New York Daily Fantasy Sports Bill Sent To GovernorGovernor Has 10 Days To Sign Or Veto The Measure |
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After months of consideration and legislative work, the bill in New York to regulate daily fantasy sports sites has made it to Gov. Andrew Cuomo’s desk, according to a report from NPR.
After arriving on his desk Tuesday, the governor now has 10 days to veto or sign it. If he doesn’t take any action, it automatically becomes law. The bill passed the legislature in June. The report said that Gov. Cuomo hasn’t indicated whether or not he will sign it, but lawmakers who support the plan are confident that he will.
DraftKings and FanDuel, the largest players in the DFS space, agreed to a settlement with New York in March. The settlement called for them to stop doing business in New York until a law was passed. New York represented nearly 13 percent of the active users for the companies.
While lawmakers were able to finalize the DFS bill this year, they weren’t able to put the finishing touches on a plan for regulating real-money online poker. Those efforts stalled in June when the legislative session ended. The online poker legislation passed out of the Senate earlier in June by a 53-5 vote, so there was real progress made on the proposal in 2016. New York is home to nearly 20 million people and has a year-one online poker market estimated to be worth $120 million. A 15-percent tax rate was proposed.
According to State Sen. John Bonacic, New York’s top online poker backer, on an annual basis online poker could be roughly 10 times as lucrative for New York as DFS. Bonacic had said that online poker would likely become legal in the Empire State before DFS.
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