New York sports betting is getting closer to reality, as the state Senate Racing, Gaming and Wagering Committee has unanimously voted to advance a bill that would legalize in-person and mobile gambling in the state.

Introduced in January by Senator Joseph Addabbo, Senate Bill 17 passed the Committee by a vote of 6-0 and will now progress forward to the Senate Finance Committee for further debate.

Should the bill come into law, there would be two different tax rates for the type of bets placed in New York. casinos that secure a license would pay tax at 8.5% on gross in-person wagering revenue, while mobile sports betting would be taxed at a rate of 12%.

Operators would need to pay a one-time fee of $12m (£9.3m/€10.7m) to secure a license for betting on sports in New York. This would have to be paid within 30 days of being granted a license by the New York State Gaming Commission.

Casinos offering sports betting services in New York would also be required to pay a royalty fee of 0.2% of the total amount wagered on a sports event to the sporting governing body that oversees the competition. This payment would be made on a quarterly basis.

Read more at iGB North America.