New York proposes STRICT sports betting limits

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New York is the top state when it comes to sports betting activity, generating $22.6 billion in 2024 and creating more than $1 billion in revenue, according to SBC Americas. That's an 18% increase from 2023 despite New York having the highest tax rate in the United States on sports betting revenue at 51%. Operators are willing to accept that rate with the state's handle being what it is, but a new law could place further limits on New York bettors.

State Assemblyman Robert Carroll's proposed legislation would limit wagering to $5,000 per person per day. It would also limit bettors to making no more than five deposits in a day and would introduce restrictions on advertising of sports betting. This would include promotions for different sportsbooks during sports events, since the proposed time slot for these restrictions is from 8 a.m. to 10 p.m. ET. The bill is being touted as a health and safety measure against problem gambling.

Read More: https://www.cbssports.com/betting/news/are-new-york-bettors-about-to-get-hit-with-daily-wagering-limits/


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