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Erik Seidel

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  • Home Online Poker Bill hearing in New York

Online Poker Bill hearing in New York

Erik Seidel

Empire State lawmakers, on Tuesday, would talk about a bill on the table which would legalize as well as regulate up to ten online poker sites.

The Racing, Gaming and Wagering Committee of the Senate would talk about the legislation which was proposed by State Sen. John Bonacic. Another proposal was brought in the State Assembly just previous week.
The bill put forward by John Bonacic had a hearing in September, but there was not a vote. The other bill, introduced by Assemblyman Gary Pretlow, did not go through a hearing process in the gaming committee of the Assembly. A public discussion on it has not yet been planned.
The online poker market of New York could be worth over US$ 120 million in the first twelve months after it was introduced, as per a testimony at last year’s hearing. Both proposals are eyeballing a tax rate of fifteen percent on online poker runners, who would also have to give US$ 10 million for a ten year license.
The 2nd February hearing, which would be streamed live from Albany, comes as neighboring state Pennsylvania also thinking of online gaming as well as other states in the region are strengthening their respective gambling companies. New York handed many licenses last fall for commercial brick-and-mortar casinos. Already, the state has tribal casinos as well as racetracks.