Senator Joseph Addabbo Jr. revealed in a recent interview that he is laying the groundwork for casino and online poker's passing in the state in 2023. He believes that the federal pandemic relief will have run out by then. Also, state lawmakers will be more interested in allowing iGaming.
The senator states that iGaming in the region is a matter of when not if. It could pass in 2023 if not this year. Lawmakers recently objected to adding legislation to New York's budget that would have sponsored the casino gaming and online poker bill. Still, Addabbo hopes that they will revisit it next year.
Addabbo stated that odds will improve in 2023 after the federal government ceases or reduces its support to states to curb the spread of the Coronavirus. Besides, the attitude towards expanding gaming might have changed.
The senate recently made a new proposal in the budget that will increase the number of mobile sports gambling licenses to 16 before January 2024. Sen. Addabbo told PokerFuse in an exclusive interview that casino gaming and online poker have a promising future in New York.
What Happened to the S8412 Bill?
The state took two and a half years to allow mobile sports gambling. Addabbo stated that the senate hoped that iGaming would set a firm foundation for it on which it would pass other laws in the future.
Even so, New York takes a while to accept gaming developments. But, it might consider expanding iGaming once Washington stops helping it as it will need educational funds.
Some lawmakers wanted to buy time and see how iGaming would perform in the state. But, many New Yorkers are already hooked on it. They are placing wagers illegally or traveling to other nearby states.
Addabbo argues that the state needs to fully legalize and regulate iGaming to help gambling addicts. Doing so will make it possible to monitor bettors' activities and offer help to those who need it.
New York broke the national sports betting revenue record in January after it generated $1.6 billion despite having four legal bookmakers. The senator added that the legislature isn't sitting back, but it is pondering how it can make iGaming better for New Yorkers.
Addabbo revealed that the Senate Finance Committee told him that broadening mobile sports gambling now will reduce the state's revenue and educational funds. The Senate, governor's office, and Assembly are currently discussing how New York can increase the state's revenue.
Governor Kathy Hochul's Stand About Expanding Gaming in New York
Senator Addabbo believes that Gov. Kathy Hochul is open to new gaming ideas. Her administration has made efforts to promote iGaming in the state and has offered lawmakers an opportunity to create more gaming laws.
Even so, gaming's success will depend on economics. New York is likely to focus more on it once it starts running short of funds.
This has prompted Addabbo to lay the groundwork for the expansion of casino gaming and online poker next year. Even so, operators will have to protect players from fraudsters and pay various taxes on time.