Gambling in New York is a big business right now, and the state seems poised to double down on casinos in the area.

Gov. Kathy Hochul included three of the downstate casino licenses in her executive budget.

State officials say mobile sports betting has already earned the state $150 million in just two and a half months.

State Sen. Joe Addabbo chairs the Senate committee on racing, gaming and wagering. He says once the licenses are approved, there will be an open bidding process to see who lands them.

That alone could be a jackpot for the state, considering the bidding starts at $500 million.

"It could go up, and it probably will go up, so I'm gonna say in the area of $750 million, but I wouldn't be surprised if it's closer to a billion,” said Sen. Addabbo.

News 12’s Kurt Semder breaks down where the money would go and why existing casinos would need a new license.