There are more changes in the gambling industry in the US. This time it is the state of New York that is seeing issues to deal with regarding gambling. It has been years now that that state has relied on its state-run lottery to fund various programs. Everything from education to expansion and other public works programs is funded in part or totally by their lotteries. Over the years lotteries have proven to be highly lucrative due to their draws. The state has been happy with its lottery performance and is doing all it can to protect that industry. Now the state legislators are worried that the rise in online gambling could impinge on the funds they rely on to sustain various programs. There are millions of dollars available with lotteries and if people start channeling that into gaming companies rather than the state, this could seriously cut back on the state’s budget. There are few other options that could potentially replace it.
New York legislators have an added concern—neighboring states’ competition. Now that Maryland, Delaware, Maine and Pennsylvania all have their own gambling initiatives in place, this too could cut down on people testing their luck in the lotteries. Add the neighboring state’s competition and online gambling to the mix, and it could spell disaster for the state. So what are they going to do? There is no official plan on what to do, but state officials are bracing for some dip in revenue when it comes to their lotteries. They are hoping that dip will be swift and will return to normal quickly, but if it doesn’t there is no current contingency plan to speak of. Lotteries traditionally have been highly lucrative, but now that competition is entering the market left and right, state legislators are not so sure that it will be able to sustain itself over the long term. Only time will tell if it is going to be alright and if people are going to continue to take their chances at the state-run lottery. If not, it could pose a serious problem for the state to deal with and they may have to increase their own land based and online gambling plans to supplement.