Massachusetts sports betting could look totally different if a new bill proposed in the Senate achieves success. And if history is any indication, managed sports betting in other states might likewise alter drastically.
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SD 1657 existed by Sen. John Keenan. "An Act Addressing Economic, Health, and Social Harms Caused by Sports Betting" intends to increase the present sports betting tax rate from 20% to 51%. In Addition, Sen. Keenan requires a complete restriction on live betting (in-game wagering) and prop bets.
The main thing to bear in mind is that Massachusetts has been at the leading edge of stricter sports betting regulations. The second thing to know is that the language of this bill is similar to the SAFE Bet Act, a federal piece of legislation introduced in 2024.
This costs was presented not long after previous Massachusetts Governor and existing NCAA president Charlie Baker affirmed in front of the Senate in a meeting on sports betting policy.
So, while this is presently a Massachusetts costs, it's likely to affect other states that offer managed sports betting.
A closer take a look at SD 1657
Taxation
Starting with the tax rate boost, bringing sports betting to 51% has been a target for Sen. Keenan before. Keenan proposed a tax boost at the last legislative session, however it was rejected. This increase would have can be found in the state's budget plan expense.
Only 3 markets have tax rates of 51%, the highest in the nation: New York, Rhode Island, and New Hampshire. At 20%, Massachusetts currently ranks 6th highest.
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Prohibiting live betting and prop betting
The measure forbids in-play (live sports betting) or prop betting. Just straight wagers would be permitted, restricting sportsbooks to offering just moneyline, spread, and overalls.
While Massachusetts and other markets have constraints on college betting, this would affect even expert sporting events.
The bill also seeks to add benefits and same-game parlays to the classification of "unfair and misleading practices." Sportsbooks favour same-game parlays due to their high "hold" portion, the amount of cash they deflect each $1 wagered.
Player Limits
SD 1657 also aims to produce necessary everyday and regular monthly limits for bettors. Bettors could not wager more than $1,000 a day and $10,000 a month without an 'cost evaluation' which involves examining savings account. A gamer can not wager more than 15% of the quantity in their account.
Massachusetts would become the first market to need a cost assessment on bettors.
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Marketing restrictions
Keenan also wants to remove advertising throughout telecasted sporting events. The measure would restrict sportsbooks from running advertisements throughout games. The Massachusetts Gaming Commission has actually checked out developing a restriction on in-game advertisements before. Nevertheless, this did not go through as nationwide television offers make this tough to impose.
Will the measure pass?
The procedure is severe in its changes to the sports betting industry in Massachusetts. Banning prop sports betting and increasing the sports betting tax rate will likely cause pushback from local sportsbooks and industry supporters.
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Because of this, the measure will likely be fought in the Senate and your house of Representatives. In the previous session, Keenan failed to raise the tax rate.
He would need to persuade the other senators who did not support his initiative before to alter their minds. If and when the Senate discusses this procedure, it is difficult to tell how it will be gotten.
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Recent MA Sports Betting Proposal Contains Massive Tax Hike and Prohibition on Real Time Betting
jillianphipps6 edited this page 2025-01-29 16:23:12 -06:00