New York Moves to Expand Betting Options with Prop Bets and Seasonal Wagers
New York lawmakers approved a bill that legalizes additional types of wagers. The Senate Finance Committee unanimously passed SB 2616, a bill that would allow new betting markets, including prop bets and futures wagers.
What’s Changing?
Under SB 2616, New York sportsbooks will be able to offer:
- Seasonal event wagers
- Future bets on major sports awards, such as the Heisman Trophy, Cy Young Award, and NFL MVP
- Coin toss bets before a game
These betting options have been restricted in New York, making it one of the few states to limit prop bets and award-based wagers. If fully approved, the new law would bring New York in line with other major betting markets.
What’s Next for the Bill?
SB 2616 still needs to pass the full Senate, gain approval in the House of Representatives, and receive Governor Kathy Hochul’s signature before becoming law.
Additionally, the New York State Gaming Commission will have the power to determine whether any of these new betting options pose risks to sports integrity.
Why This Matters for New York’s Betting Market
New York has set national records in sports betting activity, generating the highest-ever annual handle and a record-breaking single month in January 2025.
Expanding betting options would likely increase engagement and bring in additional tax revenue for the state.
State Senator Joseph Addabbo Jr., a key advocate for gaming expansion, has been leading efforts to broaden New York’s betting laws.
His push for more flexible wagering options aligns with the state’s continued dominance in the U.S. sports betting industry.
In addition to SB 2616, the Senate approved S2613, a bill that would protect the privacy of lottery winners. If passed, the law would require the state to keep winners’ identities confidential unless they choose to go public.
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