New York is Considering a Bill to End Limits on Sports Bettors

Bettors in the Empire State could be in for a significant change.

The New York Assembly is currently reviewing the Fair Play Act, which would end the ability for sportsbooks to limit bettors on win streaks. Currently, operators have been found to drop wagering limits for hot bettors to less than $1. 

According to bill sponsor Assemblymember Alex Bores, this creates an unfair advantage for sportsbooks. Their ability to assign bet limits without restrictions makes it even more challenging to beat the house over the long run. It also allows them to pick and choose which bettors they want, making it harder for professional or for-profit players to find sportsbooks to accept their bets.

While the Sports Betting Alliance and industry operators have yet to respond to the proposal, the opposition is expected to be fierce. They have previously supported the bet limits, claiming it is crucial to protect themselves from significant losses. Those losses would lead operators to raise their odds and prices to adjust, leaving bettors as the actual victims.

While states like Massachusetts have explored bet limits in the past, sportsbooks have generally refused to engage in discussions. They claim that their strategy for setting limits is a trade secret and don’t want to be forced to share it with their rivals.

What About Losing Bettors?

There is a question of whether sportsbooks are as liberal with this policy for losing bettors. Bet limits can be a powerful tool to help prevent those struggling with problem gambling, stopping them before too much damage can be done. 

While regulators can gather data on betting limits for losers, it can be far more difficult to obtain similar data for winning customers. Sportsbooks are unwilling to share the data, making it impossible to determine how sportsbooks approach each situation.

While Massachusetts struggled to make significant progress against industry resistance, New York is the largest sports betting market in the US. Operators have put up with high taxes to obtain one of the market’s coveted licenses, a feat they have not achieved in other markets. 

With more influence, New York could force operators to share numbers for bet-limiting. If they do, it will finally clear up how sportsbooks limit bettors. If they don’t, it will only increase the suspicion around the practice.