Gambling overseas is illegal in the United States, but onshore gambling in casinos, poker rooms, tracks and much more is perfectly legal and it’s the Poker rooms that are making the news with huge cash generations last month.
A report, released by the New York Gaming Commission, said that New York casinos hit around $764k of revenue through Poker in July but there were 3 commercial casinos who said that the results were falling short of what analysts had predicted for the month and the ongoing quarter.
The poker revenue in commercial casinos is only a small percentage of the NY poker industry on the whole, but the staggering revenues generated in that month alone could signify a big change in commercial operations and its poker rooms presence within the poker industry on the whole, not only in NYC, but in the entire USA.
It was only a few short years ago that most New Yorkers would look outside of the big apple for their gambling, whether that was casino or poker play, there was around $1bn every year gambled in out-state casinos rather than being kep in-stake in New York.
It was last year, the fall of 2016, where legislations changed to allow Vegas style commercial casinos in New York, and the commercial poker rooms now styled with the “Las Vegas feel” have contributed over $50m to the state in 2017 so far, and we are only reaching the end of August!
Money inherited from the commercial casinos is reinvested into social funds like education, healthcare and property tax relief from the NY government, so it’s a win-win all round, unless you’re losing at the poker table!