New York Online Casino Bill Could Put State On Par With Its Neighbors
New York Sen. Joseph Addabbo has introduced a bill to legalize New York online casinos. The bill's prospects are uncertain, but it would bring NY gaming on par with neighboring states.
New York's online casino legalization bill would legalize online slots and table games in NY. Each land-based casino operator in the state would get a license. The licensees could offer their own platforms or contract with a third party to handle this segment of their businesses for them. Licenses would cost $2 million unless they plan to use their their. own online platforms. 25% of revenue from online casinos would go to the New York state.
New York is attractive market for gambling companies. Several current casino licensees have their own online gambling platforms. Other casinos have existing retail sports betting partnerships. DraftKings runs an online casino platform in neighboring Connecticut, New Jersey, and Pennsylvania. New York's online casinos lag behind New Hampshire and New England. New Yorkers are more accessible than their neighbors. They are also more affordable. The state is set to award up to three more Class III licenses as soon as later this year.
Addabbo's bill does not mention online poker. It is less than two months since legal online sportsbooks launched in New York. The bill has no co-sponsors and so far, no other New Yorkers have committed to supporting it. Addabbe tried for several years to get online gambling passed before it actually happened in 2021.