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Massachusetts sports betting might look completely various if a brand-new costs proposed in the Senate succeeds. And if history is any indication, managed sports betting in other states could likewise alter considerably.
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%. Furthermore, Sen. Keenan requires a total ban on live sports betting (in-game sports betting) and prop bets.
The main thing to keep in mind is that Massachusetts has been at the leading edge of stricter sports betting policies. The 2nd thing to understand is that the language of this expense resembles the SAFE Bet Act, a federal piece of legislation introduced in 2024.
This costs was introduced not long after previous Massachusetts Governor and present NCAA president Charlie Baker affirmed in front of the Senate in a meeting on sports betting regulation.
So, while this is presently a Massachusetts bill, it's most likely to impact other states that offer controlled sports betting.
A closer look at SD 1657
Tax
Beginning with the tax rate increase, bringing sports betting to 51% has been a target for Sen. Keenan before. Keenan proposed a tax boost at the last legal session, however it was rejected. This increase would have been available in the state's budget plan bill.
Only 3 markets have tax rates of 51%, the highest in the country: New York, Rhode Island, and New Hampshire. At 20%, Massachusetts presently ranks sixth greatest.
Prohibiting live betting and prop betting
The step prohibits in-play (live sports betting) or prop sports betting. Just straight wagers would be allowed, limiting sportsbooks to offering just moneyline, spread, and overalls.
While Massachusetts and other markets have limitations on college wagering, this would affect even expert sporting occasions.
The bill likewise looks for to add bonus offers and same-game parlays to the category of "unreasonable and misleading practices." Sportsbooks favour same-game parlays due to their high "hold" percentage, the quantity of money they keep off each $1 wagered.
Player Limits
SD 1657 also aims to produce obligatory everyday and regular monthly limits for bettors. Bettors might not wager more than $1,000 a day and $10,000 a month without an 'price assessment' which involves inspecting savings account. A gamer can not wager more than 15% of the quantity in their account.
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Massachusetts would become the first market to require a cost assessment on bettors.
Marketing limitations
Keenan likewise wants to eliminate marketing during televised sporting events. The step would prohibit sportsbooks from running ads during games. The Massachusetts Gaming Commission has actually looked into creating a ban on in-game advertisements before. Nevertheless, this did not go through as nationwide TV offers make this hard to impose.
Will the procedure pass?
The procedure is extreme in its changes to the sports betting industry in Massachusetts. Banning prop betting and increasing the sports betting tax rate will likely lead to pushback from local sportsbooks and industry fans.
Because of this, the step will likely be battled in the Senate and the House of Representatives. In the previous session, Keenan stopped working to raise the tax rate.
He would have to encourage the other senators who did not support his initiative before to change their minds. If and when the Senate discusses this procedure, it is impossible to inform how it will be gotten.
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Latest Massachusetts Sports Betting Legislation Includes Massive Tax Boost Restriction On Live Betting
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