Senator Joseph Addabbo, SB9226, wants to authorize the New York Gaming Commission to give licenses to poker sites for offering specified variants of online poker, more precisely Omaha Hold’em and Texas Hold’em since both require a skill. The bill redefines poker as the game of skill.
SB9226 requires granting up to ten licenses for online poker, subject to a 15% tax rate on their gross revenue that will be added to the state commercial gaming fund.
The licensing fee would bring $10 million of revenue and would be valid for ten years with an option to offset taxes paid over the first five years.
How Much Money Would it Bring?
Addabbo says that the legalization of online poker would provide a safer environment for New York residents who are already playing in an unregulated and risky environment.
In the video below, we can see an example of illegal gambling and criminal activity that goes with it. Legalizing online poker has the potential to reduce this kind of activity.
He also emphasizes that online poker could generate for the state through taxes and licensing fees, estimating up to $100 million in licensing fees and annual tax revenue from $2 million to $5 million.
If the bill gets approved by the Senate, it would still need Gov. Hochul’s approval before becoming law.
Online Gambling Doesn’t Have Governer’s Support Yet
After announcing her executive budget, Gov. Hochul didn’t include revenue from online gambling or poker (around $475 mil), which is a sign that online poker doesn’t have her approval. The exclusion is not a surprise, but there is still a chance that the bill will be passed.
News Source: CasinoBeats and PokerFuse
