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Bonus bans and betting brakes: NY considers daily deposit limit
The New York Assembly Committee on Racing and Wagering is reviewing a bill that would implement changes to the state’s sports betting regulations.
Proposed by Assembly member Robert Carroll, the legislation would limit daily deposits and wagering to $5,000 per 24-hour period and prohibit the use of credit cards for betting transactions. The bill also includes provisions requiring players to acknowledge when their lifetime deposits exceed $2,500, at which point they would need to establish responsible gaming limits or close their account before continuing to wager.
Additionally, the legislation would restrict advertising practices, banning the use of terms like “bonus” or “bonus bet,” and prohibiting advertisements between 8am and 10pm or during live sports events.
If approved, the bill must pass through multiple legislative stages before reaching the Governor for final approval.
Texas Fold ‘Em: Lottery chief resigns amid $95m jackpot investigation
Ryan Mindell has stepped down as Executive Director of the Texas Lottery Commission following investigations into a controversial $95m jackpot win in 2023.
The resignation comes amid ongoing investigations by the Texas Attorney General’s Office and Texas Rangers into the incident, in which a London-based consortium reportedly acquired all 25.8 million possible ticket combinations to secure the massive prize.
The controversy extends beyond the jackpot win, with investigations also examining third-party courier apps used to purchase tickets, one of which was involved in a separate disputed $83.5m jackpot claim earlier this year. The Texas Legislature has currently set the TLC’s budget at $0 for the next two financial years, pending further action.
Sri Lanka locks in: Betting bill gathers steam
Sri Lanka is making significant strides toward regulated sports betting with Cabinet approval of a draft ‘Gambling Sports Regularization Bill.’
The legislation, proposed by President Anura Kumara Dissanayake, aims to establish a Gambling Regularization Authority to oversee all betting activities throughout the country. The new regulatory body would have oversight of onshore gambling, offshore betting on ships, activities in the Colombo Port City and online platforms.
Having received legal clearance from the Attorney General, the bill will now move to Parliament for debate, representing an important step toward addressing concerns around unregulated betting and establishing responsible gambling practices throughout the island nation.
Slots of trouble: Videoslots hit with $1.3m Swedish penalty
Videoslots has been fined SEK 12m ($1.3m) by the Swedish Gambling Authority for failing to meet its duty of care obligations under the Swedish Gambling Act. The regulator determined that the operator did not take appropriate action to reduce excessive gambling when players were at risk, failing to follow up on implemented measures and not acting promptly to address issues.
The investigation, which began in Spring 2024, reviewed data from twelve customers selected based on their gambling losses. While Videoslots contested some findings and claimed it had taken steps to reduce gambling harm, the company could not demonstrate timely intervention when excessive gambling was identified.
Radar riches: Sportradar’s profits power up
Sportradar has revealed impressive preliminary financial results for Q1 2025, with revenue between €307m-€311m, representing a 14.3%-15.6% increase compared to the €265.9m generated in Q1 2024.
The sports data supplier also reported adjusted EBITDA of between €56m-€58m, up from €47.2m last year, and quarterly profits of €20m-€24m – a significant improvement from the €0.6m loss in the same period last year.
The company plans to release its full audited Q1 2025 financial results on 12 May, with an earnings call scheduled for 8:30am ET.
