A lawmaker in the state of New York has introduced a new bill that would put regulations on the sportsbetting bonuses that books are offering their customers in the Empire State, with the goal of limiting "predatory sportsbook bonuses".
The bill is formally known as Senate Bill 9605 and was introduced by Senator Pete Harckham. It was introduced and has verbiage that dictates that the New York State Gaming Commission needs to "promulgate rules and regulations regarding predatory sportsbook bonuses in mobile sports betting, including but not limited to, deposit, matching, risk-free betting, free money, free bets, site credits and profit boosts".
The bill as introduced is very vague, as there are no specific rules or action that the regulator needs to take to curb these promotions.
New York has quickly become the largest sportsbetting market since its launch in January of this year, with billions in wagers being processed since that time.
Senate Bill 9605 is being referred to the Senate Rules Committee, and if it passes through there it will expand to the Senate as a whole for debate and a vote.
Casino Listings News will update readers as we learn more.