Published on the 2021-04-29
Following the recent news that the state of New York is now set to pass new legislation to allow online gambling, this has created endless amounts of possibilities for the industry.
Currently, the US is witnessing a considerable surge in new states approving online gambling as they begin to realise the strength of the benefits available to them in terms of the amount that they can make from gambling company taxes.
Just recently the state of Michigan allowed online gamblers for the first time and this has been a monumental success.
New York, having been casting envious eyes north to New Jersey for the last few years, is now preparing to offer online gambling to its residents in what is being seen as a significant coup for online gambling companies - especially those that can gain the lion’s share of the market.
For software providers such as NetEnt, this certainly represents a great opportunity when you consider the size of the New York market and the size of their jackpots could only get bigger which is particularly good news for fans of NetEnt jackpot fans.
Due to the fact that these are some of the most jackpots in the online gambling industry, because of the sheer quality and also popularity of their titles, it means that they should not struggle to attract players.
One of the things that you have to consider about the New York market, which state authorities will have also realised is the vast amount of potential income that they could make from legalising online gambling in the state.
New York, is undoubtedly the finance capital of the world and home to Wall Street; the undisputed financial centre for the entire US and arguably the planet. Financial traders, investment bankers and hedge fund managers alike; all with one thing in common.
Their day job is essentially gambling. Promoted in the right way, online gambling platforms could see a considerable boost in sign-ups and new business which for NetEnt can only be good news. Also, whichever online gambling platforms are granted approval to operate in the state, they will almost invariably have NetEnt products and their flagship offerings are their highly attractive jackpot slots.
Why is this noteworthy? Well, if you just focus on these small groups of individuals (financial traders and investment bankers), the majority of their income far exceeds seven figures on an annual basis and as a result, the level of disposable income is considerably higher than the vast majority of the global population.
The fact that these personas are gamblers to the core, it means that offering them the chance to play on premium online gambling products unlocks a new level of potential income for both online gambling companies but also fellow players around the world.
These are the kinds of gamblers who are inevitably likely to wager four figures on a spin without even thinking about it, which means that jackpot sizes will increase significantly and it could mean that previous records that have been set for jackpot payouts, with NetEnt one of the software providers that have paid out the most, could very easily be beaten in a short space of time.
It is, without a doubt exciting news for fans of NetEnt jackpots and when you factor in the truly random nature of how these work, one lucky player could quite easily be looking at the chance of a payout in the 10s of millions on a regular basis, due to the unlocking of this increased new capital.
To meet demand, it could also lead to NetEnt developing even more exciting jackpots over the next year, especially following their merger with fellow heavyweight software provider, Evolution Gaming, which means that there will be even more resources available and this can speed up new jackpot slots to market.
In addition, due to the possible increased demand that the New York market could unlock, this could lead to even more casino sites at which to enjoy these jackpots, with better welcome bonuses available for players to use on jackpot slots.
Should the New York market lead to even more players taking part, who could arguably be classed as ‘VIP’ players due to the levels of increased wagering, NetEnt might decide to add mini jackpots within their already hugely successful titles which could mean even more winning possibilities for current players.
This is something that no doubt NetEnt might well take very seriously because it could mean that every player takes part for longer in one session due to the fact that they know there is more of a chance to win.
Over the years, winners of NetEnt jackpot slots have come from far and wide including the UK, Ireland, Sweden, and US states where online gambling was already legal. This really does help to emphasise the fact that their jackpot slots are indeed entirely random and also provides hope to players that they have as good a chance of anyone to win, regardless of how much they stake on a particular spin.
Ultimately, this really does depend on how the New York market responds to being able to have access to online gambling sites, but also how aggressive NetEnt are with their marketing.
This means, not only fighting for their jackpot slots to appear high on the online casinos available but also what they can do to make sure their titles stand out among others. The good thing that is in their favour, is that their products are already hugely popular around the world and those New York players who have been to Las Vegas or New Jersey will invariably have had exposure to their products already and be aware of them.
It also depends on whether the ideal demographic of player is attracted to online gambling. For online casinos, this will no doubt be Wall Street executives and in a bid to gain more awareness it could lead to online gambling brands aligning themselves with hedge funds, brokerages and investment banks in strategic commercial deals that will invariably provide exposure to those individuals of a particular brand.
Should this happen, then the floodgates could open and online gambling companies that gain approval to operate in the state may just find themselves onboarding ‘whales’ to their sites, who have an almost bottomless pit of disposable income. It really does represent a great opportunity for NetEnt who will no doubt be aggressively pushing for a sizeable market share and as such, for current NetEnt fans, this would be ideal news.