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.
âThere is no question that New York would almost immediately become the crown jewel of the legal U.S. sports betting market,â said Dustin Gouker, lead analyst for PlayNY.com. âThe 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.â
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.
âMobile 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,â said Eric Ramsey, analyst for PlayNY.com. âIt 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 stateâs 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 stateâs handle by an average of 50% of the marketâs 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.
âThe intent for New York and other states is to produce revenue for the state, and a state-run monopoly can do that very thing,â Ramsey said. âBut bettors ultimately suffer and tend to engage less than in states that are open markets, artificially reducing the size of the market. Itâs a balance that New York will have to grapple with as the state figures out how to structure mobile sports betting.â
For more information and analysis on regulated sports betting in New York, visit PlayNY.com/news.
Latest News
BETBY STRENGTHENS LATAM PRESENCE THROUGH STRATEGIC PARTNERSHIP WITH CALĂMACO

BETBY, an industry-leading sports betting provider, has announced a long-term partnership with CalĂmaco, a premium B2B sportsbook supplier with a strong foothold across Latin America. This collaboration aligns with BETBY’s expansion strategy in the LATAM market, reinforcing its commitment to delivering state-of-the-art sportsbook solutions in the region.
As part of the agreement, CalĂmaco will integrate BETBYâs award-winning sportsbook solution, including its proprietary esports feed BETBY Games, and comprehensive trading and risk management services. Additionally, by leveraging BETBYâs AI-driven technology, AI Labs, CalĂmacoâs partners will gain access to an unparalleled betting experience tailored to the needs of the LATAM market.
Known for its scalable and robust casino and lottery platform, CalĂmaco will significantly enhance its offering with an additional 300,000+ events, 8,000+ markets, 125+ sports, and 35+ esports provided by BETBY, cementing its position as a go-to supplier in the regionâs competitive iGaming landscape.
Stefanos Karakidis, Head of Business Development at BETBY, commented: âWe are excited to partner with CalĂmaco, a company that shares our vision for technological excellence and operator-focused innovation. Integrating our complete sportsbook solution into CalĂmacoâs platform will enable brands across LATAM to elevate their sports betting offerings and provide their users with an exceptional experience.â
Alejandro Serrano, Head of Business Development at CalĂmaco, added: âBETBYâs sportsbook technology is renowned for its flexibility, scalability, reliability, and comprehensive coverage. Incorporating their award-winning solution into our platform will empower our partners with world-class sports betting capabilities, further strengthening our presence in the Latin American market.â
Latest News
GLIÂź Names Sangeeta Reddy as Vice President, Innovation

To ensure the company keeps its global clients well ahead of the technology curve, Gaming Laboratories International (GLIÂź) has named Sangeeta Reddy as Vice President, Innovation. Previously, she served as Vice President of Engineering. Reddy will lead the companyâs newly formed Innovation division.
âTechnology is advancing at a breathtaking rate. Our mission at GLI is to advance with technology, while also constantly finding ways to do more to keep our clients informed and ahead of whatâs next. In her new role, Sangeeta will continue to evolve our evaluation methodologies via her passion for R&D, her extensive experience both in and out of the gaming, and her strong academic background,â said President and CEO James R. Maida.
Reddy began her gaming industry career in 2001 as a PA Engineer at IGT, specializing in VLT, Slot games. She joined GLI in 2020. Prior to joining GLI, Reddy successfully managed Software QA and Development teams at Thomson Reuters and General Motors.
She holds a certificate from the Harvard Business Publishingâs Emerging Leaders program and a certificate in Associates Computer Information Systems. Her Postgraduate certification includes Chief Technology Officer Program, Business Analytics: From Data to Insights, and Driving Strategic Innovation: Leading Complex Initiatives for Impact from the Wharton School Aresty Institute of Executive Education and certifications in Cloud Computing, Artificial Intelligence and Machine Learning: Business Applications, Artificial Intelligence, and Data Science and Business Analytics from the Texas McCombs School of Business, Postgraduate Program.
Conferences
Rubens Barrichello to Open SiGMA Americas 2025 with a Keynote Speech

Legendary motorsport racer and SOFTSWISSâ Non-Executive Director in Latin America Rubens Barrichello is taking the stage at SiGMA Americas 2025 with an inspiring keynote speech on 8 April, the opening day of the summit.
This will be Barrichelloâs first major public engagement as an official SOFTSWISS representative at SiGMA Americas. In his speech, he will spotlight his vision of racing and iGaming â two worlds defined by speed, precision and passion. Attendees can expect a unique view of how these seemingly distant industries are more connected than it may seem.
In his keynote, Barrichello will share insights that bridge his personal racing journey with the opportunities presented by SOFTSWISS. The speech will also cover the cultural and human elements of doing business in Latin America, and the importance of timing, connections, and adaptability to achieve long-term success in this booming market.
âLatin America is a unique region filled with pure energy, emotion, and drive,” said Rubens Barrichello, Non-Executive Director in Latin America at SOFTSWISS. “The iGaming industry here is moving so fast, that for me itâs like stepping into a new race. But instead of cars, itâs technology, competition, and innovation pushing the progress forward, just like in Formula 1. I canât wait to speak at the SiGMA Americas Summit and share what it takes to grow business on this continent.â
Barrichelloâs active public engagement highlights SOFTSWISSâ strategic expansion into Latin America, one of the fastest-growing iGaming markets in the world. The company has already established itself in the region through certification in Brazil and Peru for its Game Aggregator and Jackpot Aggregator. In addition, SOFTSWISS recently partnered with rising talent Eduardo Barrichello for the 2025 FIA World Endurance Championship.
Rubens Barrichello will also join the SOFTSWISS team at Stand M85, where attendees can book meetings and explore how SOFTSWISS helps partners drive success across Latin America.
About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The companyâs product portfolio includes the Online Casino Platform, the Game Aggregator with over 27,800 casino games, the Affilka Affiliate Platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team counts over 2,000 employees.
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