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While Sheldon Adelson’s subsidized lawmakers in D.C. are busy trying to destroy internet gambling, one of the nation’s most populous states is moving in the other direction with a plan to legalize and regulate online poker . State Sen. John Bonacic (R-42nd District) introduced a bill this past Friday that would amend the state’s racing and gaming law specifically to allow online poker in New York.
New York online poker Bill IntroducedIf the law were passed it would authorize 10 licenses at $10 million apiece, with each one good for 10 years. Both cash games and tournaments would be permitted, with the bill specifically providing for “Omaha Hold’em and Texas Hold’em poker, as well as any other poker game that the Commission determines is the material equivalent of either of those.” online poker operators in New York would pay a 15 percent tax on their gross gaming revenue, defined as “the total of all sums paid to a licensee from interactive gaming involving authorized participants, less only the total of all sums paid out as winnings to patrons and promotional gaming credits.” Interstate compacts such as the one signed by Delaware and New Jersey earlier this year (and set to go live in June) are specifically permitted.
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New York online poker Bill IntroducedIf the law were passed it would authorize 10 licenses at $10 million apiece, with each one good for 10 years. Both cash games and tournaments would be permitted, with the bill specifically providing for “Omaha Hold’em and Texas Hold’em poker, as well as any other poker game that the Commission determines is the material equivalent of either of those.” online poker operators in New York would pay a 15 percent tax on their gross gaming revenue, defined as “the total of all sums paid to a licensee from interactive gaming involving authorized participants, less only the total of all sums paid out as winnings to patrons and promotional gaming credits.” Interstate compacts such as the one signed by Delaware and New Jersey earlier this year (and set to go live in June) are specifically permitted.
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