NY Bubbles with Activity for Both Sports Betting and iGaming.
On sports, there is an effort to legislatively reduce the current tax rate (51%) that state-authorized operators must pay.
While legislation has yet to be introduced, we understand that it would seek to not only reduce the rate, but also add additional market entrants. This could align with the tax rate matrix released by the Gaming Commission during the RFA process.
Also, Sen. Addabbo introduced a bill to legalize iGaming. The bill can be found here and a summary here.
The immediate goal is to advance iGaming as part of the Senate one-house budget. While inclusion in the Senate budget is possible, there are several hurdles to getting iGaming included in the final bill.
On 03/03 iDEA sent this letter to the Senate Majority Leader urging her to include iGaming in the Senate budget bill.
We are also putting together a legal analysis to validate the constitutionality of online gaming — similar to the successful arguments made for mobile sports betting.