The New York State Senate has received a bill regarding online poker.
Introduced by Senator Joseph Addabbo, SB9226 proposes to “authorize the New York State Gaming Commission to license certain entities to offer to the public certain variants of online gambling that require a significant degree of skill, specifically ‘Omaha Hold’em’ and ‘Omaha Hold’em’. Texas Hold’em.’”
Poker is not a game of chance but of skill
The text also defines poker as a game of skill, not chance, thus changing the law of races, multiple bets and reproduction.
Thus, the project authorizes up to ten licenses to operate online poker, with a tax rate of 15% on gross revenue allocated to the state commercial gaming fund.
Thus, the license fee would be US$10 million and valid for 10 years. Operators will apply this fee as compensation for taxes paid in the first 60 months of operation.
The proposal comes after a previous bill supported by the senator on online casino gaming and online poker did not receive sufficient support in January this year.
Proposal could generate more than 100 million in taxes for New York
As for the justification, Addabbo stated that legalizing online poker would provide New York residents with an environment to play where they are protected and have access to help.
Additionally, the senator said online poker would create additional revenue for the state from taxes and licensing fees.
The lawmaker noted that the bill would have a positive fiscal impact, generating up to $100 million in licensing fees and $2 million to $5 million in tax revenue annually.
If the project advances in the Senate, it will still need the approval of Governor Kathy Hochul Hochul before it comes into force.