NY Assembly Pushes for Tougher Betting Rules: Credit Card Ban, $5K Daily Bet Limit

New York Assemblymember Robert Carroll is looking to tighten the reins on gambling statewide, introducing Assembly Bill A7962 aimed at overhauling how sports betting and horse racing operate in the Empire State, according to official documents published on the state legislature’s site.

The legislation outlines several key restrictions:

• A hard cap of $5,000 per day on total bets placed
• A $5,000 daily limit on deposits
• A complete ban on using credit cards to fund betting accounts
• A limit of no more than five deposits per day

On the marketing side, the bill would ban ads that include odds boosts or similar incentives. It would also prohibit any promotional language using phrases like “bonus”, “no sweat”, or “bonus bet”.

The bill further proposes a blackout window on gambling ads between 8 AM and 10 PM local time, as well as a total ad ban during live sports broadcasts.

It’s worth noting that operators would also be granted access to players’ full account histories under the proposal, which has now been referred to the Committee on Racing and Wagering for further review.