Super Bowl 2026 warning: Gambling on unlicensed online platforms can cost you, AG's office says

Ahead of Sunday's Super Bowl LX, the state attorney general's office warned that unauthorized sports betting and unregulated prediction markets operate without the supervision of the New York State Gaming Commission and put many people at financial risk.

The consumer alert issued by Attorney General Letitia James Monday said many online platforms offer bets masquerading as "event contracts" on the outcomes of political elections, sporting events or other future events, and operate without consumer protection.

"Ahead of the Super Bowl, New Yorkers need to know the significant risks with unregulated prediction markets," James said in a statement. "It’s crystal clear: so-called prediction markets do not have the same consumer protections as regulated platforms. I urge all New Yorkers to be cautious of these platforms to protect their money.

Between April 2024 and March 2025, gamblers wagered $23.9 billion in mobile sports bets. The "gross gaming revenue," or GGR, a key metric measuring the difference between the amount players wagered minus the amount won was recorded at $2.1 billion over the same period.

Meanwhile, gaming platform providers collected more than $1,05 billion in revenue in New York, according to the state gaming commission.

These figures reflect legal gaming platforms in New York State and not the nefarious ones James warned of that also operate online.

James also cautioned the industry that the conduct, advertisement and promotion of unlicensed sports wagering violate New York’s gambling laws and could be subject to civil and criminal liability.

Consumers should be aware that many unregulated prediction markets may appear as modern, high-tech platforms for speculation or "forecasting," the alert said.

A regulated market would provide consumer protections such as allocating resources to develop and fund programs to combat problem gambling and to identify customers battling gambling addictions.

Other protections include implementing procedures to prevent underage gambling, enforcing restrictions to prevent predatory or deceptive advertising and creating guardrails to allow consumers to exclude themselves from the platform, the alert said.

To determine if a platform is legitimate, New Yorkers should check online if it is licensed with the New York Gaming Commission. If it is not, the platform may be operating illegally in the state.

James also encouraged New Yorkers to "avoid risking money you cannot afford to lose" and to treat the prediction markets "as high-risk — no guarantee of returns, and no guarantee of access to your funds."

A regulated platform would also uphold prohibitions against insider betting and require a regulatory review to ensure the financial stability and integrity of gambling operators.

If New Yorkers find themselves or a loved one struggling with gambling, they can seek assistance from resources such as the New York Council on Problem Gambling's 24-hour problem gambling helpline by calling 877-846-7369 or texting HOPENY (467369), or from Gamblers Anonymous.