Senator Joseph Addabbo’s bill S05935 passed through the Senate in a 57-2 vote last week before its companion A6745 was approved in a full vote in the Assembly on Tuesday with no opposition. It is likely Hochul will approve the proposal before the end of the current session, which was extended to allow more legislation to be passed this month.
New York Bill Banning Sweepstakes Casinos Ready For Governor ApprovalThe bill looks to prohibit a platform that “utilizes a dual-currency system of payment allowing the player to exchange the currency for any cash price, cash award or cash equivalents, and simulates casino-style gaming”. Operators that violate the rules face fines ranging from $10,000 to $100,000.
SGLA calls on Hichul to veto the bill
The Social Gaming Leadership Alliance (SGLA) has been active since its formation last month in campaigning against legislation targeting sweepstakes casinos.
New York Bill Banning Sweepstakes Casinos Ready For Governor Approval“Nearly every form of online gaming we know today, including companies like FanDuel, a New York-based success story, began as pre-regulated concepts. This legislation criminalizes that innovation cycle.”
Many operators have already exited New York following the introduction of the bill. A series of companies announced the end of their operations in April and VGW, the company that set up the SGLA, announced its withdrawal from the state last month.
Even without the legislation, New York’s Attorney General Letitia James confirmed that 26 unregulated gambling operators were sent cease-and-desist letters last week.
Growing number of states banning sweepstakes
New York Bill Banning Sweepstakes Casinos Ready For Governor ApprovalReaffirming their ability to target unregulated gambling platforms, the Board announced it had issued 40 cease-and-desist letters to a number of sweepstakes platforms and offshore betting sites on Tuesday.
Similarly, the Mississippi Gaming Commission announced on Tuesday that it had issued a series of cease-and-desist letters to unlicensed gambling companies.
New York Bill Banning Sweepstakes Casinos Ready For Governor Approval are yet to be legalized, but the sports betting industry in the state generates the most revenue in the country, over $2 billion last year.Unregulated platforms are estimated to have generated more than double that. A report by Yield Sec suggested unregulated casinos in the Empire State generated $4.3 billion in 2024.
Adam is an experienced writer with years of experience in the gambling industry. He has worked as a content writer and editor for five years on sites such as Oddschecker, CoinTelegraph and Gambling Industry News, bringing excellent knowledge of the world of sports betting and online gambling. Adam focuses on emerging stories in the ever changing landscape of betting in the US. Read the latest on prediction markets, changing legislation, and sweepstakes.
