Key points:
- The bill is aimed at online and retail sports betting laws
- It would limit daily deposits and wagering limits to $5,000
- Advertisements would be banned from using the word ‘bonus’ and would have limited hours or opportunities to run
The New York Assembly Committee on Racing and Wagering has received a bill from Assemblymember Robert Carroll, detailing several potential changes to laws regarding both online and retail sports betting.
Assembly Bill A7962 seeks to amend betting limits, wager limits, credit card use and the types of advertising used by operators.
The first part of the bill introduces the idea that customers should not be able to deposit more than $5,000 during a 24-hour period.
Players would also be prevented from wagering more than $5,000 during a 24-hour period.
The bill also elects that “when an account holder's lifetime deposits exceed two thousand five hundred dollars, the mobile sports wagering operator shall prevent any wagering until the patron immediately acknowledges that the account holder has met the deposit threshold and may elect to establish responsible gaming limits or close the account”.
Operators would also be prohibited from certain advertising practices, including odds boosts or similar offers - but more importantly - they would be banned from running advertisements with the phrases ‘bonus’, ‘bonus bet’ or ‘no sweat’.
Advertisements would also not be allowed between the hours of 8am and 10pm local time, nor would they be permitted to occur during live sports events.
Good to know: Since being elected, Assemblymember Carroll has introduced over 150 bills, 21 of which have passed both the Assembly and Senate, while 17 have been signed into law
The bill is currently in the Assembly Committee, but if it passes, it will go to the Senate Committee before going to the Floor Calendar Assembly and Senate.
If it passes these steps, then it will be delivered to the Governor for a final decision.
In its recent reports, the New York State Gaming Commission revealed it reached a sports wagering handle of $23.9bn in 2024 and $2.14bn in gross gaming revenue.
