New York Wants to Develop Its Own Online Casino Market

Last month, the US New York state announced about the creation of the first online casino following the launch of sports betting online.

Law Making in the Process

Senator Joseph Addabbo proposed the bill S8412 that states the introduction of the online gambling next to the legislation of horse racing and pari wagering.

If this bill is approved, that will mean that online casinos and tribal nations can start operating online slots and table games which can be played within the state only. This bill has to be legal for 10 years and the new improvements shall be introduced. Also, the operators may use the mobile platforms to perform online gambling with $10 million funding.

Taxation Question

New York, Pennsylvania, and New Jersey as well as Connecticut all launched the online casino gambling can generate to the government over $475 million in taxes and $150 million in licensing fees.

Also, the government proposes to each player to have only one active account within all those legislations. Minors shall be protected from gambling as well as there should be privacy policies, account closure procedures as well as fast exclusions if needed.