Requires all withdrawal transactions made through a service provided by a mobile sports wagering licensee to be irreversible by the withdrawing consumer, the licensee or another at the consumer's request.
STATE OF NEW YORK
________________________________________________________________________
6937--A
2025-2026 Regular Sessions
IN ASSEMBLY
March 18, 2025
___________
Introduced by M. of A. VANEL -- read once and referred to the Committee
on Racing and Wagering -- committee discharged, bill amended, ordered
reprinted as amended and recommitted to said committee
AN ACT to amend the racing, pari-mutuel wagering and breeding law, in
relation to prohibiting reversible withdrawals
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 1367-a of the racing, pari-mutuel wagering and
2 breeding law is amended by adding a new subdivision 8 to read as
3 follows:
4 8. (a) All withdrawal transactions made through a service provided by
5 a mobile sports wagering licensee shall be irreversible by the withdraw-
6 ing consumer, the mobile sports wagering licensee or another at the
7 consumer's request.
8 (b) Any mobile sports wagering licensee which violates the provisions
9 of this subdivision shall incur a civil penalty of ten thousand dollars
10 per day such withdrawals are permitted to be withdrawn. Where the
11 commission determines that a mobile sports wagering licensee has engaged
12 in a persistent course of conduct in violation of this subdivision, such
13 mobile sports wagering licensee shall incur a civil penalty not to
14 exceed twenty-five thousand dollars per day such withdrawals are permit-
15 ted to be withdrawn.
16 (c) Any provision in a contract between a person and an entity which
17 eliminates or augments a person's rights with respect to the provisions
18 of this subdivision shall be void.
19 § 2. This act shall take effect on the ninetieth day after it shall
20 have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD10860-03-5
