New York Weighs Bill to Cap Daily Sportsbook Deposits

New York may soon become one of the strictest sports betting jurisdictions in the U.S. A new bill introduced by Assembly member Robert Carroll would place sweeping restrictions on daily deposit limits, advertising, and payment methods used by sportsbooks across the state. The legislation aims to promote responsible gambling and reduce consumer harm by enforcing a $5,000 daily deposit and wager cap, banning credit card use, and restricting sportsbook promotions. Operators, stakeholders, and consumers alike should track this bill closely—it could reshape the rules for one of America’s largest sports betting markets.

New York Proposes $5,000 Daily Deposit Cap, Credit Card Ban, and Tight Ad Rules for Sportsbooks

3 Key Points:

1. Assembly Bill A7962 proposes a $5,000 daily deposit and wagering limit for sportsbook accounts.
2. The bill would ban the use of credit cards for betting and restrict certain advertising language and hours.
3. If passed, New York would impose some of the toughest responsible gambling standards in the U.S.

The New York Assembly Committee on Racing and Wagering is reviewing Assembly Bill A7962, a sweeping proposal aimed at reshaping the state’s legal sports betting environment. Introduced by Assemblymember Robert Carroll, the bill focuses on responsible gambling, payment restrictions, and advertising reform.

If passed, New York would join a small group of states imposing strict deposit limits and advertising controls—a notable shift for a jurisdiction that currently leads the nation in sports betting revenue.

Deposit and Wagering Caps

At the heart of the bill is a proposal to cap daily deposits and wagers at $5,000 per user across both online and retail sportsbooks. This move is designed to limit impulsive gambling behaviors and encourage responsible play.

In addition, once a bettor’s lifetime deposits exceed $2,500, operators would be required to notify the user and pause wagering activity until the customer acknowledges the threshold. At that point, the bettor could choose to set voluntary limits or close the account entirely.

Ban on Credit Cards and Bonus Language

In a bold move aligned with similar measures in Australia and the UK, the bill seeks to ban the use of credit cards for gambling. Bettors would need to fund their accounts using debit cards or direct bank transfers, promoting more mindful spending.

Advertising also comes under heavy scrutiny. The bill would ban operators from using words like “bonus,” “bonus bet,” or “no sweat” in promotions. Additionally, odds boosts and similar offers would be restricted, and operators would be barred from running ads during live sports or between 8 a.m. and 10 p.m. daily.

These measures are designed to protect minors and vulnerable populations from being exposed to aggressive sportsbook marketing tactics.

Legislative Process and Market Context

The bill is currently under consideration in the Assembly Committee. If it advances, it will proceed to the Senate Committee, followed by a vote in the Assembly and Senate Floors before landing on the Governor’s desk.

Assemblymember Carroll has introduced more than 150 bills during his legislative career, with 17 signed into law, reflecting his proactive stance on consumer protection issues.

New York’s sports betting market is one of the most robust in the U.S. In 2024 alone, the state posted a $23.9 billion handle and $2.14 billion in gross gaming revenue, according to the New York State Gaming Commission. Despite—or perhaps because of—this massive success, lawmakers are increasingly focused on ensuring the long-term sustainability and ethical operation of the market.

Assembly Bill A7962 represents a turning point in New York’s approach to sports betting regulation. With its proposed deposit caps, credit card ban, and advertising restrictions, the legislation reflects a growing trend toward responsible gambling oversight. If enacted, these measures could set a new precedent for other high-revenue states, balancing profitability with player protection. As debate continues, operators and consumers should stay alert—because New York’s sportsbook rules may soon change dramatically.