New York state senator Joseph Addabbo has filed a new bill, which has been reffered to the New York Senate Racing, Gaming and Wagering Committee, aiming to legalise online gaming and internet lottery in the Big Apple.
Three online gaming licences would be put out to tender. However, licences would also be on offer to other parties including online sports betting operators, video lottery terminal parlours in New York and land-based casinos in New York, including the four casinos existing casinos in downstate New York, as well as the three future casinos that will open closer in New York City.
The bill aims to generate $1bn each year in state tax revenue, along with $150m in one-time licence fees. Licences will cost a one-off fee of $2m although independent contractors, such as an online platform providers will also need to pay $1m. Taxation will be set at 31.5 per cent. Online gaming servers will have to be located within a casino, although live dealer studios can be located anywhere within state lines.
New Yorkers appitite for online betting has already been proven with December 2023 generating $188.3m in online sports betting revenue, a personal best for the state. FanDuel generated a $834.5m handle in December, DraftKings generated $773.4m in bets whilst Caesars came third with $201.9m.
BetMGM, DraftKings, Fanatics, and FanDuel, four members of the the Sports Betting Alliance (SBA), posted a 30-second video on YouTube as part of its Bet on NY campaign.
It said: “New York faces dangerous deficits, and there’s an affordability crisis across the state. Life’s already hard enough for people without raising taxes or cutting services. But there’s a better way to begin addressing this problem. Neighboring states authorized igaming, creating billions in taxable revenue. By letting people play casino games online, we can decrease deficits and help our families and schools. Let’s bring igaming to New York,” the ad concludes