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.
Summary
A08724 would amend New York’s racing, pari-mutuel wagering and breeding law to restrict certain funding methods for mobile sports wagering accounts. The bill keeps the existing framework allowing authorized sports bettors to deposit and withdraw funds through electronically recognized payment methods, including credit and debit cards and other methods approved by the gaming commission, while preserving the current $2,500 annual credit-card spending cap per operator and the prohibition on lines of credit.
The bill adds a new prohibition barring mobile sports wagering operators from enabling deposits or withdrawals through gift certificates, open loop gift certificates, or e-wallets. It also adds a statutory definition of “e-wallet” for purposes of the law, and makes a related technical amendment to the definitions section governing suspicious wagering activity and independent integrity monitors. The measure would take effect immediately upon enactment.
Impact
The bill would directly amend sections 1367 and 1367-a of the Racing, Pari-Mutuel Wagering and Breeding Law, narrowing the payment methods available for mobile sports wagering accounts in New York. Mobile sports wagering operators would need to ensure their platforms do not accept or process gift certificates, open loop gift certificates, or e-wallets for account deposits or withdrawals, while continuing to comply with existing rules on credit card limits, debit cards, and commission-approved payment methods. The change would affect licensed operators, bettors using mobile wagering apps, and the State Gaming Commission’s oversight of permitted payment systems.
Sentiment
There is limited recorded legislative debate or voting history available for this bill, so the overall sentiment can only be inferred from the text and caption. The measure appears to reflect a regulatory and consumer-protection approach to mobile sports wagering, with no indication of organized opposition in the available materials. Its narrow focus and immediate effective date suggest it is intended as a technical but meaningful tightening of wagering payment rules rather than a broader policy overhaul.
Contention
The main point of contention is likely to be the restriction on payment flexibility for bettors, especially the prohibition on e-wallets and gift-card-based funding methods, which some may view as limiting convenience or modern payment options. Supporters would likely argue that these methods can complicate oversight, increase fraud or money-laundering risks, or undermine responsible gambling controls. Because no committee transcript or vote record is provided, no specific lawmakers, stakeholders, or formal objections can be identified from the available record.
Prohibits mobile sports wagering operators from imposing any condition requiring an authorized sports bettor to wager deposited funds as a prerequisite to withdrawing such funds.
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 only automated clearing houses or electronic funds transfers from such authorized sports bettor's personal bank account, wire transfers from an authorized sports bettor's personal bank account, personal checks delivered to the operator, a debit card issued by a financial institution that draws directly from such authorized sports bettor's personal bank account only and not a prepaid debit card, or in-person cash deposits at a casino or other approved location, may be used to fund mobile sports wagering accounts.
Provides that only automated clearing houses or electronic funds transfers from such authorized sports bettor's personal bank account, wire transfers from an authorized sports bettor's personal bank account, personal checks delivered to the operator, a debit card issued by a financial institution that draws directly from such authorized sports bettor's personal bank account only and not a prepaid debit card, or in-person cash deposits at a casino or other approved location, may be used to fund mobile sports wagering accounts.
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.
Requires all withdrawal transactions made through a service provided by a mobile sports wagering licensee to be irreversible by the withdrawing consumer, the licensee or another at the consumer's request.
Prohibits mobile sports wagering operators from providing certain incentives to individuals for certain actions that tend to increase gambling activities.