New York Considering Mandatory Monthly Sports Betting Statements For Customers

• A New York Assembly Member has introduced a bill requiring licensed sports betting operators to send monthly statements to customers
• The monthly statements will be required to include the total amount of funds deposited, bet, won and lost in a month
• Statements will be sent no later than 15 days following the end of each calendar month

A New York Assembly Member is hoping to make the financials of sports betting for customers in the Empire State more transparent.

Assembly Member Rebecca Kassay (D-4) recently introduced bill A10329, which requires New York online sports betting operators to electronically provide monthly invoice statements to customers about their betting activity.

The bill currently sits in the Assembly Racing and Wagering Committee.

Financial Transparency for New York Customers

Kassay’s legislation requires each of New York’s licensed operators to provide a financial statement to registered users through push notifications no later than 15 days following the end of each calendar month.

According to the bill, the operators must include the following financial details to each registered user:

• Total amount of deposited funds in a month
• Total amount bet during a month
• Total amount of winnings
• Total amount of losses
• The net gain or loss incurred by the authorized sports bettor
• The total number of bets placed
• Total amount of time the sports bettor was logged into the online sports betting platform
• An itemized account of any promotional credits, bonuses, or free bets used
• A prominent and clear disclosure of responsible gaming resources, including details on the state’s voluntary self-exclusion programs
• Access to the authorized sports bettor’s lifetime wagering history

The bill also gives the New York State Gaming Commission the ability to “promulgate regulations establishing standardized formatting, clarity requirements, and any additional disclosures necessary to ensure such statement are readily understandable.”

Information Typically Already Available

The information required to be sent to customers through this new piece of legislation is typically already available through the major sports betting apps. Both DraftKings and FanDuel feature this type information for each user directly on their online sports betting platforms.

The legislation, however, will require each of these companies, and the seven other licensed sports betting companies in the state, to electronically send the monthly financial statements to each user rather than leaving it to their discretion to access the information themselves.

If approved and signed into law by Gov. Kathy Hochul (D), the new law will take into effect on Jan. 1, 2027.