Online gaming continues to be popular around the globe. Both the American and Canadian gambling industries have seen big changes in recent years. New York has enjoyed tremendous success as has Ontario in Canada since allowing private companies to operate in the province.

New York has seen their gaming revenues go through the roof in the past few years. The amounts that are being earned from sports betting continue to go through the roof.

That hasn’t always been the case. It wasn’t until 2018 that a US Supreme Court Judge made a ruling that changed the American gambling industry forever. He ruled that individual states could make the final decision on whether or not to legalize gambling.

Over 30 states have now gone down that road but it took New York a while to do so. Governor Cuomo wasn’t too keen on doing so but then came the pandemic. The need for additional revenue saw sports betting made legal in early 2022 and they haven’t looked back since. 

It’s not that US states have suddenly fallen in love with gambling. It’s the revenue that can be earned from gambling tax that is so appealing. In New York, the gambling tax rate is 51% and that’s far higher than in other US states. Over $2 billion of gambling tax revenue has been received since January 2022. The estimate for tax revenue to be received in 2025 is $860 million.

In June 2024, $134.2 million revenue was reported by the New York State Gaming Commission. Those winnings came from a handle of $1.47 billion. They were important figures as the state has become the first to go through the $4 billion revenue earnings figures for sportsbooks.

27 months have seen over $1 billion gambled with revenue of over $100 million being recorded on 26 occasions. This year alone has seen over $1 billion in sports betting revenue being recorded.

Whereas online sports betting has proved incredibly popular in New York, online casinos are yet to be legalized. There are only a few US states that have made online casinos legal. With such huge revenues coming from sports betting, the call for online casinos to be made legal continues to grow.

There is hope that this might happen in the future. State Senator Joseph Addabbo is among those who are campaigning for change. Doing so can be a slow process with many arguments over the restrictions that would have to be put into place.

If New York did opt to make online casinos legal, there would not be a shortage of companies wanting to apply to operate in the state. Being able to play games such as blackjack, roulette and slots on mobile devices generates huge revenues where it is legal.

However, while online casinos are yet to be made legal in New York, that doesn’t mean gamblers aren’t playing at them. There is still a thriving black market where gamblers can play at unlicensed sites. 

These don’t offer as high a level of customer protection and the revenues earned are not subject to taxation. If they continue to do well, it will increase the call for online casinos to be made legal. Campaigners will emphasize the amounts of potential gambling tax revenue that is being lost.

In Canada, online casinos are legal and along with the sports betting available are very important for their economy. Whether it is blackjack, roulette or poker that players want to try their luck on, the numbers playing is booming.

The Canadian Gaming Association estimates that there will be nearly 20 million Canadians who in 2024 will have played at an online casino. That figure equates to nearly half of the population of Canada. That’s compared to the USA where it’s 25% of the population. Play here for fantastic odds and a wide variety of slots. 

That estimated figure is virtually double the number for just four years ago. There has been huge expansion, mainly due to Ontario. That province changed the laws so that private companies were able to operate there.

As you can imagine, there has been a large increase in revenue figures. In 2020, the amount recorded was $750 million. For 2024, the total is expected to be at least $2 billion.

It’s all good news for the Canadian gambling industry and also Canada’s economy. The industry has become a major jobs creator and this is expected to continue in the future. This year alone, 25,000 jobs are expected to be created by the Canadian online casino industry. That’s 10,000 more than three years ago.

Tax collectors will also be delighted with the growth of the industry. Federal and provincial taxes have to be paid by operators. This can see between 10 and 25% of gross gaming revenue (GGR) being paid. It’s estimated that this year will see around $450 million paid in federal taxes and $1.2 billion to provinces.

Ontario, Quebec and British Columbia are predicted to have the largest share of revenues from online casinos. Other provinces may lag behind the top three but are seeing improved results.

It can be seen therefore that in both New York and Canada, online gambling continues to grow in popularity. If New York can finally pass a bill to make online casinos legal, then even more billions of dollars will be earned.