A new bill aiming to legalize and regulate online poker has been introduced in the New York State Senate. Currently under review by the Senate Racing, Gaming, and Wagering Committee, the bill is poised to advance to the New York State Gaming Commission pending approval.
Introduced by New York Senator Joseph Addabbo, the bill seeks to license and regulate various poker variants, including online Omaha Hold'em and Texas Hold'em, within the state. Addabbo argues that poker is primarily a game of skill rather than chance, prompting proposed amendments to existing laws governing horse racing, betting, and sports betting.
The proposed legislation outlines provisions for up to ten licenses to operate online poker platforms, subject to a 15% income tax rate payable to the state commercial gaming fund. License applicants would be required to pay a $10 million fee, valid for a ten-year period. This fee would be offset against taxes accrued in the initial 60 months of operation.
