Dramatic limits in NY bill; ECGC review, more

Welcome to iGB’s State of the Union, your authoritative source for the latest and most significant stories in North American sports betting. In this edition, we will delve into noteworthy updates, legislative changes, and intriguing developments that impact the gambling landscape.

New York Assemblyman Proposes Comprehensive Sports Betting Restrictions

In a bid to address rising concerns over responsible gambling, New York Assemblyman Robert Carroll has introduced a groundbreaking bill that aims to implement stringent regulations on sports betting activities within the state.

The proposed legislation sets a daily wagering limit of $5,000 (approximately £3,760/€4,389) for sports betting accounts. Additionally, it imposes restrictions on the frequency of account deposits, limiting the number of transactions allowed within a 24-hour period. A significant aspect of this bill is its focus on sportsbook advertising, aiming to curb promotional tactics that critics argue exacerbate problem gambling.

One specific provision mandates that if a bettor’s lifetime deposit crosses the $2,500 threshold within a single account, the sportsbook must suspend any further wagering. This pause will allow the bettor to acknowledge their deposit activity and consider setting responsible gaming limits or potentially closing their account.

This bill surfaces concurrently with the Massachusetts Gaming Commission’s ongoing evaluation of wagering trends, where discussions have centered on limiting the betting activities of certain players. This proactive legislative approach signifies a shift towards heightened accountability and protection for bettors, addressing the rapid expansion of the sports betting market.

USMNT’s Weston McKennie Among Players Under Scrutiny in Betting Investigation

In a significant development within the professional soccer sphere, US Men’s National Team midfielder Weston McKennie is reportedly among thirteen players being investigated by Italian authorities in a wide-ranging probe into illegal betting activities.

The investigation had begun following suspicions raised in the cases of two players, one of whom, Sandro Tonali, received a 10-month suspension for participating in illegal betting on matches. Tonali’s actions, alongside similar infractions from teammate Nicolo Fagioli, have sparked serious discussions about the risks associated with gambling in professional sports.

As of mid-April, there is no evidence directly linking McKennie to betting on soccer matches; however, he and other players are being scrutinized for their involvement in online poker and sports betting through unauthorized platforms. Notably, this investigation coincides with increasing calls from lawmakers, including Tennessee Senator Marsha Blackburn, urging a thorough examination of illegal gambling’s ties to organized crime, particularly in light of the upcoming 2026 FIFA World Cup.

North Carolina Legislation Seeks to Double Sports Betting Tax Rate

North Carolina is positioning itself to significantly increase its sports betting tax rate under the proposed bill SB 257. This legislation aims to raise the current tax from 18% to a substantial 36%, aiming to capitalize on the burgeoning sports betting market in the state.

Since the launch of regulated sports wagering last year, North Carolina has already generated approximately $135 million (£101.8 million/€118.7 million) in tax revenue. The state has enjoyed an additional monthly influx of $10.4 million, allowing for reinvestment into critical public institutions.

The proposed tax increase includes earmarking a percentage of the revenue for the athletic departments of major public universities, specifically the University of North Carolina and NC State, with an anticipated allocation of $24.4 million to support student athlete initiatives.

This move mirrors trends seen in states like Illinois, which has introduced progressive tax policies, and Massachusetts, where legislation is poised to elevate rates significantly. As states continue to refine their taxation frameworks, these changes are likely to influence the competitive landscape of sports wagering across the nation.

Alberta Advances Legislation to Legalize Sports Betting

In Canada, significant progress towards legalizing sports betting has been made in Alberta with the recent advancement of the iGaming Alberta Act, spearheaded by Minister Dale Nally.

Having successfully passed its second reading, the bill aims to establish a robust framework for online gaming, modeled after successful implementations in Ontario. Despite previous delays in the legislative process, stakeholders are optimistic about a potential market launch in 2024.

Bill 48 will now proceed to the Committee of the Whole, laying the groundwork for further amendments regarding Alberta’s online gaming landscape. Industry experts, such as JMP Securities, project that Alberta could generate up to $700 million in annual revenue from legalized online gambling, marking a substantial economic opportunity for the region.

NCAA Sanctions Ex-Baylor Official for Violating Sports Betting Regulations

A former director at Baylor University, Sam Hancock, is facing serious repercussions after being found guilty of making prohibited wagers on daily fantasy sports (DFS) that contravened NCAA regulations.

Hancock has received a two-year show-cause order from the NCAA for placing nearly 3,000 wagers totaling approximately $45,979, including bets on Baylor-related events during his tenure at the university. This violation of Bylaw 10.3, which prohibits non-athletics staff from engaging in sports wagering, highlights the ongoing challenges within compliance and integrity in intercollegiate athletics.

The NCAA’s sanction represents a critical example of how regulatory bodies are enforcing compliance to uphold the integrity of collegiate sports while reinforcing the importance of responsible engagement with gambling activities.