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Regulated Online Poker One Step Closer To Reality In New York

06/11/2016

Online poker players are currently abuzz with news and information about an online poker regulation bill working it's way through the New York State Senate at the moment. It is a measure that has been attempted before, but has never gotten along this far until now. This is exciting news for the players, but there are still some worries that the legislative session is coming to a close and that this may not get done in time.

The bill passed through committee on a 20-8 vote in favor, however 8 of the "aye" votes were noted as "ayes with reservations". Thus, those members may change their minds and voted against the measure when it comes up for a full floor vote. It is clear that they at least have more to say on the matter.

This legislation is certainly a winner when it comes to generating revenue for the State. As currently written, the bill would require a $10 million licensing fee as well as a 15% tax on the revenues generated from online poker. That alone would produce many millions of dollars from each and every online poker operator in New York. This is all money that the State is currently not receiving from online poker operations that continue to operate despite their disputed legal status.

Recent polling indicates that New Yorkers by in large believe that regulated online poker is a good idea. Those polls show that 71% of residents of the state say that they want to have regulated and safe online poker. They seem to understand that not regulated online poker does not mean that it goes away, but simply that it finds shadier ways to exist. Besides that, even those who do not play the game at all would benefit from the extra tax revenue it would generate.

The final hurdle for this legislation may be the current issue with daily fantasy sports. That is to say that the state has taken steps to bar daily fantasy sports from the state as it is seen as a form of gambling. If online poker gets lumped in with that, it could make for an even tougher road ahead for online poker players in New York.

 
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