New York Prop Betting Bill Passes Senate Committee

The biggest state for our best sports betting sites has an exciting change working through government that would see the industry expand.

New York legislators are contemplating expanding New York sports betting opportunities in the state. A new bill in which additional forms of prop bets will be permitted, Senate Bill 2616, is currently being considered by the New York State Senate.

On Feb. 11, the Senate Racing and Wagering Committee endorsed the bill, which alters the current Racing, Pari-Mutuel Wagering, and Breeding Law to include these new betting options.

If passed, the bill would permit wagering on a wide array of season-long and point-in-time outcomes and future victors of pro and college sports. In this instance, expansion would include allow betting on the Heisman Trophy odds, Cy Young odds, and NFL MVP odds.

Furthermore, the bill also suggests legalizing wagering on coin tosses before games, which has become popular, especially during the Super Bowl. 

SB 2616 is sponsored by Senator Joseph P. Addabbo, Jr., who has been one of the most vocal proponents of expanding legal gambling in New York.

The bill must now pass the full Senate before being sent to the New York State Assembly for further action. If approved by both legislative chambers, Governor Kathy Hochul’s signature would be required to become law. New York sportsbook promos are a great starting point before betting on season-long props.

New York betting market growth

New York has become one of the biggest sports betting markets in the US, featuring hundreds of millions in wagers annually. Since legalization, New York sports betting apps have generated substantial tax revenue, with a significant portion allocated to public schools and educational programs.

In January, New York set a new sports betting handle record, with sportsbooks taking more than $2.48 billion in wagers, breaking a record set in October 2024.

Sen. Addabbo has been instrumental in developing New York's gambling regimes. In 2022, he introduced legislation to legalize iGaming, a move consistent with his larger policy objective of extending digital gambling in the state.

His push for mobile sports betting led to the passage of laws in April 2021, paving the way for the state's first legal online sportsbooks, launched in January 2022. Since then, however, New York has always led the way in states based on sports betting revenue.

On top of SB 2616, the legislature reviewed another gambling-related bill law last week. Senate Bill 2613 discusses the privacy of lottery winners. Under this bill, the state shall be required to protect the identities of lottery winners, with the winner giving permission to release that information to the public to stop it from being protected unless they desire to reveal their data publicly. The law is intended to give winners adequate protection from, for example, scams and attention they don't want.