NY iGaming bill SB2614 would establish the largest online casino and poker market in the United States, opening access to 20 million residents. Senator Joseph Addabbo Jr. filed the legislation, his third attempt to expand online gambling following NY’s successful mobile sports betting launch in 2022.
Licensed operators would gain authorization to provide online table games, slots, poker, and live-dealer options under the proposed regulations. The bill positions NY to join the established iGaming markets of New Jersey, Pennsylvania, and Connecticut. Operators face a 30.5% tax rate on gross gaming revenue plus substantial licensing fees, while the legislation mandates specific consumer protection requirements.
Key Provisions of NY iGaming Bill SB2614
NY iGaming Bill SB2614 spells out licensing fees and operational rules for online casino operators. Casinos and video lottery facilities must pay $2 million for licenses, while platform providers face $10 million fees. Each license runs 10 years from issue date.
The bill sets a 30.5% tax on gross gaming revenue, funding state education through the Lottery Fund. Problem gambling programs receive $11 million yearly. Another $25 million supports employee training and responsible gaming education.
Gaming servers must operate from licensed NY facilities. Live dealer studios can run anywhere within state lines. Operators face several requirements:
- Labor agreements with gaming workers
- 48-hour complaint response windows
- Age checks for all players
- $2,500 yearly credit card deposit limits per user
Each license allows one branded platform or “skin”. The NY State Gaming Commission runs oversight, with operators launching within 120 days of the effective date. The commission handles all licensing and compliance matters.
Consumer Protection Measures
NY iGaming bill SB2614 puts player safety first with strict rules for responsible gaming. Operators must provide self-exclusion options and deposit limits to protect users.
Responsible Gaming Initiatives
Each gaming site needs dedicated pages showing policies, risks, and player-set limits. Players hitting $2,500 in lifetime deposits see their wagering paused. Play resumes only after they review problem gambling resources and confirm the threshold.
Age Verification and Security Protocols
The bill limits play to users 21 and older. Gaming sites must verify player location within NY borders while protecting user data. Security measures cover:
- Account verification checks
- Privacy protection systems
- Location tracking tools
- Activity monitoring
Problem Gambling Prevention Programs
$11 million yearly funds problem gambling education and treatment. Gaming operators submit yearly plans to both the Gaming Commission and Office of Addiction Services. Plans must detail how sites spot at-risk players and block underage gaming.
The Gaming Commission’s Responsible Play Partnership works with addiction services to prevent problem gambling. Staff training focuses on spotting concerning behaviors and offering help.
Economic Impact Analysis
NY online casino tax revenue projections range from $1.5 billion to $3 billion yearly. These figures triple current sports betting numbers.
Projected State Revenue Generation
Total gaming revenue looks to hit $11.3 billion by 2029, jumping 177.4% from today. Brick-and-mortar casinos should grow from $4.1 billion to $6.8 billion between 2024 and 2029. Online casino revenue starts at $2.5 billion year one, reaching $4.5 billion after five years.
Job Creation Opportunities
Online gambling brings 1,660 new jobs to NY. Job types include:
- Live dealer tables
- Player support teams
- Marketing specialists
- Tech infrastructure staff
Total gaming jobs jump from 23,802 to 40,612 by 2029, counting supply chain and consumer spending effects. New casino builds add 18,000 to 25,000 temporary construction jobs over 18 months.
Market Size and Growth Potential
Land-based casino staff numbers climb from 7,897 to 13,475 between 2023 and 2029. Market size swells $7.2 billion over five years, backed by NY’s massive player base and proven sports betting success.
Implementation Timeline and Challenges
NY Gaming Commission faces a tight schedule to launch online casino gaming. Rules need completion before July 1, 2025, giving operators 120 days to start after the bill takes effect.
Technical Infrastructure Requirements
Server placement rules top the technical checklist. Gaming servers must sit inside licensed NY facilities. Operators need geolocation tools marking tribal boundaries. Live dealer studios stay in NY but can run outside casino walls.
Regulatory Framework Development
Gaming Commission staff must craft rules within 120 days of bill passage. Quick turnaround times matter – the commission gets 90 days to approve operator applications. Operators tackle several duties:
- Five-year transaction record keeping
- Real-time game monitoring
- Customer complaint systems
- Worker agreements
Industry Readiness Assessment
Success hinges on operator preparation and paperwork. Tribal gaming groups need special commission agreements for online play. Labor deals stay crucial, especially for live dealer rooms.
Conclusion
NY iGaming Bill SB2614 charts fresh territory for online casino gaming in the state. The bill balances money-making potential with player safety rules, putting NY on track to lead U.S. online gaming markets.
Numbers tell the story – yearly tax money between $1.5 billion and $3 billion heads to state coffers. Job growth looks strong too, with 1,660 new positions growing into 40,612 total gaming jobs by 2029. Player protection stays front and center, backed by $11 million yearly for problem gambling programs.
July 2025 marks the key deadline for getting systems and rules ready. NY’s mix of strict operating standards, player safeguards, and business opportunities sets up a stable gaming market that works for everyone.
FAQs
Q1. What is the NY iGaming Bill SB2614?
The NY iGaming Bill SB2614 is proposed legislation that aims to legalize and regulate online casinos and poker rooms in New York State. It includes provisions for licensing, taxation, consumer protection, and responsible gaming measures.
Q2. How much revenue is expected from online gaming in New York?
The state anticipates annual tax revenues between $1.5 billion and $3 billion from online casino operations, with the combined land-based and iGaming revenues projected to reach $11.3 billion by 2029.
Q3. What consumer protection measures are included in the bill?
The bill mandates responsible gaming initiatives, strict age verification protocols, and problem gambling prevention programs. It also allocates $11 million annually for problem gambling education and treatment.
Q4. How will the iGaming industry impact job creation in New York?
The expansion of iGaming operations is projected to create at least 1,660 new direct positions in New York, with the total local market impact expected to increase from 23,802 jobs in 2023 to 40,612 jobs by 2029.
Q5. What are the key challenges in implementing iGaming in New York?
Implementation challenges include developing technical infrastructure, establishing a comprehensive regulatory framework, and ensuring industry readiness. The Gaming Commission must establish guidelines by July 1, 2025, and operators must comply with strict technical and operational requirements.
