New York’s Sen. Joseph Addabbo continues his online gambling push in the state. Just recently he presented a fresh legislation that would legalize digital casinos. He believes that the iGaming expansion would help the Empire State deal with its imminent budget deficit and build on the success of mobile sports betting. It launched in January 2022.
This is not the first attempt by the lawmaker to introduce legal online gaming in the state, as previously a similar bill, S4856 in 2023 did not gain much traction. He is optimistic it would be New York which expects a budget deficit that could spike up to nearly US$10 billion by the end of 2024 and follow the success of regulated mobile sports betting.
SB 8185
Last week, Mr. Addabbo filed SB 8185, a bill which would change sports betting law to allow online casinos in the Empire State. Operators would be existing mobile sportsbooks, commercial and tribal casinos, and video lottery terminal companies. They will be taxed at 30.5%, similar to last year’s bill, and a license for 10 years, would cost them US$2 million.
The legislation reads that it would legalize any internet-based variant or substantial equivalent of a table game, slot machine constituting spinning reels, poker tournaments, or any other game as described and approved by the New York State Gaming Commission. The state would also launch live dealer studios and facilities to provide a selection of popular casino games.
In addition to that, Mr. Addabbo’s bill also proposes to introduce an internet lottery in the Empire State while also mandating that 0.02% of tax revenue would be invested into training employees. Similar to the online sports betting market, the iGaming one would be overseen by the New York State Gaming Commission, which will monitor for irregularities by the operators.
As mentioned, in 2023, the senator failed in his attempts to legalize iGaming, as his legislation S4856 did not gain any traction in the chamber. But with the glooming budget deficit, Mr. Addabbo is optimistic that it will help the state solve some of it. His new bill will most likely be heavily discussed by the legislature in the upcoming month.
Seeking Sports Betting Expansion Too
Along with Assemblyman Gary Pretlow, Mr. Addabbo is also seeking to expand New York’s sports betting offerings. The plan is to submit a bill which would legalize fixed-odds horse betting and enable the installation of self-service sports betting kiosks in various locations, including professional stadiums, arenas, and off-track betting venues across the state.
The bills in question, S2343 and A3562, aim to fundamentally transform the horse betting scene in New York. In contrast to the current pari-mutuel betting system where odds shift until the race begins, fixed-odds betting would enable bettors to secure odds at the moment they place their bet, providing a more stable betting environment. This legislation would also allow mobile sportsbooks to offer fixed-odds betting.
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