As several other states consider online gaming legalization, New York Sen. Joseph Addabbo (D) has once again introduced a bill in New York.
Addabbo chairs the state’s Senate Racing, Gaming, and Wagering Committee, and was a backer of mobile sports betting in the state. Over the last few years, he’s also attempted to bring iGaming and online poker to New York, but has yet to get the legislation over the hump.
Those in the industry believe the Empire State could be the largest online gaming market in the country, potentially adding population of 19.6 million to the country’s online poker shared liquidity agreement.
Details On The Bill
Under SB S2614, all nine sports betting operators already in the state would be allowed to offer online gaming. The state’s four upstate casinos could also receive licenses along with three planned downstate casinos, in addition to more than a dozen tribal gaming operators.
The bill calls for a 33.5% tax on gross gaming revenue, which is lower than the 51% tax on mobile sports betting. In 2024, New York set a record by collecting more than $1 billion in sports betting tax revenue. During the year, online sports bettors wagered more than $22.3 billion overall.
Operators would be required to let gamblers know once their lifetime deposit amount reaches $2,500. New Yorkers would also be permitted to buy lottery tickets online.
There are 34 New York casinos overall, 21 tribal and 13 commercial, which employed nearly 70,000 as of 2023 and brought in $4.72 billion in gross gaming revenue. Those figures are expected to rise considerably when yearly reports are released for 2024.
Sweepstakes Gaming Ban Possible
Addabbo also recently announced that he planned on seeking a ban on social and sweepstakes casinos in the state. His iGaming legislation would also ban these companies from seeking a license for three years.
“By addressing the sweepstakes casinos issue and allowing a regulated iGaming casino option, we are demonstrating our commitment to protecting New Yorkers, dealing with gaming addiction, while adding tax revenue beneficial to all state residents,” he noted in a statement.
A legislator in New Jersey also recently announced a bill to regulate sweepstakes casino gaming. Other states with bills put forward for online gaming and poker so far this year include Massachusetts, Indiana, and Wyoming.