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New York to Cash In with its Online Poker Bill
May 16, 2014
New York to Cash In with its Online Poker Bill
By: Ifrah Law
Introduced as “S 6913” on March 29, 2014, New York’s online poker bill will allow for poker only, both cash and tournament play.
The bill allows New York to enter into liquidity-sharing arrangements with other states. As of now, the bill authorizes 10 online poker licenses that are good for 10 years. The licensing fee is $10 million and the tax rate is 15% of gross gaming revenue. The licenses are intended to be issued no earlier than 180 days after regulations are final. The commission must ensure standards regarding consumer privacy, age and geo location issues.
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