The New York Senate recently approved a bill that will provide for a more expansive legal sports betting regime locally. It provides for different betting markets, including in-game proposition bets and wagers on major sports awards. The bill, Senate Bill 2616, sponsored by Senator Joseph Addabbo, seeks to amend existing regulations to allow a broader range of betting options.

If passed, bettors in New York would be able to place prop bets throughout games, wager on coin tosses, and bet on future individual and team honors like the Heisman Trophy or NFL MVP. The move is expected to further boost an already thriving sports betting industry, which saw record-breaking revenue in 2024.

However, with online sports betting receiving a possible expansion, it again brings up the question of online casinos. Various international casino promotions make it possible for New Yorkers to play on offshore sites. However, most want local options to play on. New York potentially holds the largest online casino market in the nation but, for now, all that revenue is flowing to offshore casinos.

These platforms provide many benefits from instant payouts to crypto betting and wide gaming libraries, making them a huge draw for New Yorkers. However, for now, with more betting options on the horizon, sportsbooks are expected to ramp up incentives to attract both seasoned and new bettors.

New York currently prohibits betting on sports awards, aligning with states like Colorado, Massachusetts, and Virginia. If SB 2616 passes, it would lift those restrictions and bring the state in line with jurisdictions that permit such wagers. The proposal comes amid national scrutiny over certain betting types, particularly prop bets on college athletes.

NCAA President Charlie Baker has called for a nationwide ban on these wagers, citing integrity concerns and increased harassment of student-athletes. Some states, including Louisiana, Ohio, and Maryland, have already banned college player props, and similar discussions are unfolding in New York.

Despite these debates, the state’s sports betting industry is thriving. In 2024, New York recorded $22.6 billion in bets–generating $2 billion in operator revenue and over $1 billion in state tax revenue. January 2025 continued this momentum, setting a new monthly record with $2.5 billion in wagers and $247 million in gross gaming revenue.

As SB 2616 progresses, Addabbo is also advocating for a separate bill . This one provides for regulated online casino gaming. The measure would allow licensed casinos, VLT parlors, and various other types of online gambling offerings.

Previous efforts to legalize online casinos in New York have failed, but proponents argue that iGaming could generate significant tax revenue. However, opponents cite concerns over social issues and regulatory challenges.

SB 2616 now moves to the full Senate, followed by the House. If approved, it will require Governor Kathy Hochul’s signature to become law. New York’s evolving stance on sports betting and online gambling reflects a broader trend across the U.S. As states reevaluate their gaming laws, the outcome of these legislative efforts could influence future policies nationwide.