The effort to add iGaming to NY sports betting officially started Wednesday in Albany.
Although FanDuel and DraftKings have not gained any traction in their efforts to reduce the 51% tax rate on online NY sports betting, the Empire State’s biggest operators could benefit from being able to supplement their New York sports betting offerings with a potentially more lucrative online casino business.
Sen. Joe Addabbo’s iGaming bill, S4856, features a 30.5% tax rate.
NY sports betting providers would add casino
Addabbo said during a joint hearing that NY loses “roughly $4 billion” every year it doesn’t legalize iGaming.
All nine NY online sports betting operators would be granted a license to conduct online casino gaming.