Online Gambling News Coming Out of New York

In January, New York opened its online sports betting windows to residents in the state. Within a week or two, it became very clear that New York was going to supplant New Jersey as the top sports betting state in the U.S. That became a reality, pushing NY to the forefront of the U.S. online gambling community.

In spite of its leadership in the sports betting realm, there is still work to be done for online casino and poker players. As of yet, the NY state legislature has been unable to come to an agreement on online/mobile casino/poker legislation.

Just this past week, several pieces of gambling legislation made it out of the New York Senate’s Racing, Gaming and Wagering Committee. The three bills that could be moving to the Senate floor are S8412, S8471, and S8801. Before these bills get to the Senate floor for debate and voting, they will each need to pass through the Senate’s Finance Committee. Why? Each of these bills would affect the way the state uses gambling-related tax revenue.

About Each Bill

It's not surprising that Sen. Joseph Addabbo, who chairs the Racing committee, is the chief sponsor for each of these pieces of legislation. Remember, he was the primary catalyst who finally brought legalized mobile sports betting into the homes of New York sports bettors.

For quick reference, here is some information about each of these bills:

S8412: This bill proposes the legalization of online poker playing with 25% of the proposed tax revenue going to the state.

S8471: This bill would authorize an increase of sports betting operator licenses to 16. If that were to take place, the state's sports betting-related tax revenue would drop from 51% to 25%.

S8801: This bill proposes to drop the tax rate on retail slot revenue that Tioga Downs pays from its upstate facility.

While none of these bills directly mention the legalization of online casino gambling, the online poker bill could certainly move the legislature in that direction.

At this time, there is no timeline for any of these bills to be taken up by the finance committee before moving to the Senate floor.

New York Yankees Up Sponsorship Deal With Fanduel

While other New York sports franchises (Brooklyn Nets, Buffalo Bills, New York Islanders, New York Knicks, and New York Rangers) have already signed major sports betting deals with top U.S. online gambling operators, the New York Yankees needed a little more time. After all, they are the Yankees, the most renowned sports franchise in the world.

They may have been late to the party, but the Yankees have officially signed a major sponsorship deal to become an official partner of Fanduel.

In exchange for the sponsorship revenue that will be provided by Fanduel, the top U.S. sports betting operator will get signage priveledges at Yankee Stadium and “premium VIP hospitality accommodations" inside of the facility during the MLB season and special events. Note: This is a new deal that replaces a prior deal made while Fanduel's platform was solely focused on Daily Fantasy Sports.