A New York lawmaker has put forward a new bill that might change the state’s booming sports betting scene. Assemblymember Robert Carroll introduced the proposed law, which looks to set firm caps on how much people can bet and how sportsbooks can promote their services. If it passes, this bill could lead the way for stricter control of online gambling across the country.
New York Bill Aims to Cap Sports Bets, Limit Deposits, and Restrict Ads
The Assembly’s Racing and Wagering Committee received a bill on April 16, 2025, which aims to put a cap on daily bets at $5,000, limit deposits to five transactions a day, and bring in wide-ranging advertising rules. Carroll’s plan also wants to ban the use of credit cards to fund betting accounts. This step looks to cut down on the financial troubles for bettors who often face steep fees because credit card companies treat these deposits as cash advances.
One aspect of the bill that stands out is how it might curb the marketing influence of sportsbooks. The new rules would outlaw ads with words like “bonus” or “no sweat,” and stop advertising during live sports or from 8 a.m. to 10 p.m. Right now, these time slots see many sports betting ads given New York’s key spot as one of the biggest media hubs in the US. On top of that, the bill says sportsbooks cannot aim ads at kids or tell people how to place bets.
Proposed Sports Betting Restrictions in New York Could Drive Big Bettors to Nearby States
The new law has gotten a lot of attention, but it is also causing worry for people in the industry. Some say that putting limits on deposits and bets might push big gamblers to nearby states like New Jersey where sports betting is also legal. New York brings in more tax money from sports betting than any other state, so if fewer bets are placed, it could have an impact on the state’s finances. In 2024, New York made over $1 billion in tax revenue from sports betting alone.
The bill comes when New York’s sports betting scene is booming. Since the state made mobile sports betting legal in 2022, it has been breaking records left and right. In 2024, New Yorkers bet over $22 billion on sports, which brought in more than $2 billion in gross gaming revenue.
While the state’s high tax rate of 51% has led to impressive tax earnings, these new rules could change how much people bet and the money it brings in. People who back the bill say that New York needs more rules to protect those who might bet too much and to create a safer betting environment. They point to studies from universities that link too much sports betting with financial troubles. They also push for keeping a closer eye on things as the market keeps growing.