New York Close to Mandating Monthly Sportsbook Statements

A big change may be coming for sportsbooks in the Empire State. 

The New York Senate approved A10329, sending it to Governor Kathy Hochul for review. If she signs off as expected, it would make the state the first to mandate monthly sports betting statements for residents. Sportsbooks would need to provide all relevant data so residents can fully understand their spending, win rate, and more.

If passed, the requirement would begin on January 1, 2027.

Bill Requires Ten Statistics for Statements

The bill’s language requires sportsbooks to include ten different requirements in monthly statements. The hope is that these will help bettors understand their habits and detect signs of problem gambling.

Each sportsbook would need to provide the following to comply with the law:

• Total funds deposited
• Total funds wagered
• Total winnings
• Total losses
• Net gain/loss
• Number of wagers placed
• Time spent logged in to the platform
• Total of credits and bonuses used
• Disclosure of responsible gambling resources
• Lifetime wagering history

The New York State Gaming Commission would regulate the statements and ensure the proper information is provided.

No Opposition for Bill

One reason why Governor Huchel is expected to sign off is the lack of opposition to A10329. The bill passed the state Assembly by a vote of 143-0 in March and passed the Senate by a 61-0 vote. The bill also passed each committee unanimously.

There are only a few things Republicans and Democrats can agree on these days, but problem gambling is quickly becoming one of them. 

The unanimous vote shows how strongly lawmakers from both parties support this proposal, giving hope that it could make a significant impact.

More States Could Join New York

While New York would be the first state to mandate monthly sports betting statements, neighboring New Jersey isn’t far behind.

The Garden State’s Senate is currently considering S4280, which would require operators to provide at least one sports betting statement to customers per month. The bill is in the early stages, but it could eventually make New Jersey the second state to add the requirement.

Other betting markets across the US have been desperately searching for ways to curb problem gambling. However, many proposals have fallen flat because of their projected impact on the industry's tax revenue. Monthly statements wouldn’t directly impact that revenue, making it an appealing option for those same markets.