New York is on the verge of making sports betting history
If Governor Hochul does go ahead and sign the bill into law, it would go into effect as of January 1, 2027. New Yorkers with sports betting accounts would receive their monthly betting statements via push notifications on their smartphones. The law would require that they be delivered no later than the 15th of every month.
Statement details would include the player's total deposits, total amount of money bet, total money won, and total money lost for the course of the month. There would also be an indication of exactly how much time each player had spent logged into the sports betting app during the month.
Players would also be able to access their entire lifetime betting history with the sportsbook. Other elements included would be an itemized list of bonuses and site credits accepted and used by the player. With each betting statement, every betting site would be required to share with the customer all of the available responsible gambling tools available through the site.
Many major sports betting apps operating in the U.S. market will already supply this information to their customers upon request. However, this law would make it mandatory for the data to be supplied to every player in New York.
"Equipping New Yorkers with key data surrounding gaming activity and behavior bolsters informed participation and is critical in reducing problem gambling in our communities," Assembly Member Rebecca Kassay said in a news release,
according to CBS News.
Kasay is the sponsor of the bill.
"This bill modernizes consumer protections to ensure that mobile sports betting platforms operate responsibly in our state while prioritizing the well-being of our residents," she said.
This bill has strong bipartisan support in the New York State Assembly
Right from the outset, bill A10329 has enjoyed solid bipartisan support. Originally, the New York State Assembly backed the bill in March by a unanimous 143-0 vote.
Moving forward, the state's Senate Racing, Gaming and Wagering Committee approved the bill by another unanimous vote (7-0) on May 20 to send it to the Senate floor. The bill was next voted on by the Senate and was approved by a 61-0 vote.
With such unanimous support throughout the process, it's hard to imagine that Governor Hochul won't sign the bill into law.
Other states are considering making a similar move
New York would be the first state to make this move to require mandatory betting account statements. However, the Empire State may soon have company.
In New Jersey, Senate Bill 4280 was
introduced by Senator John McKeon. It proposes requiring online sportsbooks and iGaming operators to send patrons mandatory monthly win-loss activity statements via push notifications
In Pennsylvania, Rep. Joe Webster is drafting similar legislation. It would require sportsbooks to send users a monthly notice showing how much they have wagered on the site.
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