Amends the definition of sports wager to include other things of value; changes the licensing requirement for mobile sports wagering operators; provides the state shall by no later than January 31, 2026 have fourteen operators and by January 31, 2027 have sixteen operators; provides tax rates shall be determined based on the number of operators.
Summary
Bill A06013 amends the racing, pari-mutuel wagering and breeding law to redefine the term 'sports wager' to include cash equivalents and other items of value. It also modifies the licensing process for mobile sports wagering operators, stipulating that by January 31, 2026, there must be at least fourteen licensed operators, and by January 31, 2027, at least sixteen. The bill establishes a competitive bidding process for licensing and sets tax rates based on the number of operators, with a minimum tax rate of twelve percent for mobile sports wagering revenue.
Impact
The bill will significantly impact the regulation of mobile sports wagering in New York by expanding the definition of what constitutes a wager and altering the licensing framework for operators. It mandates a minimum number of licensed operators, which could increase competition in the market and potentially enhance state revenue from sports wagering taxes. Additionally, it ensures that tax revenues are allocated to education and youth sports programs, thus affecting funding in these areas.
Sentiment
The sentiment surrounding Bill A06013 appears to be cautiously optimistic, with support for the expansion of mobile sports wagering seen as a means to increase state revenue and enhance consumer options. However, there may be concerns regarding the regulatory complexities and the potential for increased gambling addiction among the population.
Contention
Notable points of contention include the competitive bidding process for licensing and the minimum tax rates imposed on operators. Some stakeholders may argue that the tax rates could deter potential operators from entering the market, while others may express concerns about the adequacy of safeguards against gambling addiction and the impact on local economies.
Amends the definition of sports wager to include other things of value; changes the licensing requirement for mobile sports wagering operators; provides the state shall by no later than January 31, 2024 have fourteen operators and by January 31, 2025 have sixteen operators; provides tax rates shall be determined based on the number of operators.
Prohibits mobile sports wagering operators and mobile sports wagering platforms from allowing more than five deposits from an authorized sports bettor in a twenty-four hour period.
Provides that mobile sports wagering operators and mobile sports wagering platforms are prohibited from limiting the size and frequency of deposits or wagers of authorized sports bettors because the bettor obtains financial benefit or due to the bettor's waging activity; provides exceptions for suspicious wagering activity and indications of a gambling disorder; requires such operators and platforms to provide electronic written notice when an authorized sports bettor is limited or banned.
Provides that mobile sports wagering operators and mobile sports wagering platforms are prohibited from limiting the size and frequency of deposits or wagers of authorized sports bettors because the bettor obtains financial benefit or due to the bettor's waging activity; provides exceptions for suspicious wagering activity and indications of a gambling disorder; requires such operators and platforms to provide electronic written notice when an authorized sports bettor is limited or banned.
Prohibits mobile sports wagering operators from enabling or otherwise permitting authorized sports bettors to deposit or withdraw funds to or from their account through gift certificates, open loop gift certificates, or e-wallets.
Prohibits mobile sports wagering operators from providing certain incentives to individuals for certain actions that tend to increase gambling activities.
Prohibits mobile sports wagering operators from providing certain incentives to individuals for certain actions that tend to increase gambling activities.