A 8724: Prohibits mobile sports wagering operators from enabling or otherwise permitting authorized sports bettors to deposit or withdraw funds to or from their account through gift certificates, open loop gift certificates, or e-wallets.

  
  STATE OF NEW YORK ________________________________________________________________________ 8724 2025-2026 Regular Sessions  IN ASSEMBLY June 2, 2025 ___________ Introduced by M. of A. STECK -- read once and referred to the Committee on Racing and Wagering AN ACT to amend the racing, pari-mutuel wagering and breeding law, in relation to prohibiting use of gift certificates, open loop gift certificates, and e-wallets for mobile sports wagering The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph (b) of subdivision 5 of section 1367-a of the 2 racing, pari-mutuel wagering and breeding law, as added by section 4 of 3 part Y of chapter 59 of the laws of 2021, is amended to read as follows: 4 (b) (i) Authorized sports bettors may deposit and withdraw funds to 5 and from their account on a mobile sports wagering operator through 6 electronically recognized payment methods, including but not limited to 7 credit cards and debit cards, or via any other means approved by the 8 commission; provided however, that: 9 (1) in the case of credit card payments, each authorized sports 10 bettor's account per operator shall be limited to a credit card spending 11 amount of two thousand five hundred dollars per year; [and provided 12 further, that this] 13 (2) the limitation under clause one of this subparagraph shall not 14 apply to other payment methods or to debit cards; and 15 (ii) No operator shall be authorized to provide a line of credit to 16 any authorized sports bettor. 17 (3) mobile sports wagering operators shall not enable or otherwise 18 permit authorized sports bettors to deposit or withdraw funds to or from 19 their account through gift certificates or open loop gift certificates, 20 as such terms are defined by section three hundred ninety-six-i of the 21 general business law, or e-wallets. 22 § 2. Paragraphs (bb) and (cc) of subdivision 1 of section 1367 of the 23 racing, pari-mutuel wagering and breeding law, as added by section 3 of EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11918-01-5 
 A. 8724 2 1 part Y of chapter 59 of the laws of 2021, are amended and a new para- 2 graph (dd) is added to read as follows: 3 (bb) "Suspicious wagering activity" means unusual wagering activity 4 that cannot be explained and is indicative of match fixing, the manipu- 5 lation of an event, misuse of inside information, or other prohibited 6 activity; [and] 7 (cc) "Independent integrity monitor" means an independent individual 8 or entity approved by the commission to receive reports of unusual 9 wagering activity from a casino, mobile sports wagering licensee, or 10 commission for the purpose of assisting in identifying suspicious wager- 11 ing activity[.]; and 12 (dd) "E-wallet" means a software-based system or application used by 13 an individual for payment or transfer of funds, that is capable of stor- 14 ing and accessing funds and/or account information for banking insti- 15 tutions, credit cards, and other account types with financial insti- 16 tutions. 17 § 3. This act shall take effect immediately.