New York, home to the biggest sports betting market in the U.S., may be headed for a significant shake-up. A new proposal from Assembly member Robert Carroll, known as Assembly Bill A7962, is currently under review by the Assembly Committee on Racing and Wagering. And it’s already stirring strong opinions from lawmakers, gambling operators, and punters.
Proposed daily betting cap
At the core of the bill is a focus on curbing gambling addiction and protecting players at risk. The most talked-about proposal would cap both deposits and bets at $5,000 per day. Bettors would also be restricted to making no more than five deposits in a 24-hour window. The idea is to limit impulsive spending and slow down compulsive gambling habits.
The legislation also tackles credit card usage head-on. It proposes an outright ban on using credit cards to fund sports betting accounts. That’s a big shift from current rules, which allow such payments up to an annual cap. Advocates of the change say it could help bettors avoid racking up debt, especially since card companies often treat these transactions as costly cash advances.
Another proposed key feature is the adoption of a built-in safety mechanism. Once a bettor’s lifetime deposits cross the $2,500 mark, their account would be temporarily paused. The operator would be required to prompt the player to either set responsible gambling limits or close the account entirely. The goal here is to encourage players to take a step back and reassess before continuing.
A crackdown on advertising
But the bill isn’t just focused on spending, it also takes aim at advertising. Carroll wants to put tighter rules around how sportsbooks market their products to the public. Under the new guidelines, operators wouldn’t be allowed to use terms like “bonus,” “bonus bet,” or “no sweat.” Mentions of “odds boosts” or similar promotions would also be off-limits.
In addition to language, timing is under the spotlight. The bill proposes a ban on sports betting ads from airing between 8 am and 10 pm local time. Ads would also be prohibited during live sports broadcasts, a tough blow for operators who rely on those moments to reach the widest audience. Further restrictions would prevent advertisements from explaining how to place a bet or even describing how sports betting works, in an effort to reduce exposure among younger viewers and less experienced players.
Growth meets caution in New York
These proposed changes come as New York’s betting industry continues to break records. In 2024, state residents wagered over $22 billion, bringing in more than $2 billion in gross revenue and an all-time high of $1 billion in tax contributions. Since legalising mobile betting in 2022, New York has pulled ahead of every other state, now hosting nine licensed online sportsbooks.
Still, there’s concern that the bill might go a step too far. Some industry watchers worry that stricter rules could end up pushing serious bettors to neighbouring states like New Jersey, where gambling laws are more relaxed. As one analyst put it, “If players are capped at $5,000 a day, it could drag down overall betting volume and, by extension, the state’s tax revenue.”
Meanwhile, the numbers fueling this debate are hard to ignore. A recent survey found that around 5% of adults in New York—somewhere in the ballpark of 668,000 people—exhibited behaviours linked to problem gambling. Among students in grades 7 through 12, that figure was closer to 10%. For supporters of the bill, it’s clear that some level of intervention is overdue.
As the proposal makes its way through Albany, starting with the Assembly Committee, then heading to the Senate, and possibly landing on the Governor’s desk, New York’s approach to gambling regulation could be on the verge of a serious shift.
