New York Lawmaker Introduces Tougher Rules for Sports Betting

by Lisa Spencer, April 25, 2025

A bill presented to NY’s Assembly Racing and Wagering Committee aims to cap daily betting amounts, restrict deposit limits, and establish strict regulations on gambling adverts.

Bill Aims to Cap Betting Amounts, Limit Deposits and Ban Ads

New York legislators will review a bill proposed by assemblymember Robert Carrol, which looks to set strict limits on how much people can bet and how sportsbooks advertise their services. This could significantly reshape the nation’s most lucrative legal sports betting market, potentially affecting other states nationwide.

On April 16, 2025, the Assembly’s Racing and Wagering Committee received a bill proposing a $5,000 daily betting cap, a limit of five deposit transactions per day, and new advertising regulations. The plan by Assemblymember Carroll is also to stop using credit cards to fund betting accounts. This aims to reduce the financial strain on gamblers, who often incur high fees due to credit card deposits being processed as cash advances.

One of the big things that stands out in the bill is how it tries to cut down on sportsbook ads. It would ban words like ‘bonus’ or ‘no sweat,’ block ads during live games and stop them from showing between 8 a.m. and 10 p.m., which is usually a prime time for these kinds of ads. It also says sportsbooks can’t target minors or tell people how to bet.

Carroll backed his bill on social media, saying,

“My bill A7962 creates guardrails to protect NYers who participate in sports gambling. This nascent industry is lightly regulated and has harmed thousands of NYers. The least we could do is put specific monetary caps and advertising restrictions.”

These Rules Could Drive Bettors to Nearby States

A daily betting cap in the thousands could end up pushing a lot of New York City bettors back over to New Jersey, the top sports betting market in the country before New York legalized it in 2022. That shift could hurt New York’s tax revenue from sports betting, which has already brought in around $3 billion.

Since the Supreme Court lifted the federal ban on sports betting in 2018, New York has pulled in more than a third of all the tax money from legal sportsbooks. The state’s 51% tax rate on sportsbook revenue is the highest in the US for a market with multiple operators.

Nationwide Impact

This proposal is similar to a federal bill that’s gone nowhere in Congress, so states might start making similar moves. Some states, like Ohio and Massachusetts, have already banned terms like ‘risk-free’ in sportsbook ads, and that change then went national. If New York, with its massive media reach, goes further, it could determine how betting is advertised across the US.