Last updated on January 13th, 2024 at 01:46 am
Senator Joseph Addabbo introduced a revised New York online gambling bill that would legalize online lottery and online casinos in the state. The Senate referred SB S8185 to the New York Senate racing, gaming, and wagering committee.
According to gambling news reports, Addabbo’s most recent endeavor is to build a legitimate online casino in New York. His most recent effort, S4856, was introduced in early 2023 and sought to accomplish the same as the most recent law. Nevertheless, in the end, it was not approved.
In SB S8185, the eligibility for licenses is a crucial piece of information. The land-based casinos in New York are among the eligible parties. There are four casinos in the upstate and three more in the construction stages in the lower state.
A total of three racetracks are also eligible to run. The state has a gaming agreement with three New York tribes. Thus, they are also qualified to apply for licenses. Native American groups in this area include the Oneida, Seneca, and St. Regis Mohawk Tribes. They may also need a revision to the compact.
New York Online Gambling Bill
According to sportsbook pay per head reviews and news sites, there will be a bidding procedure to issue three more licenses. License applicants must adhere to affirmative action programs authorized by the Commission to be considered for the licenses.
Each casino or operator will be liable for a one-time payment of $2 million upon licensing. The operator, plus any third parties hired to host their iGaming platform, will have to fork up $10.0 million.
Gambling news reports say companies must operate their live dealer studios in New York. Operating a live dealer game requires a labor agreement with a union to qualify for an interactive gaming license.
Draft regulations for online lotteries are also detailed in the bill, in addition to information on iGaming. If passed, the measure would open the door for New York residents to participate in online lotteries that are both interstate and multi-jurisdictional. One way to do this is through a desktop computer or a mobile device.
It further specifies that the New York State Lottery would supervise the online ticket sales. If this measure were to become law, it would be immediately effective. Thus, people can become an online bookie and casino operator in the state.