Bill Filed for New York Online Gaming, Lottery, And PokerLegislation Hopes To Build On Sports Betting Success |
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Those hoping to see legalized online poker in New York received some positive news last week with the introduction of a bill authorizing online casino gaming.
The move comes after the Empire State faces a potential budget shortfall as high as $7 billion for fiscal year 2025. Longtime iGaming proponent Sen. Joseph Addabbo (D-Queens) brought the bill to the state senate and some project that the industry could bring in $1 billion annually for the state.
“It’s a good bill,” Addabbo told NY1 on Friday. “We got a lot of input from a lot of individuals, but it’s a starting point. It’s a starting point where I’m hoping that we can have these kinds of discussions during the budget process.”
Hope To Reach The Finish Line
State representatives have made efforts in the past to legalize online poker and iGaming, but that hasn’t been successful. The budget demands and success of online sports betting in the state, however, may now offer a chance for the bill to reach the finish line.
The proposal includes a 30.5% tax rate and $2 million licensing fee. The bill would also legalize online lottery play as well.
Addabbo pointed to the success of online gaming in states like New Jersey and Pennsylvania as an example for New York. The industry saw some state records for revenue set in 2023. Along with those states, online gaming is also legal in Delaware, Michigan, Connecticut, Rhode Island, and West Virginia. Nevada also allows for legal online poker.
Potentially Boosting Online Poker
A potential addition of New York’s 20 million people to the country’s Multi-State Internet Gaming Agreement (MSIGA) could offer major boosts to online poker player fields and prize pools. The agreement allows shared liquidity among poker operators in Nevada, Michigan, New Jersey, and Delaware.
Other states have also considered adding online gaming recently, including Maryland. Addabbo hopes to add to the success of sports betting in the state.
“What we’re seeing is that mobile sports betting in New York is being perceived as the number one product in the country,” Addabbo told Poker Industry Pro in November. “We should build upon that. The timing for iGaming is perfect in the sense that we’re showing that New Yorkers have the propensity and the desire to game with a device, as well as going through a brick-and-mortar site.”
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