Zona de Azar USA – Online Poker Law May Change in New York

USA.- May 17, 2024 www.zonadeazar.com  Bill SB9226, introduced by Senator Joseph Addabbo to the New York Senate, seeks to allow the New York State Gaming Commission to grant licenses to selected operators to make games available online poker games such as ‘Omaha Hold’em’ and ‘Texas Hold’em’, games that require considerable skill.

Poker is not a game of chance but a game of skill

The recently presented document classifies poker as an activity that depends on skill, not luck, therefore modifying the current legislation on racing and multiple bets.

According to the text, up to ten authorizations would be granted for the management of poker platforms on the internet, with a tax of 15% on gross revenue for the public gambling fund. In addition, the value for obtaining the license would be 10 million dollars, valid for a decade. During the first five years of operation, operators could deduct this cost from taxes owed.

This initiative comes to light after the lack of support for a previous proposal, endorsed by a senator, which aimed to regularize online casinos and virtual poker, which did not receive sufficient support in January of this year.

Proposal could generate more than 100 million in taxes for New York

Addabbo highlighted that allowing online poker in New York would create a safe space for players, with support available. He also mentioned that the measure would generate new state revenue through taxes and licensing costs. The senator pointed out that the proposal could result in a tax benefit, with the possibility of raising up to US$100 million in licensing fees and between US$2 million and US$5 million in taxes per year. For the law to come into effect, it will still need approval from Governor Kathy Hochul.

Edit @_fonta   www.zonadeazar.com