Sen. Joe Addabbo has introduced a bill amendment to expand daily fantasy sports in New York.
Bill S8628 would allow DFS platforms that were not operating in the state prior to Nov. 10, 2015, to apply for temporary permits in order to operate in the state pending approval by the New York State Gaming Commission.
“Obviously New York is a lot different than it was in 2015 when (former Sen.) Bonacic and that legislative body did their bill,” Addabbo said. “There were only two operators (FanDuel and DraftKings) then, and I just think there’s certainly a market for more operators now.”
Details of DFS bill in Senate
Currently, the NYSGC already allows for DFS operators to seek temporary permits. As it stands, any entity that offered DFS in New York prior to Nov. 10, 2015, are eligible to apply.
Addabbo’s proposal would essentially allow any other DFS operator to request temporary licensing. Even if they never offered fantasy sports in the Empire State to begin with.
This would be a standalone bill that Addabbo would try to get through after the April 1 state budget, with state legislative session running until June.
Additional operators could lead to more tax revenue for educational funding.
As per the 2015 bill language, according to Addabbo, New York daily fantasy sports operators pay a 15% tax rate on total gross gaming revenue (GGR).
New York DFS gets new life after favorable ruling
Daily fantasy sports was deemed constitutional in the state by the New York Court of Appeals on Tuesday following a long and arduous legal battle.
Essentially, DFS earned the definition — under the 2016 law — as a game of skill as opposed to a game of chance, such as gambling.
Currently, 15 DFS operators have obtained temporary permits to offer fantasy sports in New York:
- DraftKings
- FanDuel
- Yahoo
- Fantasy Draft
- Draft
- Synkt Games, Inc. d/b/a letsRUMBL
- Fanamana, Inc.
- DataForce, LLC
- RealTime Fantasy Sports
- For Players By Players
- Vauntek, Inc.
- Sports Hub Technologies
- MastersFantasyLeagues.com
- Boom Fantasy
- Fulltime Fantasy Sports, LLC
Two other major gaming issues — the three downstate casino licenses and the minority inclusion/online sports betting operator expansion — await their fates as part of the negotiations as the April 1 deadline nears.
