New York Senate Bill S08433

New York 2025-2026 Regular Session

• Introduced: 6/11/25
• Refer: 6/11/25

Caption

Relates to wagers on certain horse racing events; authorizes agreements between a mobile sports wagering operator, mobile sports wagering licensee, or operator and an entity that possesses a license and that has the authority to conduct pari-mutuel wagering on the form of racing involved in the relevant horse racing event, involving wagers to be made solely by residents of the state of New York while located within New York, and subject to the approval of the commission.

Impact

This legislation is poised to significantly reshape the landscape of sports wagering in New York by establishing a formal structure for mobile sports betting on horse racing events. The expansion of betting options is expected to boost state revenues and promote greater transparency and accountability in the wagering process. This framework will provide a clear set of rules for operators and stakeholders in the horse racing industry, including provisions to protect consumers and maintain the integrity of the races. However, the bill also stipulates that any new wagering activities must adhere to the regulations set forth by state governing bodies, thus ensuring regulatory oversight into the evolving wagering environment.

Summary

S08433 relates to the regulation of wagers on specific horse racing events in New York State. The bill introduces provisions for new forms of sports wagering, specifically fixed odds betting, which allows wagers to be placed solely by residents of New York while they are physically present in the state. Additionally, it facilitates agreements between mobile sports wagering operators and entities authorized to conduct pari-mutuel wagering, thereby modernizing the state's approach to betting on horse racing. The bill also places such operations under the oversight of a designated commission to ensure compliance and integrity within the industry.

Contention

Despite the potential benefits, the bill has not been without contention. Critics argue that the introduction of fixed odds wagering may lead to complications in enforcement and raises concerns regarding the potential for increased gambling addiction among vulnerable populations. Additionally, stakeholders within the racing ecosystem may have differing opinions on the distribution of wagers and revenue generated from these new betting mechanisms. Supporters believe this framework offers necessary modernization to the betting practices in New York, arguing it could enhance the economic viability of the horse racing industry.