Institutes a $2,500 annual cap on deposits by credit card.Īddabbo also included a unique policy that requires all live dealer games to be union jobs.Has a responsible gambling messaging trigger after $2,500 in lifetime deposits.Requires $11 million of annual tax revenue to be set aside for problem gambling.On the responsible gambling front, the bill: That rush (New Jersey is the fastest state to launch an online casino industry at nine months from legalization to launch) indicates New York regulators would rely heavily on existing approval in other jurisdictions for game and system testing. The bill also calls for a launch date of 120 days after regulations are published. That’s not surprising, considering all of the licenses (sans the three competitive bidding licenses) are already licensed in the state.

One of the more interesting components is an accelerated launch timeline, including immediate licensing. The bill has a multi-level licensing fee ($2 million or $10 million) depending on the branding structure and would tax operators at a 30.5% rate. However, the number will be lower, as there is some overlap between casino operators and licensed sportsbooks, and both racinos are in the running for a downstate casino license.

Three additional licenses would be made available through a competitive bidding process.

Licensed sports betting operators (nine: FanDuel, DraftKings, Caesars, BetMGM, BetRivers, PointsBet, BallyBet, WynnBet, and Resorts World Bet).

Racetracks (two: Empire City and Resorts World).

Tribal casinos (three tribes: Seneca, Oneida, Mohawk).

Commercial casinos (four upstate and three downstate).

Under the bill, SB 4856, licenses would be reserved for: Chris Grove FebruUnder the Hood of SB 4856

NYC casino bids will crowd out everything. iCasino almost never gets done first shot, so every year with a bill represents progress.Ĭhances to pass this year? Slim to none, overweight on none.

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