Requires mobile sports wagering operators to share monthly invoice statements to authorized consumers

◆ The sponsor's argument

Why Joseph P. Addabbo Jr. says this is needed

Mobile sports wagering has expanded at an unprecedented pace in New York, placing a full-scale gambling platform in every pocket. While the industry generates substantial state revenue, data is showing a troubl- ing pattern of problem gambling, as this new digital structure facili- tates more impulsive and frequent wagering activity by New Yorkers. Consumers do not automatically receive a clear and consolidated picture of their total wins and losses, time spent gambling, or reliance on promotional credits. Unlike traditional financial markets, where monthly statements are a basic consumer protection standard, sports bettors must currently piece together fragmented transaction histories to understand the totality of their betting behavior. This lack of concise transparency disproportion- ately affects individuals vulnerable to gambling addiction, who may not recognize the scale of their activity in real time. This legislation establishes a straightforward transparency safeguard. By requiring standardized monthly account statements, bettors receive the same type of itemized reporting expected in banking, credit, and other regulated industries. Clear summaries of deposits, wagers, net losses, and time spent on the platform empower consumers to make informed decisions and identify warning signs earlier. This legislation also strengthens New York's responsible gaming frame- work by embedding self-exclusion tools and problem gambling resources directly into the reporting structure. Making these supports visible within the monthly statement ensures that assistance is accessible at the moment reflection occurs, when bettors are most likely to reassess their behavior. New York has positioned itself as a national leader in mobile sports wagering. With that leadership comes an obligation to modernize consumer protections alongside market growth. This legislation does not restrict lawful wagering, but rather establishes clear transparency standards that promote accountability and informed participation, ensuring that New York's mobile wagering system operates responsibly with meaningful consumer protections.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.