Bill > A06013

This bill amends New York's sports wagering law to expand the definition of sports wagers to include things of value beyond just cash, modify the licensing requirements for mobile sports wagering operators, and establish a graduated tax rate structure based on the number of operators in the market. Specifically, the bill requires the state to have at least fourteen mobile sports wagering operators by January 31, 2026, and sixteen operators by January 31, 2027. The tax rate for mobile sports wagering will now decrease as more operators enter the market, ranging from 64% for 4-5 operators down to 25% for 15 or more operators. The bill also introduces provisions for promotional wagering credits, allowing operators to exclude wagers made with these credits from their gross revenue calculations. Additionally, the legislation includes requirements for platform providers to pay a one-time fee of $25 million, and individual operators to pay a $50 million fee. The bill aims to create a more competitive and diverse mobile sports betting market in New York, with provisions to encourage minority participation and maximize long-term revenue for the state.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A6013