Deloitte is a company that provides audit, consulting, and tax advisory services. Recently, a Deloitte study showed that the Ontario-regulated online casino industry positively impacted the province’s economy. Mostly job creation and government revenue. This showed what an online market in New York could bring to the state and its residents. Since Ontario launched its iGaming market in April 2022, they’ve accounted for 14,935 full-time employees and $1.24 billion in new government revenue.
There has been recent momentum for online casinos in New York, but several factors still stand in the way. Senator Joseph Addabbo filed a bill to legalize NY online casinos in 2024. However, that was met with opposition from the New York Hotel and Gaming Trade Council (HTC). The HTC said they could not support a bill that would cannibalize jobs in the industry. This directly contradicts the data from Deloitte and the Ontario market.
How did Ontario’s online betting market help sustain the industry?
In the first year of Ontario’s online betting market, they sustained just over 12,000 jobs. Two years into the market being legal, Ontario has now helped create 14,935 iGaming jobs in Ontario, a 23.7% increase. Additionally, online casinos contributed $2.7 billion to Ontario’s GDP in year two. Ontario Attorney General Doug Downey had this to say.
“Our made-in-Ontario igaming sector is being recognized internationally for its success as a leader in this space. … Our igaming sector is not only a job creator here in Ontario but it shows the world our ongoing commitment to building a sustainable and responsible igaming industry.” – Doug Downey
New York had a larger population than Ontario and that puts them in a position to be highly successful. In 2023, NY had a GDP of $1.78 trillion which was third behind Texas and California. When New York finally opens their online betting market, the state will have unseen levels of revenue.
