iLottery coming soon to NY? Lawmakers propose legalizing online gambling
New York lawmakers are revisiting the idea of legalizing interactive gaming (iGaming) and iLottery. The proposal seeks to legalize online casino table games like poker, blackjack, and roulette. The initiative is seen as a starting point for discussions on generating new revenue streams for the state.
Supporters estimates that iGaming and iLottery could collectively generate around $1 billion annually, money that New Yorkers currently spend in neighboring states where these activities are legal. With a proposed tax rate of 30.5% and a $2 million licensing fee, the plan is viewed as a potential solution to New York’s projected fiscal deficits in the coming years.
The proposal includes measures for responsible gambling, with $11 million annually allocated for addiction services and supports. It also aims to protect union casino jobs, proposing a fund of at least $25 million annually for worker training and support.