A bill that will require sports betting operators to provide New Yorkers with a monthly activity statement is on its way to Gov. Kathy Hochul’s desk.
Key Takeaways
- Online sportsbooks could soon electronically send monthly financial details to bettors.
- If signed into law, New York will be the first state to require this.
- Assembly Member Rebecca Kassay’s bill easily worked its way through the legislature.
The New York Senate unanimously passed A10329 on Tuesday by a vote of 61-0 on the third reading and sent it back to the Assembly, which had already approved the bill with a 143-0 vote in March. New York would become the first state to require electronic monthly sports betting statements.
Introduced by Assembly Member Rebecca Kassay earlier this year, the legislation would ensure sportsbook customers receive summaries detailing multiple financial transactions, including amounts deposited during a month, winnings, losses, and the number and amounts of wagers.
Enjoying Covers content? Add us as a preferred source on your Google account“Equipping New Yorkers with key data surrounding gaming activity and behavior bolsters informed participation and is critical in reducing problem gambling in our communities,” Kassay said in March. “This bill modernizes consumer protections to ensure that mobile sports betting platforms operate responsibly in our state while prioritizing the well-being of our residents.”
Easily passed
Within 15 days after the end of each month, authorized bettors will be informed of their net gains and losses, time spent logged into online sportsbooks, promotional credits used, responsible gaming resources, and lifetime wagering history beginning Jan. 1, 2027, if Hochul signs the bill.
The legislation advanced easily through the Assembly, and an identical Senate bill proposed by Joseph Addabbo was substituted by A10329 after S9415 passed the Racing, Gaming, and Wagering Committee by a 7-0 vote.
Nation's largest market
FanDuel, DraftKings, BetMGM, Fanatics, Caesars, Rush Street, theScore Bet, and Bally Bet are the online New York sports betting operators that will be required to send the monthly activity statements. The mobile sportsbooks combined to generate over $244 million in April gross revenue.
The legislation is part of a package of bills geared toward responsible gaming and more regulation in the U.S.’ most lucrative sports betting state.
Neighboring New Jersey is considering a similar monthly activity bill, and Garden State lawmakers are also trying to require operators to inform certain bettors of why they are being limited. Massachusetts recently put its new stipulation into effect.
