Press Releases
PlayNY: New York could be $20 billion sports betting market, but may not reach potential
New York could become the largest legal sports-betting market in the United States, capable of generating $20 billion a year in wagers, if Gov. Andrew Cuomo makes good on his proposal to make online sports betting legal in the state, according to projections by PlayNY, which offers news and analysis of the New York gaming market. But the state could fall short of that potential if mobile sports betting is run as a monopoly through the New York State Gaming Commission.
“There is no question that New York would almost immediately become the crown jewel of the legal U.S. sports betting market,” said Dustin Gouker, lead analyst for PlayNY.com. “The devil is always in the details, but opening a market that could be worth more than $20 billion a year in bets could be a game-changing moment for the entire industry. On the other hand, a state monopoly, such as what Gov. Cuomo proposed, would be a mistake that could forever limit the ceiling for New York.”
With an open market such as New Jersey, New York has the potential to generate more than $1 billion of gross gaming revenue annually on more than $20 billion in bets, according to PlayNY projections. Though the tax structure is yet to be decided, if taxed identically to retail sportsbooks, that would produce more than $100 million in tax revenue annually.
The Empire State has already proven to be a significant revenue generator for New Jersey. A report from gaming researcher Eilers & Krejcik Gaming in February 2020 estimated New Yorkers wagered $837 million in New Jersey in 2019.
“Mobile sports betting will undoubtedly draw billions in bets in New York, and is easily one of the most prized markets that have yet to legalize it,” said Eric Ramsey, analyst for PlayNY.com. “It will be a big market no matter what, but the Cuomo plan has a chance to significantly lower the potential revenue ceiling.”
Several states have structured their online sports betting operations as a state-run monopoly. States such as New Hampshire, which contracted DraftKings to operate the state’s online sportsbook, have contracted major sports betting brands with positive results. Others, such as Montana, Oregon, and Rhode Island, operate online sports betting exclusively themselves. Generally, that results in suppressing a state’s handle by an average of 50% of the market’s potential, according to PlayNY research.
A state-run sportsbook allows the state to capture more of the gross gaming revenue, which makes it appealing to state governments. But a monopoly would do little to aid struggling racetracks and retail casinos in New York. And bettors are left with fewer choices and less enticing promotions, among other issues.
“The intent for New York and other states is to produce revenue for the state, and a state-run monopoly can do that very thing,” Ramsey said. “But bettors ultimately suffer and tend to engage less than in states that are open markets, artificially reducing the size of the market. It’s a balance that New York will have to grapple with as the state figures out how to structure mobile sports betting.”
For more information and analysis on regulated sports betting in New York, visit PlayNY.com/news.
Intralot S.A. informs the investor community and its stakeholders that on July 15, 2025 the Maryland Lottery and Gaming Control Commission approved the recommendation to award a new Lottery Central Monitoring and Control System (LCMCS) contract to its US subsidiary, Intralot, Inc. following a competitive bidding process.
The vendor awarded the contract will manufacture the counter terminals and self-service vending machines that sell tickets at 4,300 Maryland Lottery retailer points of sale; develops the software that runs the system’s sales and accounting functions; and provide numerous related services that are necessary to operate the Maryland Lottery. The term of the contract is 10 years with a possible 5+1 year extension.
As part its proposal to the State, Intralot has engaged nine local business enterprises (MBE) to service the Maryland Lottery contract. Historically, vendors have used fewer MBE partners, but Intralot believes its new approach will create far greater opportunities for local communities.
Intralot’s financial proposal corresponds to a total estimated contract term price of $260,393,946.
The Gaming Control Commission’s approval is an intermediary step in the award process for
approving any future contract.
Latest News
Spinomenal Goes Live Across Caesars Entertainment’s Marquee Online Casino Brands in New Jersey
Spinomenal, a leading content provider in iGaming, has launched its online casino titles on Caesars Palace Online Casino, Caesars Sportsbook & Casino and Horseshoe Online Casino in New Jersey, as part of its United States expansion strategy. This collaboration brings Spinomenal’s top-performing titles – along with exclusive titles like Hut with Chicken Legs and Majestic Claws – online for New Jersey players 21 and older via the Aristocrat Interactive platform.
These games are designed to convey rich storytelling, striking visuals, and high entertainment value, aligning perfectly with Caesars’ commitment to offering best-in-class experiences to its players. This strategic expansion reinforces Spinomenal’s commitment to delivering top-tier gaming experiences in New Jersey. With the growing demand for cutting-edge online casino content, Spinomenal is strengthening its foothold in the state while further establishing itself in the broader U.S. market.
Yossi Shayovits, Head of Business Development for Spinomenal commented: “We’re incredibly proud to launch this content partnership with Caesars Entertainment, a true titan of the gaming and entertainment world. Combining our standout slot portfolio with the prestige, trust, and reach of the Caesars brand sets the stage for a powerful, long-term success story for both sides.”
Matthew Sunderland, Senior Vice President and Chief iGaming Officer at Caesars Digital added: “We’re pleased that our players in New Jersey can now enjoy Spinomenal’s captivating titles on our iGaming platforms. This addition enhances our ever-growing catalogue of games, ensuring a dynamic and engaging experience for our users. We’d like to thank our partners at Spinomenal for their support in delivering an unparalleled online casino experience.”
Latest News
Caesars Entertainment and Bread Financial Introduce New Caesars Rewards® Prestige Visa, a Premium-Level Credit Card Allowing Caesars Rewards Members to Earn Tier Status Faster and Unlock Luxury Rewards with Every Purchase
Caesars Entertainment (NASDAQ: CZR), the largest casino entertainment company in the U.S., is playing a bold new hand by launching a second, elevated, Caesars Rewards® Visa Signature credit card with Bread Financial (NYSE: BFH), a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions. For a $149 annual fee*, the Caesars Rewards Prestige Visa Signature credit card includes up to $450 in annual value and gives members all the benefits of high-end experiences as well as waived fees for foreign transactions*.
Cardmembers will receive Prestige Perks worth up to $450 and redeemable annually across Caesars’ 50+ U.S. destinations, including:
- A complimentary hotel night upon anniversary (up to $300)*
- $50 Slot Play*
- $100 Caesars dining credit*
- Accelerated earn rates for Caesars Rewards destinations at seven Reward Credits® per $1 spent*
“Caesars Entertainment has always been about giving our members unmatched access to the best experiences in the industry,” said Josh Jones, chief marketing officer at Caesars Entertainment. “Through our world-class Caesars Rewards program and our relationship with Bread Financial, we’re expanding the ways our members can earn and enjoy perks—from one-of-a-kind experiences, exceptional dining options, accelerated status opportunities and more – this new card option brings even more excitement, value and VIP treatment to every guest staying and playing with Caesars Entertainment.”
“The Caesars Rewards Prestige Visa credit card gives cardmembers more ways to earn rewards immediately on everyday purchases and unlock exclusive perks on travel, entertainment, dining and gaming —making every tap a step closer to their next unforgettable Caesars experience,” said Val Greer, EVP and chief commercial officer at Bread Financial. “This new credit card offers Caesars’ most dedicated members additional opportunities to make each purchase even more rewarding.”
Additionally, the credit card provides more ways to earn Tier Credits through welcome offers and annual bonuses, enabling members to achieve their Caesars Rewards loyalty program tiers faster. New cardholders can earn up to 25,000 additional Tier Credits in their first year*.
Welcome Offer
- Platinum Status upgrade*
- 2,500 Tier Credits after first purchase outside of Caesars Rewards destinations*
- 20,000 Reward Credits and 2,500 Tier Credits after $1,000 spend outside of Caesars Rewards destinations*
Annual Bonuses
- 2,500 Tier Credits with $5,000 annual spend + another 2,500 Tier Credits with $10,000 annual spend*
- 15,000 Tier Credits with $50,000 annual spend*
The new credit card adds to the existing Caesars Rewards Visa suite, including the Caesars Rewards Visa Signature Credit Card. Whether members are gaming, dining, or on the go, Caesars and Bread Financial have cardmembers covered with two distinct credit card programs to choose from and limitless ways to earn. The Caesars Rewards Visa card has also been elevated with a sophisticated new black design, bringing a sleek, modern edge to a card that delivers everyday perks with timeless luxury.
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