Online gambling bill introduced in New York Senate

The new Chair of the Senate Racing, Gaming and Wagering Committee, New York Senator Joseph Addabbo introduced State Senate Bills 17 and 18 this week.

Bill S17 is an act to amend the racing, pari-mutuel wagering and breeding law, in relation to regulation of sports betting and mobile sports wagering.

The bill proposes an eight and half percent tax on sports wagering gross revenue; requires reporting; bans betting on high school athletic events; institutes a royalty fee of 0.2 percent of handle to the State for sports governing bodies; and provides for civil penalties for violations.

A summary of the bill may be read here.

S18 is a bill that allows certain interactive poker games be considered games of skill rather than games of luck; includes definitions, authorization, required safeguards and minimum standards, the scope of licensing review and state tax implications; makes corresponding penal law amendments.

S18 allows for the issue of up to 11 interactive gaming licenses. Each 10-year license will cost $10 million which will be applied as an offset against the taxes paid over in the first sixty months of operation.

A tax of 15 percent will be payable on gross gaming revenues to the state which will be paid into the state lottery fund for education.

The bill blocks companies who operated in the US market after 31 December 2006 from applying for licensing.

A summary of the bill can be read here.