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Assembly Bill A8724

2025-2026 Legislative Session

Prohibits use of gift certificates, open loop gift certificates, and e-wallets for mobile sports wagering

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Current Bill Status - In Assembly Committee

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2025-A8724 (ACTIVE) - Details

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

2025-A8724 (ACTIVE) - Summary

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.

2025-A8724 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8724
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               June 2, 2025
                                ___________
 
 Introduced  by M. of A. STECK -- 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  use  of  gift  certificates, open loop gift
   certificates, and e-wallets for mobile sports wagering

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph  (b)  of subdivision 5 of section 1367-a of the
 racing, pari-mutuel wagering and breeding law, as added by section 4  of
 part Y of chapter 59 of the laws of 2021, is amended to read as follows:
   (b)  (I)  Authorized  sports bettors may deposit and withdraw funds to
 and from their account on a  mobile  sports  wagering  operator  through
 electronically  recognized payment methods, including but not limited to
 credit cards and debit cards, or via any other  means  approved  by  the
 commission; provided however, that:
   (1)  in  the  case  of  credit  card  payments, each authorized sports
 bettor's account per operator shall be limited to a credit card spending
 amount of two thousand five hundred  dollars  per  year;  [and  provided
 further, that this]
   (2)  THE  limitation  UNDER  CLAUSE ONE OF THIS SUBPARAGRAPH shall not
 apply to other payment methods or to debit cards; AND
   (II) No operator shall be authorized to provide a line  of  credit  to
 any authorized sports bettor.
   (3)  MOBILE  SPORTS  WAGERING  OPERATORS SHALL NOT ENABLE OR OTHERWISE
 PERMIT AUTHORIZED SPORTS BETTORS TO DEPOSIT OR WITHDRAW FUNDS TO OR FROM
 THEIR ACCOUNT THROUGH GIFT CERTIFICATES OR OPEN LOOP GIFT  CERTIFICATES,
 AS  SUCH  TERMS ARE DEFINED BY SECTION THREE HUNDRED NINETY-SIX-I OF THE
 GENERAL BUSINESS LAW, OR E-WALLETS.
   § 2. Paragraphs (bb) and (cc) of subdivision 1 of section 1367 of  the
 racing,  pari-mutuel wagering and breeding law, as added by section 3 of
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11918-01-5
 A. 8724                             2

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