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New York State Senator Tries to Raise Bingo Prize Cap

New York State Senator Michael Nozzolio has proposed a bill to allow charitable organizations sponsoring games of chance, such as bingo, to offer prizes of casino caliber. Similar bills have already passed in Oregon and Washington State, and one such bill is currently up for debate in Missouri.

As it currently stands, charitable or non-profit organizations may offer maximum prizes of $1,000 per game or $3,000 total payout for all games played in a night. Nonetheless, early bird games as well as accumulative carry-over games may progress to larger sums until hitting the prize.

Some organizations reported dips in revenue due to competition from the state's Native American gaming venues, which offer substantially higher jackpots. For many organizations, however, raising the jackpot threshold might not translate into higher revenue. Many of them do not have access to venues large enough to house the audience needed to support a big-jackpot game. Only by increasing the number of players will bingo halls obtain sufficient payment to offer bigger payouts.

Last year, Nozzolio proposed a similar bill, but it never picked up. In order for this bill to be passed, it would require prior approval from the Racing and Wagering committee, the Senate's finance committee and the Assembly's finance committee.


Source: Dot-Bingo News Writer

Monday, 7 February 2005





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