New York Assembly to Consider Bill to Ban on Live Betting

Big changes could be coming to the Empire State.

Assemblymember Linda Rosenthal introduced Bill A9343 for consideration this week. The bill proposes to ban live betting in New York’s sports betting market. Rosenthal hopes the bill will help address the growth of problem gambling and scandals after a turbulent 2025.

While the bill addresses a concern shared by many lawmakers, it is expected to face an uphill battle. 

A ban on live betting would result in a significant decline in tax revenue from sports betting. Live betting has become incredibly popular, especially during the NFL season. Losing that crucial funding will not be worth the risk for many, who fear bettors will simply switch to prediction markets or offshore sportsbooks.

The proposed ban joins two other bills aimed at changing the state’s massive sports betting market. One would end sportsbooks' ability to limit winning players, which they have fought to protect in other markets. The other would limit the number of players who can deposit, hoping to give those struggling with problem gambling a critical break. 

Prediction Markets Complicating Problem Gambling

Over the summer, the sports world saw several massive betting scandals uncovered. Those investigations shone a light on the growing issue and led lawmakers across the US to take action.

Bills like those being considered by the New York Assembly would help address growing concerns, but the situation is more complicated due to the rise of sports prediction markets.

The prediction market industry continues to thrive in the US, with the CFTC refusing to enforce any bans or regulations requested by the states. After starting with the basic betting markets, operators have quickly expanded their offerings. That means controversial bet types (such as live betting) could still be legally available to residents, even if bans are approved.

While prediction platforms remain mostly unregulated, bills like A9343 will struggle to find support. Fears that bettors will find legal ways around bans are too great, with many lawmakers believing that would shrink tax revenue without making a noticeable impact on problem gambling.