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Assembly Bill A6937A

2025-2026 Legislative Session

Prohibits reversable withdrawals

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Current Bill Status - In Assembly Committee

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Bill Amendments

2025-A6937 - Details

Current Committee:
Assembly Racing And Wagering
Law Section:
Racing, Pari-Mutuel Wagering and Breeding Law
Laws Affected:
Amd §1367-a, RWB L

2025-A6937 - Summary

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.

2025-A6937 - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6937
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 18, 2025
                                ___________
 
 Introduced  by M. of A. VANEL -- read once and referred to the Committee
   on Racing and Wagering
 
 AN ACT to amend the racing, pari-mutuel wagering and  breeding  law,  in
   relation to prohibiting reversible withdrawals
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. The  racing,  pari-mutuel  wagering  and  breeding  law  is
 amended by adding a new section 1368 to read as follows:
   §  1368.  REVERSIBLE  WITHDRAWALS PROHIBITED. 1. ALL WITHDRAWAL TRANS-
 ACTIONS MADE THROUGH A SERVICE PROVIDED BY AN ENTITY LICENSED UNDER THIS
 CHAPTER SHALL BE IRREVERSIBLE BY THE WITHDRAWING CONSUMER, THE  LICENSEE
 OR ANOTHER AT THE CONSUMER'S REQUEST.
   2.  ANY  LICENSEE  WHICH VIOLATES THE PROVISIONS OF THIS SECTION SHALL
 INCUR A CIVIL PENALTY OF TEN THOUSAND DOLLARS PER DAY  SUCH  WITHDRAWALS
 ARE  PERMITTED  TO  BE WITHDRAWN. WHERE THE COMMISSION DETERMINES THAT A
 LICENSED ENTITY HAS  ENGAGED  IN  A  PERSISTENT  COURSE  OF  CONDUCT  IN
 VIOLATION OF THIS SECTION, SUCH LICENSEE SHALL INCUR A CIVIL PENALTY NOT
 TO  EXCEED  TWENTY-FIVE  THOUSAND  DOLLARS  PER DAY SUCH WITHDRAWALS ARE
 PERMITTED TO BE WITHDRAWN.
   3. ANY PROVISION IN A CONTRACT BETWEEN A PERSON AND  AN  ENTITY  WHICH
 ELIMINATES  OR AUGMENTS A PERSON'S RIGHTS WITH RESPECT TO THE PROVISIONS
 OF THIS SECTION SHALL BE VOID.
   § 2. This act shall take effect on the ninetieth day  after  it  shall
 have become a law.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10860-01-5

2025-A6937A (ACTIVE) - Details

Current Committee:
Assembly Racing And Wagering
Law Section:
Racing, Pari-Mutuel Wagering and Breeding Law
Laws Affected:
Amd §1367-a, RWB L

2025-A6937A (ACTIVE) - Summary

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.

2025-A6937A (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6937--A
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 18, 2025
                                ___________
 
 Introduced  by M. of A. VANEL -- read once and referred to the Committee
   on Racing and Wagering -- committee discharged, bill amended,  ordered
   reprinted as amended and recommitted to said committee
 
 AN  ACT  to  amend the racing, pari-mutuel wagering and breeding law, in
   relation to prohibiting reversible withdrawals

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.    Section  1367-a of the racing, pari-mutuel wagering and
 breeding law is amended by  adding  a  new  subdivision  8  to  read  as
 follows:
   8.  (A) ALL WITHDRAWAL TRANSACTIONS MADE THROUGH A SERVICE PROVIDED BY
 A MOBILE SPORTS WAGERING LICENSEE SHALL BE IRREVERSIBLE BY THE WITHDRAW-
 ING CONSUMER, THE MOBILE SPORTS WAGERING  LICENSEE  OR  ANOTHER  AT  THE
 CONSUMER'S REQUEST.
   (B)  ANY MOBILE SPORTS WAGERING LICENSEE WHICH VIOLATES THE PROVISIONS
 OF THIS SUBDIVISION SHALL INCUR A CIVIL PENALTY OF TEN THOUSAND  DOLLARS
 PER  DAY  SUCH  WITHDRAWALS  ARE  PERMITTED  TO  BE WITHDRAWN. WHERE THE
 COMMISSION DETERMINES THAT A MOBILE SPORTS WAGERING LICENSEE HAS ENGAGED
 IN A PERSISTENT COURSE OF CONDUCT IN VIOLATION OF THIS SUBDIVISION, SUCH
 MOBILE SPORTS WAGERING LICENSEE SHALL  INCUR  A  CIVIL  PENALTY  NOT  TO
 EXCEED TWENTY-FIVE THOUSAND DOLLARS PER DAY SUCH WITHDRAWALS ARE PERMIT-
 TED TO BE WITHDRAWN.
   (C)  ANY  PROVISION IN A CONTRACT BETWEEN A PERSON AND AN ENTITY WHICH
 ELIMINATES OR AUGMENTS A PERSON'S RIGHTS WITH RESPECT TO THE  PROVISIONS
 OF THIS SUBDIVISION SHALL BE VOID.
   §  2.  This  act shall take effect on the ninetieth day after it shall
 have become a law.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10860-03-5

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