New York A 7962: Establishes certain limits on sports betting for both mobile and casino sports betting

Bill Text

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A07962 Summary:

BILL NOA07962A

&nbsp

SAME ASNo Same As

&nbsp

SPONSORCarroll R

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COSPNSRLasher

&nbsp

MLTSPNSR

&nbsp

Amd 1367 & 1367-a, RWB L

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Establishes certain limits on sports betting for both mobile and casino sports betting to include advertisements and wager limits; prohibits the use of credit cards to make deposits on mobile sports betting.

Go to top A07962 Actions:

BILL NOA07962A

&nbsp

04/16/2025referred to racing and wagering

11/19/2025amend and recommit to racing and wagering

11/19/2025print number 7962a

01/07/2026referred to racing and wagering

Go to topA07962 Committee&nbspVotes:

Go to topA07962 Floor&nbspVotes:

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

Go to topA07962 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 7962--A

 2025-2026 Regular Sessions

 IN ASSEMBLY

 April 16, 2025
 ___________

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

 AN ACT to amend the racing, pari-mutuel wagering and breeding law, in
 relation to regulating sports betting and sports betting advertising
 campaigns

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

 1 Section 1. Subdivision 4 of section 1367 of the racing, pari-mutuel
 2 wagering and breeding law, as amended by section 3 of part Y of chapter
 3 59 of the laws of 2021, is amended to read as follows:
 4 4. Except as otherwise provided by this article, the commission shall
 5 have the authority to regulate sports pools and the conduct of sports
 6 wagering under this article to the same extent that the commission regu-
 7 lates other gaming. No casino or mobile sports wagering licensee shall
 8 be authorized to operate a sports pool unless it has produced informa-
 9 tion, documentation, and assurances concerning its financial background
 10 and resources, including cash reserves, that are sufficient to demon-
 11 strate that it has the financial stability, integrity, and responsibil-
 12 ity to operate a sports pool. In developing rules and regulations appli-
 13 cable to sports wagering, the commission shall examine the regulations
 14 implemented in other states where sports wagering is conducted and
 15 shall, as far as practicable, adopt a similar regulatory framework. The
 16 commission shall promulgate regulations necessary to carry out the
 17 provisions of this section, including, but not limited to, regulations
 18 governing the:
 19 (a) amount of cash reserves to be maintained by casinos and mobile
 20 sports wagering licensees to cover winning wagers;
 21 (b) acceptance of wagers on a series of sports events;

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD11562-03-5

 A. 7962--A 2

 1 (c) maximum wagers which may be accepted by a casino or mobile sports
 2 wagering licensee from any one patron [on any one sports event] which
 3 shall not exceed the sum of five thousand dollars during a twenty-four
 4 hour period;
 5 (d) type of wagering tickets which may be used;
 6 (e) method of issuing tickets;
 7 (f) method of accounting to be used by casinos and mobile sports
 8 wagering licensees;
 9 (g) types of records which shall be kept;
 10 (h) use of [credit and] checks by authorized sports bettors;
 11 (i) the process by which a casino may place a layoff bet;
 12 (j) the use of global risk management;
 13 (k) type of system for wagering; [and]
 14 (l) protections for a person placing a wager; and
 15 (m) prohibition on certain advertisement practices including odds
 16 boosts or similar offers, including advertising that contains the phras-
 17 es "bonus", "no sweat", "bonus bet", or any other similar term.
 18 § 2. Subdivisions 4 and 5 of section 1367-a of the racing, pari-mutuel
 19 wagering and breeding law, as added by section 4 of part Y of chapter 59
 20 of the laws of 2021, are amended to read as follows:
 21 4. (a) As a condition of licensure, each mobile sports wagering opera-
 22 tor shall implement the following measures:
 23 (i) limit each authorized sports bettor to one active account on their
 24 platform, an