Since legalizing online sports betting in 2022, New York has continued to lead the gambling scene in America, not just as a state willing to expand its gambling rules to accommodate the growing industry, but also as one that seeks digital innovation within it. New York is one of the most lucrative locations for gambling operators in the country, as well. It set new national records between April 2024 and March 2025.

According to the New York Gaming Commission, New York residents spent about $23.94 billion on sports betting, a new record both in the state and nationwide, which led to a 21.6% increase in its gross gaming revenue within the same period. Given the significant revenue the state earns from sports betting, New York lawmakers have renewed efforts to legalize online casino and poker games. In the meantime, many gamblers turn to offshore sites that offer a wide range of casino games. These sites often attract users by allowing them to play anonymously, as they typically skip Know Your Customer (KYC) checks during registration.

(Source: https://coinpoker.com/online-poker/offshore/)

Sen. Joseph Addabbo Jr. Introduces Senate Bill 2614 To Legalize Online Gambling

Despite the lucrative state of the New York gambling industry, the state has yet to provide a regulatory framework for iGaming. To address this, Senator Joseph Addabbo Jr. has introduced SB 2614, although this isn’t the first attempt at pushing a bill to legalize online gambling.

The bill would update New York’s Racing, Pari-Mutuel Wagering, and Breeding Law, while making provisions for live dealer games, table games, slot games, and peer-to-peer poker in the state. The bill states that operators would pay a licensing fee of $2 million, while contractors of branded gaming platforms would pay a licensing fee of $10 million. There will also be a 30.5% tax on the revenue generated from licensed operators.

The current version of the bill doesn’t state if New York casino operators can enter interstate gambling agreements such as the Multi-State Internet Gaming Agreement, which allows gaming operators to create poker rooms and tournaments that could attract players from other states. For New York, interstate gambling agreements have a lot of benefits, even Sen. Addabbo has spoken about their benefits, but supporters of the bill have to wait to see if future versions of the bill will be adjusted to contain these provisions.

Sen. Addabbo and other supporters of the bill believe the state can also benefit from the jobs and revenue that regulated online gambling will bring. However, opponents of the bill say it would affect the growth of land-based casinos, as many customers will prefer to play casino games from the comfort of their mobile devices. Union groups have also expressed their resentment towards the bill, which has made the legislative process difficult for the Senate.

Despite the debate on whether or not the bill should be passed into law, it shows that New York is open to the idea of expanding its laws to accommodate online gambling and follow the trends in the gaming industry.

New York Finalizes Plans For Licenses and Minimum Capital For Downstate Casino Bids

While New York listens to debate on its bill to legalize online casinos, the state’s Gaming Facility Location Board (NYGFLB) has finished the groundwork for three of its downstate casino licenses. In a meeting that lasted ten minutes, the Board finalized talks on two major details for its downstate licenses.

The board unanimously agreed on a $500 million licensing fee, which will be paid within 30 days of receiving the license, and a $500 million minimum capital investment. With these details ironed out, the Board is showing that it wants to attract only serious and financially robust bids. Applications are open till June 27, then by December 1, it will select the winning bids before granting licenses on December 31, 2025.

Applicants should note that they have a few requirements to meet, such as zoning and environmental reviews, before their bids can be considered. Apart from the financial requirements, casino operators need to secure endorsement from their local community. This means setting up a community advisory committee (CAC), which will be made up of local leaders.

These requirements must be met by September 30, which creates a very tight deadline for many projects. So far, Bally’s Bronx bid has gotten approval for rezoning from the city council and state legislature, while others like Thor Equities’ Coney Island project and other Manhattan bids wait for the de-mapping approval and the completion of their environmental review.

Having set the necessary details to kickstart bids for its downstate casino licenses, New York needs to ensure that there is a balance between creating a vibrant business environment for casinos and taking advantage of the business potential of these casinos.

New York Senate Passes Bill Targeting Sweepstakes Casinos

While New York is working towards legalizing online casinos, it has also maintained a firm stance against online sportsbooks and sweepstakes casinos, which it perceives to be part of illegal gambling activities. Interestingly, the bill, SB 5935, is also sponsored by Sen. Addabbo, who has been active on several fronts related to gambling regulation in the state, including recent changes to electronic bell jar laws.

The bill got a 57-2 vote from the Senate and has been sent to the State Assembly for more review. If the bill is passed into law, it would stop all sweepstakes games that give redeemable virtual currencies or imitate casino-style gambling from operating in the state. There are also fines ranging from $10,000 to $100,000 for violators. Also, any licensed organizations like banks, operators, and media platforms caught breaching the law could lose their gaming licenses.

This move follows an earlier ruling by New York Attorney General Letitia James, who issued 26 cease-and-desist orders against platforms involved in sweepstakes gambling. The office of the Attorney General issued a statement emphasizing that New York bans online gambling platforms from issuing redeemable virtual coins or any other thing of value that can be converted to cash or other prizes. The platforms involved agreed to stop selling virtual sweepstakes coins to customers.

The chair of New York’s Gaming Commission also commented on the ruling, stating that he was happy to see the Attorney General taking active steps to control the unregulated gambling market. Sen. Addabbo Jr. added that most of the sweepstakes casinos don’t have the safety measures that most of the licensed sports betting or iGaming platforms in the state have. He stated that SB 5935 doesn’t stop retailers like Jersey Mike’s or Starbucks from running traditional sweepstakes promotions; however, it targets those that simulate casino-style gaming or give out prizes that can be converted in real-time.

Conclusion

As the state prepares for the launch of its regulated iGaming market, lawmakers are doing their best to come up with regulations that will help safeguard citizens and give structure to the industry.

The Senate has already passed a bill to regulate sweepstakes casinos while listening to debates on a proposal to legalize online casino and poker games. Critics are worried about how legalizing online casinos will affect land-based casinos, but there’s the belief that New York will benefit in the form of job creation and tax revenue. There is no final decision on the bid yet, but the recent developments from the state show that it wants to lead the gambling industry in the U.S as a model for responsible gaming.