Bill > A08724

This bill amends the New York racing, pari-mutuel wagering and breeding law to prohibit mobile sports wagering operators from allowing authorized sports bettors to deposit or withdraw funds using gift certificates, open loop gift certificates, or e-wallets. The bill defines an e-wallet as a software-based system or application that can store and access funds from various financial accounts. Currently, authorized sports bettors can deposit and withdraw funds through various electronic payment methods, including credit and debit cards, with a $2,500 annual limit on credit card spending. The new provisions specifically target additional payment methods by preventing the use of gift certificates and e-wallets in mobile sports betting accounts. The bill also adds a formal definition of "e-wallet" to the existing law, clarifying what types of digital payment systems are prohibited. This legislation aims to potentially increase transparency and control over financial transactions in mobile sports wagering by limiting the ways bettors can fund their accounts.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A8724