{"id":6475,"date":"2024-01-18T07:39:02","date_gmt":"2024-01-18T07:39:02","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/01\/18\/new-york-executive-budget-deals-setback-to-online-casino-legalization-efforts\/"},"modified":"2024-01-18T07:39:02","modified_gmt":"2024-01-18T07:39:02","slug":"new-york-executive-budget-deals-setback-to-online-casino-legalization-efforts","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/01\/18\/new-york-executive-budget-deals-setback-to-online-casino-legalization-efforts\/","title":{"rendered":"New York Executive Budget Deals Setback to Online Casino Legalization Efforts"},"content":{"rendered":"<div>\n<p>The recent release of New York Governor Kathy Hochul\u2019s executive budget for 2025 has clouded the prospects for the state\u2019s legalization of internet casinos. Similar to the previous year\u2019s budget, the removal of possible tax income from the growth of online casinos deals a serious blow, especially to Senator Joseph Addabbo\u2019s Senate Bill S8185.<\/p>\n<p>Senator Addabbo has been pushing Governor Hochul to endorse the law, although it is unclear how feasible the idea is if there is no money from internet casinos included in the budget. The executive budget extends current parimutuel tax rates and simulcast modifications through Fiscal Year 2025, with a primary focus on gaming components related to horse racing.<\/p>\n<p>The policies pertaining to horse racing are included in Governor Hochul\u2019s budget, which sheds light on her ambitions in the gaming industry. Interestingly, the budget gives some off-track betting establishments leeway over how much they spend on capital funds. But Addabbo\u2019s measure, which would have allowed fixed-odds racing in addition to parimutuel betting at tracks, was left out, which begs concerns about the bill\u2019s future viability.<\/p>\n<p>The assessment of possible applicants for the three downstate casino licenses is one of the governor\u2019s current gaming-related duties. In addition, talks to renew the agreement between the state and the Seneca Nation are now underway. The current compact has been temporarily extended until March 31.<\/p>\n<p>The future of online gaming in New York is questionable due to the removal of measures pertaining to online casinos, especially as the deadline for the final budget agreement, March 31, draws near. After the state\u2019s successful sports betting program, proponents have stressed the potential income benefits of internet gambling; yet, the lack of consideration for this type of gaming points to a difficult way ahead.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/sbet\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Sportbet\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/12\/250x250-sportbetone.png\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/sbet\/\" title=\"Sportbet\" target=\"_blank\" rel=\"nofollow noopener\">Sportbet<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>175% Extra +<strong> $75 Risk Free Bet<\/strong>!<\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. 17% on 1st Deposit + $75 Risk Free Bet<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino &#038; Sports<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/sbet\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>The proposed tax rate on gross gaming revenue from online gaming is 31.5%, which is lower than the tax rate of 51% on sports betting. However, given the size of New York\u2019s population, the exclusion raises concerns about the state\u2019s strategy for participating in the lucrative online casino industry.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/new-york-executive-budget-deals-setback-to-online-casino-legalization-efforts\/\">New York Executive Budget Deals Setback to Online Casino Legalization Efforts<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The recent release of New York Governor Kathy Hochul\u2019s executive budget for 2025 has clouded the prospects for the state\u2019s legalization of internet casinos. Similar to the previous year\u2019s budget, the removal of possible tax income from the growth of online casinos deals a serious blow, especially to Senator Joseph Addabbo\u2019s Senate Bill S8185. Senator [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-6475","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/6475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=6475"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/6475\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=6475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=6475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=6475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}