New York Sports Betting Reform Bill A7962 Fails in Committee
Assembly Bill A7962, introduced by Assemblymember Robert C. Carroll in April, stalled in New York’s Assembly Racing and Wagering Committee, halting its path to becoming law.
A Push for Tighter Rules Falls Short
The bill sought to overhaul the state’s thriving sports betting market with strict limits on deposits, wagers, and advertising to curb problem gambling.
Despite its ambitious goals, opposition from industry stakeholders concerned about financial impacts and bettors shifting to unregulated offshore sites doomed the proposal.
Carroll, a self-disclosed Caesars Sportsbook user, defended A7962, arguing that “this nascent industry is lightly regulated and has harmed thousands of New Yorkers.”
He pushed for “specific monetary caps and advertising restrictions” to protect bettors, but the bill’s failure keeps New York’s current framework intact, including 2023 rules mandating addiction warnings and hotline numbers in gambling ads.
What the Bill Proposed
Had A7962 passed, it would have reshaped New York’s sports betting landscape:
- Deposit Limits: Bettors would have been capped at five deposits per 24 hours with each licensed operator.
- Wager Caps: A $5,000 daily betting limit per operator, regardless of the number of events.
- Credit Card Ban: No deposits via credit cards to prevent gambling with borrowed funds.
- Advertising Restrictions: No ads from 8 a.m. to 10 p.m. or during live sports events, and a ban on terms like “bonus,” “no sweat,” or “odds boosts” in marketing.
Critics argued A7962’s strict caps would drive high rollers to neighboring states like New Jersey or unregulated platforms, hurting New York’s market dominance.
Meanwhile, New York’s legislature moved forward with a separate ban on sweepstakes casinos, now awaiting Governor Kathy Hochul’s signature.
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