Proposed New York Law Seeks to Cap Sports Betting Deposits and Ads.

New York could soon see significant changes to its sports betting laws if a new proposal moves forward. Assembly member Robert Carroll has introduced Assembly Bill A7962, which outlines tighter restrictions on deposits, wagers, credit card usage, and advertising practices for both online and retail sports betting.

Under this proposal, bettors would face a limit of $5,000 in deposits and wagers within 24 hours. Once an individual’s lifetime deposits hit $2,500, operators would need to pause wagering until the user acknowledges reaching the threshold. Players would then have the choice to set personal gaming limits or close their accounts entirely.

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The bill also proposes a ban on the use of credit cards for sports betting and places stringent controls on advertising. Words like “bonus” or phrases such as “bonus bet” and “no sweat” would be prohibited from advertisements. Additionally, ads would not be allowed during live sports events or between 8 a.m. and 10 p.m. local time.

The proposal has been submitted to the New York Assembly Committee on Racing and Wagering. If it passes the committee, it will advance to the Senate Committee, followed by the Floor Calendar Assembly and Senate. The Governor will then have the final decision on whether it becomes law.

New York has seen impressive numbers from its sports betting industry, with a handle of $23.9 billion and $2.14 billion in gross gaming revenue reported in 2024. With these proposed restrictions, the state aims to balance the growth of the industry with responsible gaming practices.

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