Addabbo files bill to legalise igaming in New York

Senate Bill 8412 has been referred to the racing, gaming and wagering committee for further approval.

The bill calls for the implementation of remote wagering, allowing for players to play online casino games through virtual or electronic means provided they remain within New York and provided their bets are accepted by electronic equipment located at a licensed gaming facility.

Operators of New York land-based casinos are allowed to use up to two interactive wagering platforms, provided that these platforms have been authorised by the New York Gaming Commission. They will also be required to pay a one-time fee of $2m, while independent contractors – the online brands operators choose to partner with – will have to pay a $10m fee.

The tax rate for interactive wagering has been set at 25% of gross gaming revenue derived from the platform. This will be separately maintained and deposited into the state’s lottery fund.

Indian tribes are permitted to offer interactive wagering in the state so long as they adhere to the same conditions as casino operators.

The current legislation only permits casino gambling at no more than seven facilities within the state.

New York launched mobile sports betting in the state back in January, before going on to set a new record for statewide handle at the end of its first month.