Senator Joseph Addabbo has filed SB-9226 in an attempt to legalize online poker in New York. He is simultaneously attempting to legalize other forms of online gambling, like mobile casino applications. While the latter appears to have little to no chance at the moment due to its previous failure, there is a slight possibility that the bill pertaining to online poker could see the end of the tunnel.
The Racing, Gaming, and Wagering Committee has received the bill. The legislative session will span through June 06, 2024.
Some of the specifics of SB-9226 have been made public. If passed, it aims to bring 10 online poker operators to the region. The bill proposes a 15% tax rate and delegates the task of regulating the sector to the New York State Gaming Commission. Also, the bill proposes a $10 million licensing fee, valid for 10 years, subject to approval for every online poker operator.
The chances to legalize online casinos in New York are indeed dim; however, Senator Joseph is likely to take another swing at getting it approved during the 2025 legislative session. The ongoing year has not seen a single state legalize online casinos. New York still stands a strong chance in the times to come. Some of the best online casinos in the USA could be looking to file an entry in New York. This includes the likes of BC.Game, BetUS, and Big Dollar Casino.
That said, there are expectations around the rising number of online poker options in Nevada. MGM and Z4 Poker are at the forefront of launching new products in April next year, that is, in 2025. The Nevada Gaming Commission has granted extensions to both brands for the 14th time. What takes away the excitement is the warning by the Commission, citing that the 15th extension may not be on the table in the next year.
Both brands initially received approval in November 2012. Bet MGM bagged unanimous approval, while Z4 Poker nearly secured its spot with a 3-1 vote in its favor. They now have until April 2025 to launch their respective online poker platforms.
Meanwhile, a crucial event—The Borgata Spring Poker—has made a comeback. It started on April 29, 2024, and is expected to go on till May 14, 2024. With three anchor events, it guarantees more than $4 million.
Simply put, there is hype for poker, and online poker is one of the best ways for the industry to reach out to those who are yet to be on board for entertainment. Senator Joseph Addobba is leading the charge for online poker in New York. The verdict is expected to be delivered by the next month (June 2024). All eyes are on the verdict, for it decides if New Yorkers get access to online poker.
