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NY S08433
Bill
Status
6/11/2025
Primary Sponsor
Joseph Addabbo
Click for details
AI Summary
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Authorizes mobile sports wagering operators to accept fixed odds wagers on horse racing events in New York, which are currently classified as prohibited sports events unless offered through a fixed odds sports wagering agreement
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Requires fixed odds sports wagering agreements between mobile sports wagering operators and licensed racing entities (thoroughbred or harness) with approval from the Gaming Commission and applicable horsemen's associations
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Establishes revenue allocation from fixed odds wagering agreements: two-thirds to the thoroughbred industry and one-third to harness racing associations and corporations
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Mandates that 43% of allocated payments go toward enhancing purses and 7% to breeding development funds for both thoroughbred and harness racing
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Takes effect April 1, 2026 and automatically expires March 31, 2029
Legislative Description
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.
Last Action
REFERRED TO RACING, GAMING AND WAGERING
1/7/2026