New York Closes in on Becoming First State Requiring Monthly Statements For Sports Betting Customers

• The New York Assembly unanimously approved a bill requiring licensed sports betting operators to send monthly statements to customers
• The bill this week advanced to a third reading on the Senate floor
• If approved, monthly statements will be required to include the total amount of funds deposited, bet, won and lost in a month

New York is on the precipice of becoming the first state to require online sports betting operators to send monthly sports betting statements to their customers.

Assembly Member Rebecca Kassay‘s (D-4) bill,  A10329, requiring New York online sports betting operators to electronically provide monthly invoice statements to customers about their betting activity, this week advanced to a third reading on the Senate floor.

The New York Assembly unanimously approved the bill in March by a 143-0 vote.

One Vote Away From Heading to Governor

The legislation is a Senate vote away from being sent to Gov. Kathy Hochul (D) to potentially be signed into law. The Senate Racing, Gaming, and Wagering Committee unanimously approved the bill by a 7-0 vote on May 20 to send it to the Senate floor.

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 statements are readily understandable.”

Potentially First State to Require Statements

If approved and signed into law by Gov. Hochul, the new law will go into effect on Jan. 1, 2027.

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.

Other states are considering similar bills, but New York would likely be the first to legalize such a piece of legislation. A Senator of their neighbor to the south, New Jersey, just recently introduced a bill requiring licensed operators to send similar reports to customers.

Sen. John F. McKeon (D-27) introduced S4280, requiring operators to provide users with at least one statement a month detailing their sports betting and iGaming activity by push notification.

The bill is currently in the Senate State Government, Wagering, Tourism and Historic Preservation Committee.