The statehouse of New York has several questions to answer: Has the gambling industry in the state reached a saturation point? Is it true that when it comes to the number of venues for gambling, the city that never sleeps has run out of free space for the operators? The reason for these question, to come to the attention of the authorities, are the recent discussions among lawmakers about the legalisation of online poker.
As the interest in gambling on the internet rises, making the card game legal looks like the best choice. However, the owners of several gaming facilities across the state fear the negative consequences for their business. While the introduction of a new gaming feature to the gambling industry of New York can be profitable for some operators, others will have to deal with financial losses. Bookmakers and casinos who end up on the losing side will have to take extreme measures. For Jeff Gural, the head of the Vernon Downs racino, that would mean closing his facility and releasing hundreds of workers.
The new Casinos of the New York District
The gaming policy of the state became a problem about a year ago. At that time, three casinos opened doors in the Northern area of New York. It didn’t look like the newbies would stand a chance, as the district had already twenty venues in the niche. These included nine racinos and eleven Native American casinos. However, the new facilities were offering full-service betting, which proved to be a huge advantage. Because of that, they quickly became rivals to many of the local operators regarding gaming quantity and quality. Since then, the discussions in New York about the betting laws have been intense.
Unlike the USA, legalising the business of operators that offer full betting services to the community is something that the laws of the United Kingdom know how to handle. Whether you wager on sports matches or casino games, the online bookmakers in the UK can provide all the exact betting options you are looking for. The best among them offer every possible gaming opportunity, but the other operators aim to provide better quality with their limited amount of features. The betting companies of the USA can take an example from their British colleagues.
Expansion of Gambling Facilities in North America
The business of casino and bookmakers keeps finding new markets in other countries as well. A good example for the gaming expansion through the years is the dynamic development of the industry in the Northeast and Eastern parts of Canada. Phil Pantano gave an interview about the topic as a representative of the Native American gaming resorts of the Seneca Nation. According to him, the number of gambling operators in the region has increased three times in the last fifteen years. He stated that during that period the existing gaming facilities took a huge impact.
The three new casinos in New York, which were mentioned earlier in the article, were opened for business in 2013 after the approval of a constitutional amendment by the statehouse. The change in the gambling policy that became a fact was the cancellation of the ban on non-Indian gaming facilities.
Last year, after a lobbying campaign, the lawmakers of the state allowed another gaming feature to be added to the portfolio of the betting operators. Now gamblers have access to the fantasy sports markets, which fans of NFL, NBA, NHL and MLB would be glad to enter
Three of the top games that New Yorkers like to play have continuously grown since their introduction to the public in 1967. These are the lottery games regulated by the state — scratch-off tickets, Quick-Draw and Powerball. The same goes for the four thoroughbred and the eight harness tracks, which are the among the oldest betting games in the history of the state.
Opinion of the Public Regarding the Problem
Many people, who have a business interest in the gambling operators of the state, believe that the policymakers have to take measures against the further expansion of gambling. Gary Greenberg supports the idea not only as a man who has followed the development of the betting industry but as a minority investor in the Vernon Downs racino too. He said that there are a lot of gambling facilities in the state, therefore adding more is unnecessary.
Gural made a statement in June that Vernon Downs loses 150,000 US dollars per month. He said that if that continues, there would be no other choice but to close the facility. The only way he can save the business is by getting permission from the Statehouse to increase the percentage of winnings from video lottery terminals the gaming hall can keep. Since the chances for the latter option are small, Gural is ready to close the racing and the track, along with the restaurants and the hotel.
Gary Pretlow, D-Westchester, who is the chairman of the Assembly Gaming Committee, said that the lower chamber doesn’t agree with Gural’s proposal. Should Vernon Downs be allowed to keep a bigger gaming revenue, that would affect the amount of financial aid for public schools. Still, the chairman hopes that Gural could agree on a proposal about reducing the administrative fees regarding the facility
Reason for the Problem in the District
As online services are a popular trend among gamblers, advertising a land-based operator on the web can solve such a problem. That method is prevalent in Britain as the best way to inform a large audience. Many of the UK operators listed on the topratedbettingsites.co.uk website enjoy a lot of customers at their land-based facilities, thanks to a well-developed internet campaign. Despite that, the popularity of the competition is also an important factor.
According to Pretlow, most of New York has not experienced the saturation of gaming halls, although the many betting operators from Oneida County to the region of Rochester have decreased the profitability of the local operators. That is exactly what causes trouble for the Vernon Downs.
Bennett Liebman, who is a former adviser of the Statehouse regarding the gambling matters, agrees with the chairman. The retired expert thinks that Gural’s complex is too close to the Turning Stone, which is a much bigger gaming operator. Liebman knows that other casinos who find themselves in the same district as an operator from the Oneidas group have a difficult time as well.