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rkskipster
11/13/2013
5:13:52 AM
jeff , Any idea what the effect on NHplay will be , since my jack ass governor in NY signed that law. no rebates , shut down , no effect? Also did HANA contact any NY officials ,and if you did what bs did they spiel . First he sells us central nyers out on the casinos, then this. Rant Over-- Rick-- as always thanx in advance--- any other new Yorkers feel free to chime in

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Acorn54
11/13/2013
7:23:24 AM
hi rksipster
just woke up and saw your message. not a good start to my day
excuse my ignorance on this.
was not aware of it, although I voted against the casino bill.
here in n.y.
can you elaborate on what's happening, or direct me to a website about the issue. keep us posted on further developments.
thanks...I think


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jeff
11/13/2013
12:24:25 PM
We covered it on the HANA Blog back in August:
http://blog.horseplayersassociation.org/2013/08/new-york-horseplayers-take-big-hit.html


As did DRF:
http://www.drf.com/news/new-york-add-5-cent-fee-bets-made-out-state-companies


--quote:
"SARATOGA SPRINGS, N.Y. A law set to go into effect Jan. 1 in New York will require out-of-state account-wagering operators to pay a 5-cent fee for every dollar wagered through their operations by a New York resident, with the brunt of those fees going to their New York competitors"
--end quote


I'll know more as things shake out and we get closer to year end.

Here's what I do know:

The law goes into effect Jan 01 2014. NY has implemented a 5% source market fee. The way the law is written: money collected from out of state ADWs and rebate shops will be handed over to in state bet takers.

If you are a NY resident and playing through an ADW, even if you are not currently getting rebates, THIS LAW NEGATIVELY IMPACTS YOU because:

The number of ADW choices open to you is about to take a hit. (A number of ADWs are about to stop doing business in NY.)

If you are a NY resident playing through a rebate shop THIS LAW NEGATIVELY IMPACTS YOU because:

1. The 5% source market fee forces rebate shops to cut your rebates.

2. The number of rebate shop choices open to you is about to take a hit. (A number of rebate shops are about to stop doing business in NY.)


-jp



.


~Edited by: jeff  on:  11/13/2013  at:  12:24:25 PM~

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rkskipster
11/14/2013
4:09:16 AM
Jeff, thanks for the explanation. Keep us informed of any new details. Once again the bloodsucking politians in Albany smell blood and will try to suck us dry. Beware Jcappers in other states if Cuomo decides to run for higher office. rick

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