New York A 8724: Prohibits use of gift certificates, open loop gift certificates, and e-wallets for mobile sports wagering

Bill Text

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A08724 Summary:

BILL NOA08724 

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SAME ASNo Same As

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SPONSORSteck

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COSPNSRMcDonald, Hevesi, Simon, Hyndman, McDonough, Brown K, Gray

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MLTSPNSR

&nbsp

Amd §§1367-a & 1367, RWB L

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Prohibits mobile sports wagering operators from enabling or otherwise permitting authorized sports bettors to deposit or withdraw funds to or from their account through gift certificates, open loop gift certificates, or e-wallets.

Go to top A08724 Actions:

BILL NOA08724 

&nbsp

06/02/2025referred to racing and wagering

01/07/2026referred to racing and wagering

Go to topA08724 Committee&nbspVotes:

Go to topA08724 Floor&nbspVotes:

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

Go to topA08724 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8724

 2025-2026 Regular Sessions

 IN ASSEMBLY

 June 2, 2025
 ___________

 Introduced by M. of A. STECK -- read once and referred to the Committee
 on Racing and Wagering

 AN ACT to amend the racing, pari-mutuel wagering and breeding law, in
 relation to prohibiting use of gift certificates, open loop gift
 certificates, and e-wallets for mobile sports wagering

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

 1 Section 1. Paragraph (b) of subdivision 5 of section 1367-a of the
 2 racing, pari-mutuel wagering and breeding law, as added by section 4 of
 3 part Y of chapter 59 of the laws of 2021, is amended to read as follows:
 4 (b) (i) Authorized sports bettors may deposit and withdraw funds to
 5 and from their account on a mobile sports wagering operator through
 6 electronically recognized payment methods, including but not limited to
 7 credit cards and debit cards, or via any other means approved by the
 8 commission; provided however, that:
 9 (1) in the case of credit card payments, each authorized sports
 10 bettor's account per operator shall be limited to a credit card spending
 11 amount of two thousand five hundred dollars per year; [and provided
 12 further, that this]
 13 (2) the limitation under clause one of this subparagraph shall not
 14 apply to other payment methods or to debit cards; and
 15 (ii) No operator shall be authorized to provide a line of credit to
 16 any authorized sports bettor.
 17 (3) mobile sports wagering operators shall not enable or otherwise
 18 permit authorized sports bettors to deposit or withdraw funds to or from
 19 their account through gift certificates or open loop gift certificates,
 20 as such terms are defined by section three hundred ninety-six-i of the
 21 general business law, or e-wallets.
 22 § 2. Paragraphs (bb) and (cc) of subdivision 1 of section 1367 of the
 23 racing, pari-mutuel wagering and breeding law, as added by section 3 of

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD11918-01-5

 A. 8724 2

 1 part Y of chapter 59 of the laws of 2021, are amended and a new para-
 2 graph (dd) is added to read as follows:
 3 (bb) "Suspicious wagering activity" means unusual wagering activity
 4 that cannot be explained and is indicative of match fixing, the manipu-
 5 lation of an event, misuse of inside information, or other prohibited
 6 activity; [and]
 7 (cc) "Independent integrity monitor" means an independent individual
 8 or entity approved by the commission to receive reports of unusual
 9 wagering activity from a casino, mobile sports wagering licensee, or
 10 commission for the purpose of assisting in identifying suspicious wager-
 11 ing activity[.]; and
 12 (dd) "E-wallet" means a software-based system or application used by
 13 an individual for payment or transfer of funds, that is capable of stor-
 14 ing and accessing funds and/or account information for banking insti-
 15 tutions, credit cards, and other account types with financial insti-
 16 tutions.
 17 § 3. This act shall take effect immediately.

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