A harsh new bill in New York would make sweeping changes to the state’s gambling landscape. Despite tax revenue from sportsbooks reaching almost $3bn in the Empire State since the market went live in January 2022, Assemblymember Robert Carroll went ahead and introduced the legislation to the Assembly Racing and Wagering Committee.
wouldn’t be able to mention free bets, odds boosts, and other similar types of offers
The bill would introduce a daily betting cap of $5,000, only allow people to make up to five deposits in a 24-hour period, and significantly curtail advertising of these products. Marketing materials wouldn’t be able to mention free bets, odds boosts, and other similar types of offers.
The bill would also stop all sports betting ads between 8am and 10pm or during live sports events. Most of these types of marketing materials run in these timeframes.
Lawmakers who oppose the proposal believe that if passed, it would significantly hurt tax revenue as high-stakes gamblers would go across state lines to New Jersey or use offshore sportsbooks to place their action.
