New York Bill A7962 Caps Bets at $5,000, Curbs Ads

Tightening the Reins on Sports Betting

The proposal, now under review by the Assembly’s Racing and Wagering Committee, sets a daily betting cap of $5,000 and restricts account deposits to five per 24 hours.

It also bans credit card funding, limits customers to one account per operator, and requires notifications at $2,500 in deposits, offering options to set limits or close accounts. The goal is to curb problem gambling in the nation’s biggest betting market, handling $23.4 billion in 2024.

The bill’s ad restrictions are sweeping, potentially making New York’s rules the toughest among 39 legal betting states. It bans phrases like “bonus,” “no sweat,” or “free bet,” prohibits odds boost mentions, and blocks ads from explaining how to bet. A

ds can’t air from 8 a.m. to 10 p.m. or during live sports broadcasts, nor target minors.

Ad Crackdown Details

A7962’s advertising rules mirror Ohio and Massachusetts, where regulators already limit promotional lingo. Banning terms like “odds boosts” and betting guides aims to dial back aggressive marketing by operators like FanDuel, which spent $200 million on New York ads in 2024, per AdWeek.

Barring ads to minors aligns with existing laws but adds enforcement teeth, with fines up to $50,000 per violation, per state guidelines.

If A7962 passes, it’ll force a rethink of ad strategies. Operators might lean on social media or out-of-state campaigns, but losing prime-time slots and key phrases could cut ad reach by 40%, mirroring Massachusetts’ 2023 drop after similar rules.