New York Politician Seeks iGaming Legalization

A New York politician has introduced a bill into the State Senate that would modify the state's current gambling laws to allow for internet betting.

Senator Joseph P. Addabbo Jr. introduced Senate Bill S4856, which would modify the Empire State's Racing, Pari-mutuel Wagering and Breeding Law. It would do so by allowing for online betting on table games, slot machines, and live dealer titles, allowing racetracks, Native American tribes with gambling compacts, and casino resorts to offer the services. Notably absent is online poker, as another bill would covers the activity.

Each online operator would be permitted to sign with one platform provider.

A licensing fee of $2 million would be in place but could rise to $10 million if the casino is going to use another provider's branding (ie. DraftKings). The period for the license would be 10 years, and the vertical would be regulated by the New York State Gaming Commission.

Online gambling would be taxed at a rate of 30.5% on gross gaming revenues. Funds would go to the state's educational assistance fund. $11 million annually would be given to a fund to promote responsible gambling and gambling addiction treatment.

The bill has a ways to go before it can become law. It would be up for debate and voting in the Senate before moving to the House. If it passes there, it'd go to the desk of Governor Kathy Hochul, who can sign it into law or veto it. As of press time, there isn't any indication as to how she stands on the measure.

Casino Listings News will update readers as we learn more.