A New York lawmaker has introduced legislation that would have some of the strictest sports betting rules in the US, including a $5,000 daily limit, deposit limits and comprehensive advertising regulations.
Assemblymember Robert Carroll, a Democrat from Brooklyn, submitted Bill NY A07692 to the Assembly’s Racing and Wagering Committee last week. The bill includes:
$5,000 daily limit per user
5 deposits per 24-hour period
No credit card deposits
One account per sportsbook
The bill would also require operators to notify users who have deposited $2,500 in their lifetime that they can set limits or close their accounts. At this point, betting would be paused until the user acknowledges the notification.
"The bill establishes comprehensive regulations including a $5,000 24 hour limit, no credit card deposits and strict advertising guidelines," according to BillTrack50.com.
Carroll’s proposal targets sportsbook marketing with restrictions similar to the federal SAFE Bet Act proposed by U.S. Rep. Paul Tonko and Sen. Richard Blumenthal. The New York bill would:
Prohibit ads during live events
Ban ads 8am-10pm
No “bonus” or “no sweat” in promotional materials
No marketing to minors
No ads with detailed wagering info
These advertising restrictions mirror the trend of regulatory scrutiny across multiple states since the Supreme Court struck down the federal sports betting ban in 2018.
Critics say the proposed rules could have unintended consequences for New York’s sports betting industry which has generated $3 billion in tax revenue since January 2022.
Industry insiders say the $5,000 limit could drive high rollers to neighboring states like New Jersey or Connecticut or to unregulated offshore markets. With New York’s 51% tax on gross gaming revenue—the highest in the nation—any reduction in betting volume would hit the state’s coffers hard.The American Gaming Association and other industry groups have opposed similar restrictions at state and federal levels, saying they would undermine regulated markets and benefit illegal operators. The unregulated market could be as big as the $150 billion wagered legally in the US in 2024.
New York’s proposal follows other regulatory efforts:
Massachusetts regulators are looking at sportsbooks limiting certain bettors
Connecticut lawmakers have proposed max wagers and two-way markets
A Massachusetts senator introduced a bill with $1,000 daily limits and no in-play and prop bets
The bill’s sponsor cites recent research on sports betting and financial harm and wants to protect consumers as legal wagering becomes more widespread across the country.
The bill goes to the Assembly Racing and Wagering Committee. The New York legislative session ends June 12, so time is running out to pass this year.
The committee has historically supported bills that align with the gaming industry. While this bill may not pass, its concepts will likely be part of the discussion in New York and other states going forward.