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The horse-racing law in New York may be getting ad restrictions in a landmark new amendment.
The Bill
Introduced into the State Senate by Democrats Leroy Comie and Luis R Sepulveda, the bill is designed to amend racing, pari-mutuel wagering, and breeding laws to require all gambling and sports betting advertisements to include warnings on the potential harms of gambling.
Landmark
This represents the first ad limit on betting or gambling activity of any kind in America.
Language
The pending vote addresses an amendment that “requires all advertisements for gambling and sports betting to include warnings about the potentially harmful and addictive effects of gambling; requires the state gaming commission to cooperate with the commissioner of addiction services and supports to ensure that all advertisements for gaming activity state a problem gambling hotline number.”
Application
The proposed amendment would also apply to mobile sports wagering licenses and take effect 16 days after becoming law.
Journey
The bill now moves to the Senate's racing, gaming, and wagering committee on Thursday.
Predatory Sportsbook Bonuses
The proposal comes on the heels of another new anti-gambling initiative under review, which would curtail what has been referred to as “predatory” sportsbook bonuses--referring to overaggressive bonus systems that tempt people in the same way that overaggressive advertising does--by preying on the compulsive behavior that causes addiction.
History
The trend of US regulators and lawmakers toughening their treatment of the legal sports betting industry is a further legitimization of iGaming in America within a market that started being regulated only in 2018.
Recent Trend
Recent spurs to legislation curtailing the aggressiveness of gambling marketing in America are a direct result of increasingly frequent news about overaggressive marketing, increasing the possibility of fines and stricter tax rules for US sportsbook operators.
Leadership
Following the January 2022 launch of mobile wagering, New York state has not surprisingly become the leading market for legal sports gambling in the US. The total betting volume for the nine online sportsbooks in New York for December was a robust $1.6 billion. This leading figure suggests that policy measures in the most successful US gambling state will be emulated by other states.
Other US Examples
As far as precedent, the state of Ohio introduced regulations requiring advertisements to “clearly and conspicuously” contain a helpline number and a message to prevent problem gambling.
Outlook
As the leading iGaming market in the United States, the creation of New York of effective preventative legislation to avoid problem gambling in the state can protect the entire country.
