New York Online Gaming Bill Now Only Includes PokerPlan Allows For Shared Player Liquidity With Other States |
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Efforts to legalize online gaming in New York have changed with a bill now limited to just poker. Sen. Joseph Addabbo (D) said he hasn’t been able to galvanize enough support for a more expansive online gaming bill and as a result has introduced a more scaled-down version of the legislation.
The change comes despite the state’s considerable projected budget shortfalls reaching billions of dollars over the next few years. Addabbo had hoped the original bill, which legalized online casino, poker, and lottery sales, would help offset some of that.
“Not only this will help New York regulate an industry that is presently operating without oversight in New York State, but also generate additional revenue from taxes and licenses fees associated with a licensed online poker system in New York State,” said Addabbo, who chairs the Senate Committee on Racing, Gaming and Wagering.
Details On The Plan
The original bill called for a 30% tax on the industry. Legalizing poker alone would produce much smaller numbers than iGaming has produced in other legalized states, however, with 20 million people, adding the Empire State would be a major addition to U.S. legalized online poker.
Addabbo’s bill would allow as many as 10 poker licenses. Operators would pay $10 million each for a license with revenue taxed at 15%, half of what was planned for iGaming in the previous bill.
The poker bill authorizes entering into interstate agreements with other states for shared liquidity noting: “The commission, by regulation, may authorize and promulgate any rules necessary to implement agreements with other states.”
Adding New York to the Multi-State Internet Gaming Agreement (MSIGA) would be a major boost to the country’s online poker pools. The agreement already includes New Jersey, Michigan, Nevada, and Delaware.
West Virginia joined in November and is expected to see an operator go live in the state this year. Efforts are also underway in Pennsylvani to see that state join the MSIGA as well.
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