New York State Senate passes budget with online sports betting measures

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Sports betting regulation “This brings us one step closer to giving people a way to responsibly, legally and safely place bets from anywhere in New York.” The budget reflects many of the stipulations published earlier this week in the State Assembly’s proposed budget, including a $12m licensing fee for the operation of mobile sports betting, to be secured through one of New York state’s land-based casinos. For land-based sports betting, the Senate has proposed a tax rate of 8.5% of GGR, while for mobile a tax rate of 12% is proposed, as was also recommended by the State Assembly in its budget proposal. State senator Joseph Addabbo Jr., a long-time supporter of the introduction of sports wagering to New York, commented on the proposal. Regions: US New York Read the full story on iGB North America. Subscribe to the iGaming newsletter New York State Senate passes budget with online sports betting measures Topics: Legal & compliance Sports betting Licensing Regulation Online sports betting Retail sports betting Sports betting regulation Sportsbook Tags: New York Gaming Commission New York State Senate In addition, it has passed a proposal to include a “sports wagering royalty fee” of 0.2% of the total amount wagered, to be remitted to the gambling regulator. The New York State Senate has passed its 2021-22 state budget proposal, which includes provisions and requirements for the operation of mobile sports betting in the state. 17th March 2021 | By Conor Mulheir “I appreciate the efforts of my Senate colleagues and staff for all the work that produces the Senate One-House Budget, especially in terms of including mobile sports betting and the expediting process for New York State’s three unused downstate casino licenses,” he said. Email Addresslast_img read more

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