New York Poker Revival Looms as Legislative Bill Progresses
Internet poker may make a comeback in New York by year-end if Assemblyman J. Gary Pretlow's bill gets enacted. It's not high on the state Legislature's agenda, but it's being considered.
Pretlow shared his thoughts in a chat, stating, "Playing poker, it's got no math advantage built-in. People believe they're smarter than the person they're playing with, which makes it thrilling."
The bill, identified as A1380, seeks to authorize the New York State Gaming Commission to issue licenses for certain types of online poker, such as "Omaha Hold 'em" and "Texas Hold 'Em." However, progress could be slow due to the gaming commission's focus on issuing three downstate gaming licenses.
Just like Sen. Joseph Addabbo's sports gambling bill, this would bring significant changes to gambling in New York, expanding the options for residents and restricting others.
Relevant: New York's Sports Gambling Law Draft Allows More Operators | Jay-Z Casino Bid for Times Square vs Broadway League Opposition | Potential Changes in New York State Gambling Laws
A hearing today by Assembly/Senate Committees on Racing & Wagering is underway, discussing mobile sports betting's impact on the state budget, with Executive Director of the New York State Gaming Commission testifying.
— Angelo Santabarbara (@AsmSantabarbara) January 31, 2023
The Decline of Online Poker in New York
About 15 years ago, sites like Party Poker were thriving in New York and the US, with the World Series of Poker gaining popularity and Chris Moneymaker's 2003 victory sparking a poker frenzy. The introduction of the hole-card camera didn't hurt either.
PartyPoker's network of operators and massive database from their casino days led to rapid growth, holding around 60% of the market. The World Poker Tour also gained traction, hosting numerous events across the US. Although PokerStars and Full Tilt Poker were making progress, Party Poker still led the pack, generating hundreds of millions in profits yearly for its shareholders.
In 2006, the tide turned with the Unlawful Internet Gaming Enforcement Act (UIGEA) passed by the US Congress, making it illegal for US banks and associates to process gaming transactions. American players rushed to withdraw their balances.
PartyPoker and parent company PartyGaming lost 60% of their value, forcing them to exit the US market. Ever since, poker has been restricted to basements and casinos, although online sports gaming's return in states with online casino gambling exceptions, such as New Jersey, has allowed a small revival.
New York, unfortunately, remains an exception. The state legislature holds up online poker until all three downstate casino licenses are issued, a lengthy process that impedes the transformation of Empire State Casino (Yonkers) and Aqueduct Race Track (Queens) from racinos to casinos. Empire City is owned by MGM Resorts, and Aqueduct by Malaysia-based Genting.
Pretlow is trying to sway legislators to greenlight licenses while disputes over acquiring the third license continue. "We have a billion reasons to get this done swiftly, as each license costs a minimum of $500 million," Pretlow said.
Although the device below appears to be an electronic slot machine, it is not. It's a video lottery terminal.
https://twitter.com/EmpireCCasino/status/1620512124182077441
What Can New Yorkers Do to Advance This Legislation?
They can write a letter to their state assemblyman or senator, call the state legislature in Albany to express approval (518-455-4100), and encourage their poker-playing acquaintances to do the same.
Although these methods might seem outdated, they still work among the demographic most Albany lawmakers identify with. The legislation will become law "when the Senate and Assembly agree and it's the intention of the Houses to pass it," Pretlow explained. "If they decide not to pass it, it's not going anywhere."
Presently, the legislature focuses primarily on the state budget, which takes priority over all other matters. The poker bill is likely to surface for discussion in April and May, given the legislature's sluggish pace.
"I'm disappointed in the speed factor regarding the downstate licenses. We are set to get at least $1 billion, and the third license could bring in a substantial amount more than $500 million," Pretlow said. "A bidder can offer any price they choose. However, with Yonkers and Queens, all the necessary community approvals and environmental impact statements have already been prepared."
Pretlow has convened with digital poker businesses to guarantee fairness and to ensure that manipulative algorithms aren't rigging the games for select players. In his personal space, he indulges in poker games at the Hoyle casino, an establishment that operates without actual money, yet offers a realistic gambling experience.
"I've already amassed over $1 billion, but the cash is just for show," Pretlow stated.
If his bill sails through, poker earnings won't be as phony as those slot machines at Empire City Casino and Aqueduct Race Track. The countdown to reality might be imminent.
Read also:
- Leverkusen claims victory in the cup, securing a double triumph.
- Alonso achieves a double victory after consuming a German brew.
- Does the SVolt factory in Saarland face stability issues?
- Furor surrounding Sylt scandal footage