A new bill has made it’s debut in the legislation and it aims for the legalization of the Online Poker in the New York.
If passed, the bill would allow the people within the state borders to play poker online. It is not yet specified whether it would be available across all the means of accessing the applications like desktop, mobile and tablet etc. However one thing is dead sure, if it’s passed then it’s gonna be fun.
Even if the bills get’s passed today, it will take 180 days for it to come into play. no new licenses would be given before the course of 180 days.
After those 180 days would over, we would see some online poker investors rushing in.
However the bill has specified some of the requirements for the investors or more precisely those who are looking for an operative license.
The requirements for obtaining a license goes as follows,
Those who already hold a licence to offer video lottery gaming and have some experience of interactive gaming.
A privilege tax of 15% would be considered from the gross revenue made through the interactive gaming. This tax, as well any funds derived from penalties imposed by the Commission, would be paid into the New York state lottery fund.
The Commission would also consider applicants that hold a licence to operate a Class III gaming facility in the state, while licensed applicants would be able to form a partnership with another company to offer online poker.
In order to get hands on the license for operating the online poker, the operators would need to pay a one-off fee of $10m (£7.7m/€8.8m), with each online poker licence running for 10 years.
The operators who are lucky enough to get an operating license for operating the online poker in the New York must have to provide the adequate safeguarding measures.
These safeguard measure include
Ensure that each and every player who gets involved with the online poker with the help of their platform is of legal age
The player needs to be residing within the state borders. This is to ensure no outside players hoops in.