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New York is looking for more ways to harvest revenue, and legalizing online casino offerings seems to be the way forward. On February 3, 2023, a bill was introduced to Congress to decriminalize interactive gambling. 바카라사이트 The introduction is expected to overshadow the performance of the mobile sports betting market, which already generates millions of dollars in revenue.
According to Senator Joseph P. Adabbo Jr., D-Ozone Park, legalization of online casino games in the state will result in more total annual game revenue than online sports betting. In contrast, the digital sports book generated about $1.4 billion in GGR in its first year of release, which translated into slightly above $700 million in tax revenue under a 51% tax rate.
But for online casino offerings to become a reality, Empire State lawmakers will have to approve them. In light of this, on Friday, February 3, 2023, Rep. J. Gary Pretlow introduced Bill A3634. If passed, retail casinos could team up with two websites to allow up to 14 online casinos in the state.
Under the current mobile sports betting model, four Upstate casinos are working with nine mobile sports books in the state. Meanwhile, the state is in the process of reviewing applications for the remaining three commercial casinos in the Downstate area. Once all seven casinos are up and running, you can team up with two casinos each.
It should be mentioned that Mr Pretlow is the chairman of the Commission and his Bill is currently awaiting review. The bill will join a previous bill to legalize online poker in states introduced on January 17, 2023. The recently proposed action on online casinos and digital poker applies tax rates of 25% and 15%, respectively.
As iCasino's legalization proposal advances, lawmakers will have more questions and concerns about the potential to damage the land-based casino business. This was an issue raised by R-Canada Igua State Senator Pamela A. Helming during a public hearing on January 31, 2023. That's why Senator Adabo proposed a committee hearing for lawmakers to discuss the issue.
However, with the recent development of online gambling at Empire State, more and more young people have reported compulsive gambling habits. This was recently reported by the New York Problem Gambling Commission, which claims that the population aged 18 to 24 is now effectively morbid gamblers.
The committee's experts inform that since mobile sports betting became legal, the committee's recommended network phone lines have recorded a 25% increase in calls seeking help. The organization also suggested that 3% of online gaming revenue should be used or about $21 million should be set aside for services for problem gambling.