New York’s S4856 Would Legalize Online Domestic Casinos For 18+ Players If Passed

New York Senator Joseph P. Addabbo Jr. recently introduced State Bill 4856, which seeks to legalize online gambling, or gaming, to generate more revenue for the state.

The bill is all-inclusive and seeks to allow online table games, slots, and live dealer games. Online poker is not included in S4856, but another bill was introduced in January that seeks to legalize and tax online poker. S4856 would imply a tax rate of 30.5% on all online casinos operating from inside the state.

18+ online casinos are already allowed in the Empire State, but only those operating outside the state. There are currently 15 domestic casinos in New York, but several players are lobbying for an NYC casino license.

Online Sports Betting Tax In New York

Online sports betting was recently introduced at a 51% tax rate, causing operators to lobby for other gambling revenue opportunities that could lower the tax rate on sports betting.

DraftKings CEO Jason Robbins and FanDuel President Christian Genetski testified at a NY senate hearing to lower the 51% tax rate as it is by far the highest in the country. During their testimony, both juggernauts asked to legalize iGaming to compensate for lowering the sports betting tax rate.

How Likely Is S4856 To Pass The State Senate?

Despite the overwhelming support for a new iGaming bill Governor Kathy Hochul did not include provisions for an iGaming tax in her recent budget proposal for 2024. While that inclusion does not necessarily mean she will veto the bill, it does mean that legal iGaming will face an uphill battle as it tries to pass into law.

18+ Casinos Available In New York State

As we mentioned above, there are already out-of-state 18 and over casinos operating to New York residents, but the options are limited as some online casinos have opted out of the New York market due to legal concerns.

The best online NY casinos currently offer all kinds of perks for playing online. Some of the best online casino sites currently provide sign-up bonuses, reload bonuses, crypto bonuses, and more. To make things even sweeter, many sites we recommend accept popular digital currencies such as Bitcoin, Litecoin, Ethereum, and more.