If you’re in the market for some fun and potentially lucrative gambling action, it’s hard to beat online slot machines. These digital versions of the classic one-armed bandits give players the opportunity to spin reels, win big cash prizes and often even enter a progressive jackpot pool that grows with every play.
While many people see slot machines as a waste of money, the truth is that if used responsibly, these games can be highly profitable. With this in mind, it’s important to keep your gambling habits in check. This means limiting your time spent playing slots and never betting when you’re bored, angry, or drunk.
The first thing to understand is that while gambling is legal on a federal level, individual states have the authority to make and enforce their own gambling laws. As a result, a patchwork of regulatory systems exists across the country. Some states ban certain forms of gaming altogether while others allow it but regulate it differently. For example, Nevada state law permits land-based casinos but does not permit or regulate online versions of the games.
New York, on the other hand, has taken a different approach. State Senator Joe Addabbo introduced a bill in 2019 that would permit online casino gaming, and it’s clear the state wants to be a player in this growing iGaming market.
If it does launch, the state will need to make sure its regulations are in line with other states. The iGaming industry is still in its infancy, but lawmakers should take cues from the success of New Jersey. New Jersey’s online casinos pull in more than $80 million in monthly revenue and that figure continues to grow year after year.
Moreover, New Jersey’s iGaming industry has helped it balance its budget by injecting millions in tax revenue into the state coffers. It’s no wonder lawmakers in other states are taking note of the benefits of iGaming.
If online casinos do launch in New York, the state can expect similar revenue streams. But it’s also important to remember that New York’s population is huge, so the potential for iGaming revenues could be massive.