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A new bill introduced in New York could bring major changes to the betting industry. The proposal aims to ban all live betting in the state, including in-play esports wagering.
The bill was introduced by Linda Rosenthal. Known as Assembly Bill A9343, it would stop casinos and mobile betting platforms from accepting live wagers while a match is already in progress.
The bill has now been sent to the Assembly Racing and Wagering Committee, where it will be reviewed and debated before any further action is taken.
What the Bill Wants to Change
If this bill is passed, betting companies in New York would no longer be allowed to offer in-play betting. This includes live wagers on traditional sports and esports matches.
In-play betting is a huge part of the betting market. In the United States, it often accounts for around half of all wagers placed. Removing this option would be a major restriction for sportsbooks operating in New York.
Rosenthal believes live betting increases the risk of gambling harm. In her statement, she explained that fast-moving betting markets can encourage impulsive behavior and problem gambling. She said the state has a responsibility to protect consumers and address growing public health concerns.
Esports Betting Also Affected
Live esports betting would also be impacted by the bill. In-play wagering is especially popular in games like League of Legends and Dota 2, where matches shift quickly and odds change often.
Recent reports showed how powerful live esports markets can be. A trading bot on the prediction platform Polymarket reportedly turned a small amount of money into a very large profit by betting on live esports matches. Stories like this have added fuel to the debate around regulation.
Another Bill Targets Prediction Markets
At the same time, New York lawmakers are also looking at prediction markets. Another proposal, Assembly Bill A9251, was introduced by Clyde Vanel. This bill is also known as the ORACLE Act.
The ORACLE Act would block New York users from placing bets on several types of prediction markets. These include political events, catastrophic events, and athletic events. It is not yet clear whether esports would fall under the athletic events category.
This bill is currently being reviewed by the Assembly Consumer Affairs and Protection Committee.
New York’s Massive Betting Market
New York is the biggest sports betting state in the country. In the last financial year, players in the state wagered nearly 24 billion dollars on sports.
That number is expected to rise even higher this year. With only part of the year counted so far, betting totals are already close to 17 billion dollars. By the end of the financial year, the total could cross 25 billion dollars.
Live betting alone is believed to account for more than 10 billion dollars of that amount. A ban on in-play wagering could reduce betting activity and also lower tax revenue for the state. New York currently taxes sportsbooks at a very high rate, bringing in over 1 billion dollars in revenue last year.
What Happens Next
For now, the bill is still in the early stages. It must pass committee discussions and gain enough support in the Assembly before moving forward.
If approved, it would be one of the strongest restrictions on live betting in the United States. Whether lawmakers are willing to risk reduced tax revenue to address gambling concerns remains to be seen.
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