New York lawmakers will consider a bill to drastically alter the United States' highest-grossing legal sports betting market, potentially influencing states nationwide.
A bill introduced Wednesday imposes dramatic restrictions on bettors’ deposit limits and bans most sportsbooks’ current advertising language. The proposal, which Assemblymember Robert Carroll introduced, was submitted to the Assembly’s Racing and Wagering Committee for further discussion.
Key takeways
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New bill proposal: New York Assemblymember Robert Carroll introduced a bill that would impose strict regulations on sports betting, including a $5,000 daily wagering cap, a five-deposit-per-day limit, and sweeping restrictions on advertising content and timing.
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Economic and industry concerns: Critics warn the bill could drive high-stakes bettors to neighboring states like New Jersey, reducing New York’s sports betting tax revenue.
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National implications: If passed, New York’s legislation could set a precedent for stricter sports betting regulations nationwide, potentially influencing other states.
The Racing Committee was the first step in New York’s most notable gaming bills in recent years, including legislation that enacted the state’s sports betting legalization market. The committee tended to support bills backed by gaming industry stakeholders, which could jeopardize Carroll’s proposal before it can reach the Assembly floor.
Bill details
If passed as written, Empire State bettors couldn't wager more than $5,000 in a 24-hour period. The restriction stands out in one of the U.S.' wealthiest per capita states, one home to media personalities who routinely post five or six-figure bets.
A four-figure daily limit could drive these bettors in the New York City metro area back to New Jersey, which was the nation’s highest-grossing regulated sports betting market before the New York sports betting market began accepting legal wagers in 2022. This could hurt New York’s potential sports betting tax revenue, which totaled roughly $3 billion.
More than one-third of all tax income generated from legal sportsbooks since the Supreme Court struck down the federal wagering ban in May 2018 came from New York. The Empire State's 51% tax rate on sportsbooks’ gross gaming revenue is the U.S.' highest for a multi-operator market.
The law prohibits bettors from placing more than five deposits in a 24-hour period. The bill doesn’t specify specific deposit limits.
New York has generated more than one-third of all sports betting gross gaming revenue tax dollars nationwide since the Supreme Court struck down the federal wagering ban in May 2018. New York launched its first legal mobile sportsbooks in January 2022.
— Ryan Butler (@ButlerBets) April 17, 2025
The legislation also proposes the strictest advertising limits of the 39 states that approved legal sportsbooks.
Operators couldn't include information about odds boosts, bonus bets or other similar promotions. Most current sportsbooks feature these promos in their ads.
Books would also be prohibited from placing ads between 8 a.m. and 10 p.m. local time or during live sporting events. The vast majority of sports betting televised ads are run during these hours or competitions.
Potential nationwide impact
This proposal parallels a stalled federal bill that would implement similar restrictions. With the legislation in Congress not gaining much traction, states could take similarly aggressive moves.
No state has passed such stringent restrictions. But less sweeping prohibitions have spread across some states.
Ohio and Massachusetts regulators banned sportsbooks from using the term “risk free” in their promotional materials, leading all major operators to pull that language from their ads nationwide. A more drastic crackdown in New York, home to the country's largest media market, could also impact advertising across the U.S.
Regulated books and industry advocates including the American Gaming Association fought against the Congressional proposal and sweeping advertising bans in general. Opponents of the bans argue this turns bettors away from legal options and to unregulated offshore books.
Industry estimates indicate the unregulated market is at least the size of the $150 billion in bets placed with legal operators in 2024 and potentially multiple times larger.
Proponents of advertising, deposit and wagering restrictions argue greater limitations are needed as sports betting becomes more readily available. Restriction supporters cited academic studies released in recent months that indicate sportsbooks have deleterious effects on their customers’ financial health.
