Quote:
Originally Posted by whitemares
Do you have a source for this figure?
Not a source as such, just that licenses cost $10 million each and taxes due on GGR can be written off against the license fee for the first three years (maybe five years, not sure).
Anyway, NY can´t support more than three online poker sites, so the state is going to draw in $30 million in license fees and likely little else over the next few years.
I think my "projections" are a little more accurate than those of Gambling Compliance ($122 million in Year One, rising to $164 million by Year Four) and any of the other so-called experts.
WRT expenses, there are bound to be some - plus all the "good causes" putting their hands out for a cut of the action. We´ve seen that in PA with the Department of Drug and Alcohol Programs being given a blank check for a presumed increase in gambling addition. No doubt the good causes in NY will not want to miss out on the opportunity (note: I appreciate these bodies do an admirable job with limited resources to deal with a serious problem, but if you can already bet online in NY/PA/IL/CA, how is regulation going to cause an increase in gambling addiction?).
So @BillyPreston, I don´t know how much regulation is going to cost. I agree with you that the bill will probably run out of time or run into too many problems to be resolved in the time available. WRT DFS, I feel that was a different ball game because Fan Duel is a NY-based company.