Ever since sports betting became legal, the question of New York online gambling has been tossed about. Now, there’s a new bill being proposed by State Senator Joseph Addabbo, which would create a regulatory framework for web based casino games, including online slots.
This week’s big story finds that New York online gambling expansion could become a reality if one State Senator has his way. The same man who brought mobile sports betting to the state, Joseph Addabbo, has put forth the new legislation.And while this may be exciting news, there is little chance that it passes this year.
Also, just like the absurd New York sports betting tax rate of 51%, the new legislation would find operators paying over 30% to do business in the state. Since it’s not close to passing anytime soon, there is the chance that the taxes could be lowered. However, knowing this state and its politicians, there may be a better chance of hitting the lottery.
You may recall that a few weeks ago that we reported about how both DraftKings and FanDuel warned New York about their excessive 51% tax rate, and claiming it is “unsustainable. Additionally, they told representatives that if the rate was not lowered, they and other operators could end up exiting the New York Market altogether.
