New York Bill Proposes Monthly Profit and Loss Reports for Bettors

Key Points

• A New York bill would force betting apps to send monthly profit and loss statements to users.
• Reports must show spending, time played, bonuses used, and lifetime betting history with help links.
• Other states like Massachusetts and New Jersey use different safety rules instead of monthly invoices.

A fresh bill in the New York State Assembly would force mobile sports betting firms to send bettors monthly statements that list profits and losses. On 24 February, Assemblymember Anna Kassay filed Assembly Bill 10329, and lawmakers then moved it to the Racing and Wagering Committee for review. While the proposal runs short in length, it could still reshape how New York oversees its vast mobile betting market. At present, regulators mainly receive operator reports, yet this plan would deliver clear financial figures straight to each bettor. Lawmakers would change the state racing and wagering law to make these disclosures a binding legal duty for licensed operators.

Monthly Betting Statements Would Show Full Account Activity

Each company would send an electronic monthly statement to every authorised user, and the report would record all account activity from the previous calendar month. Operators must provide this statement within fifteen days after the month ends, while push alerts would notify users and keep the document stored in their accounts. Lawmakers intend this invoice to serve as a monthly signal of total spending that bettors cannot overlook. Required information would cover total deposits, overall wagers, net outcomes, and the time users spent logged into the platform. The reports would also include every bonus, promotional credit, or free bet used during that period so users grasp their full betting behaviour.

The proposal would also permit the New York State Gaming Commission to set rules that standardise the format and wording used in these statements. Officials want the information to stay clear and readable, instead of sitting behind industry terms that often confuse ordinary users. Each report must also display clear details about problem gambling support and voluntary self-exclusion programmes available in New York. Operators would provide bettors with full access to their lifetime wagering history, which would end the monthly reset that hides long-term losses. Through this method, lawmakers treat mobile betting accounts more like bank or credit card accounts that require regular financial statements.

Monthly Statements Aim to Curb Impulsive Mobile Betting

Supporters hold that a monthly record showing time spent and money lost could reduce impulsive betting behaviour on mobile platforms. They also recognise that, even if the governor signs the bill, the rules would begin on 1 January of the following year. This delay would allow regulators and companies to prepare their systems. Before reaching that point, the Assembly committee must first approve the proposal. Then lawmakers would decide whether it moves ahead to a full vote.

Most legal markets still leave the task of tracking gambling finances to the consumer, although some states have adopted partial steps that reflect this plan. In Massachusetts, regulators instruct operators to issue detailed account statements only when a bettor makes a direct request. That framework grants access to a one-year history, yet it does not send automatic monthly reports to users as the New York proposal would. At the same time, New Jersey has introduced Senate Bill 3461, which would prohibit credit card gambling and require each operator to appoint a responsible gaming officer. Regulators there place greater emphasis on data monitoring and artificial intelligence tools that identify risky betting patterns in real time rather than issuing monthly financial invoices.