New York A 6937: Prohibits reversable withdrawals

Bill Text

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A06937 Summary:

BILL NOA06937A

&nbsp

SAME ASNo Same As

&nbsp

SPONSORVanel

&nbsp

COSPNSRWoerner

&nbsp

MLTSPNSR

&nbsp

Amd §1367-a, RWB L

&nbsp

Requires all withdrawal transactions made through a service provided by a mobile sports wagering licensee to be irreversible by the withdrawing consumer, the licensee or another at the consumer's request.

Go to top A06937 Actions:

BILL NOA06937A

&nbsp

03/18/2025referred to racing and wagering

05/14/2025amend and recommit to racing and wagering

05/14/2025print number 6937a

01/07/2026referred to racing and wagering

Go to topA06937 Committee&nbspVotes:

Go to topA06937 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA06937 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 6937--A

 2025-2026 Regular Sessions

 IN ASSEMBLY

 March 18, 2025
 ___________

 Introduced by M. of A. VANEL -- read once and referred to the Committee
 on Racing and Wagering -- committee discharged, bill amended, ordered
 reprinted as amended and recommitted to said committee

 AN ACT to amend the racing, pari-mutuel wagering and breeding law, in
 relation to prohibiting reversible withdrawals

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Section 1367-a of the racing, pari-mutuel wagering and
 2 breeding law is amended by adding a new subdivision 8 to read as
 3 follows:
 4 8. (a) All withdrawal transactions made through a service provided by
 5 a mobile sports wagering licensee shall be irreversible by the withdraw-
 6 ing consumer, the mobile sports wagering licensee or another at the
 7 consumer's request.
 8 (b) Any mobile sports wagering licensee which violates the provisions
 9 of this subdivision shall incur a civil penalty of ten thousand dollars
 10 per day such withdrawals are permitted to be withdrawn. Where the
 11 commission determines that a mobile sports wagering licensee has engaged
 12 in a persistent course of conduct in violation of this subdivision, such
 13 mobile sports wagering licensee shall incur a civil penalty not to
 14 exceed twenty-five thousand dollars per day such withdrawals are permit-
 15 ted to be withdrawn.
 16 (c) Any provision in a contract between a person and an entity which
 17 eliminates or augments a person's rights with respect to the provisions
 18 of this subdivision shall be void.
 19 § 2. This act shall take effect on the ninetieth day after it shall
 20 have become a law.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD10860-03-5

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