourist Mecca and iGaming is expected to boost tourism and, in turn, the state budget. That’s especially important when you consider how much money New York has been hemorrhaging due to a lack of revenue in recent years. This money could be used to fund things like transportation and healthcare, both of which are major needs in the Empire State.
While there are still some concerns about the social impact of online gambling, many states have found that iGaming is not only popular, but it also provides a significant amount of tax revenue. For this reason, legislators are increasingly open to regulating online casino games and online slots. Some are even pushing for the expansion of sports betting into iGaming.
With so much interest in online slot gambling, it may be difficult to determine if it is safe to play. However, it is important to note that online casinos are regulated by state gaming commissions and must meet certain requirements. For example, they must use software that has been tested to ensure randomness and fairness. Additionally, all payout percentages and other factors are checked to make sure that they meet industry standards. In addition, the state gaming commission will oversee the entire process, so you can be sure that your personal and financial information is secure.
It was widely believed that once New Jersey launched its online lotteries, the state would quickly approve online casino games and online poker as well. But that’s not necessarily the case. In fact, New York’s online gambling prospects have been stalled by the federal government and the Federal Wire Act. The Act, which was passed before the commercial inception of the internet, prohibits transmission of wagering information across state lines. A 2011 reinterpretation of the law has opened the door to sports betting, but not to other types of online gambling.
In the meantime, New York residents who are interested in playing real money online casino games should check out reputable licensed and regulated sites. These platforms will have extremely strict security and privacy policies, which are far more stringent than those of illegal online gambling sites. In addition, these sites are subject to regular audits by the state gaming commission to ensure that they are operating in compliance with all laws and regulations. Those who do decide to gamble at an unlicensed site run the risk of running into all sorts of problems, including predatory playthrough requirements that can be as high as 50x your deposit plus bonus amount. This is a huge red flag that should be avoided at all costs.