New York State Proposes Online Poker Regulation

Published Monday, March 31, 2014 - Online-Casinos.com
New York State Proposes Online Poker Regulation

The State of New York is finally coming into the age of gambling with the government’s reaction to the vote it took on the expansion of gambling in the third most populated state in America. New York is also moving on online gambling in the form of internet poker.

Proposed legislation was introduced into the New York Senate recently, that calls for the legal authorization of online poker. The game is considered one that requires skill. The move also wants  to see10 licenses awarded to operators.  Each license has the shelf life of ten years, a will cost $10 million per permit. Revenues would also be subject to taxes, which would be set at 15 percent should the bill receive approval.

Text of the proposed legislation was to the point, a segment read, “ as the Internet has become an integral part of society, and Internet poker a major form of entertainment for many consumers, any interactive gaming enforcement and regulatory structure must begin from the bedrock premise that participation in a lawful and licensed gaming industry is a privilege and not a right, and that regulatory oversight is intended to safeguard the integrity of the games and participants and to ensure accountability and the public trust.”

Texas hold’em and Omaha are to be offered with the addition of other forms of poker the state authority authorizes.  Games that are pure chance will not the on the play list. With the addition of New York in the online poker world the teaming up with New Jersey and Delaware and Nevada could create a proper liquidity pool for players.

The established online poker operators already in the USA will likely be first to bid on the new licenses. The Empire State as mentioned is the third most populated in the States with 20 million people the poker games could be enormous and the revenue substantial.

 

 

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