Will New York limit sports betting bonuses in 2023?

Share:

On the 20th of November, the New York Times targeted the gambling industry with an “Investigation of Sports Betting” series. The series focused on the progression of online betting in the United States, highlighting problems with gambling addiction and college betting. One piece in the series focuses on regulation and is called “Cigars, Booze, Money: How a Lobbying Blitz Made Sports Betting Ubiquitous.” The series has sparked lots of debates on lobbying practices and marketing strategies.

American Gaming Association retaliates

Shortly after, the American Gaming Association (AGA) criticized New York Times for their articles. AGA claimed that The New York Times had mischaracterized the articles with an agenda. A week later, AGA released a report detailing that most of the American gambling activities go to unlicensed operators. The issue of illegal gambling is much broader with sports betting compared to iGaming. Currently, sports betting is legal in 36 states, while iGaming is available in 6 states.

Asking the industry to focus on legal and safe gambling, AGA showed in their report that most of the future’s problem lies with illegal and unlicensed operators. These operators encourage unrealistic and bad gambling habits, which need to be stopped. Most unlicensed operators pray on vulnerable players, while regulated bookies and casinos value consumer protection.

senator Pete HarckhamLimited betting promotions in New York

The future of New York is on everyone’s lips, yet no one knows what will come in 2023. New York legalized online sports betting on January 8th, 2022 and has since broken monthly revenue records.

A year later, change is due to happen again in January 2023. New York will be handing out three land-based casino licenses to be built in the state and further discussing iCasino (iGaming). Now, a new bill to limit betting promotions has also been introduced to be discussed in January.

In response to the New York Times series, 40th District State Sen. Pete Harckham introduced a bill limiting bonus credit to sportsbook players in New York. The bill is named 9605 and will be discussed by New York Gaming Commission (NYGC) on January 6th. The bill would allow NYGC to implement rules and regulations regarding how much bonus players can get. M.r Harckham also suggested that we look to regulations in UK or Canada on how to limit promotions. Right now, New York has no promotion limits, and Caesar famously offered up to $3000 in first deposit bonus when launching.

Anything can happen, but we will most likely know why in a few years. We at Online Gamblers look forward to seeing the regulatory process in New York moving forward.

Catie Di Stefano has worked in the gambling industry since 2011 for major brands like Hard Rock Hotel & Casino, Gaming Innovation Group and Betsson Group. She started in customer support at age 19 and has since worked her way through VIP, CRM and Marketing. Today, Catie is passionate about educating players on consumer rights and the best approaches for legal play in the United States as the Director of Community Marketing at OnlineGamblers.com. Catie was born in Indonesia but grew up in Sweden. Currently, she resides in Spain with her two daughters.

Related news

Show all news
1

Betr Moves Closer to Maryland Launch with Initial License Approval

Learn about Betr getting an initial approval for Maryland sports betting license, its challenges and expansion plans. Click here for more!

2

New York Lawmakers Push Prop Bets for Fantasy Sports Revenue

Read how New York lawmakers are considering legalizing prop bets for fantasy sports to enhance state revenue and curb illegal gambling.

3

DraftKings’ Micro-Betting Expansion with Simplebet Rumors

Check out the latest rumor swirling around the sports betting world: DraftKings may be on the verge of acquiring Simplebet. Click here!