The New York Assembly Committee on Racing and Wagering is reviewing a new bill that could dramatically reshape how sportsbooks operate in the state. Assemblymember Robert Carroll introduced Bill A7962, which proposes a $5,000 daily limit on both deposits and wagers, and a ban on credit card use for sportsbook funding.
The bill promotes responsible gambling by capping how much players can deposit and wager within a 24-hour period. Once a player’s lifetime deposits hit $2,500, operators must pause wagering until the player acknowledges the threshold and either sets personal limits or closes the account.
Cracking Down on Advertising
Carroll’s proposal also targets aggressive marketing. Sportsbooks would lose the ability to use terms like “bonus,” “bonus bet,” or “no sweat” in their ads. The bill also blocks odds boosts and similar promotional hooks designed to drive risky betting behavior.
It further restricts ad placement—banning sportsbook ads between 8am and 10pm and during live sporting events to reduce youth exposure and compulsive triggers.
What’s Ahead?
The bill now sits with the Assembly Committee. If it clears that stage, it moves to the Senate Committee, then onto the Floor Calendar of both legislative houses. If both chambers approve it, the bill will land on the Governor’s desk for final review.
Carroll, known for his legislative drive, has introduced over 150 bills, with 17 becoming law.
Betting Booms, Scrutiny Grows
In 2024, New York sportsbooks reported $23.9 billion in handle and $2.14 billion in revenue, solidifying the state’s dominance in the U.S. market. This proposal signals growing momentum toward stronger consumer protections, even as the industry continues to thrive.
