NY Online Casino Push Begins: Addabbo Bill Sets High Tax Rate, Strong Gaming Safeguards
January 24, 2025
Senator Addabbo has introduced his iGaming bill, S2614.
Under S2614, eligible iGaming licensees include casinos, VLT facilities, Indian tribes, and online sports betting providers.
- Labor peace agreement required as a condition of licensure
- 30.5% tax rate
- $2m/$10m license fee
- 1 online brand (skin) per licensee
- License duration of 10 yrs
- Live dealer games included, but studio must be physically located in New York
- Promotional bet deductions capped at 1.75% after Y1
- Online account registration allowed
- $2,500 annual limit on credit card funding
- Daily, weekly & monthly self-exclusion limits
- Once an account holder’s lifetime deposits exceed $2,500, licensee must bar further wagering until additional disclosures and acknowledgments are made concerning problem gambling resources.
- Licensees must also annually submit problem gaming plan to be approved by the NYS Gaming Commission.