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New Massachusetts Sports Betting Proposal Includes Significant Tax Increase and Prohibition on Real-Time Betting 78 views

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New Massachusetts Sports Betting Proposal Includes Significant Tax Increase and Prohibition on Real-Time Betting

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New Massachusetts Sports Betting Proposal Includes Significant Tax Increase and Prohibition on Real-Time Betting

Massachusetts sports betting might look totally different if a new costs proposed in the Senate achieves success. And if history is any sign, managed sports betting in other states could also change drastically.

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SD 1657 was presented 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%. Additionally, Sen. Keenan requires a complete restriction on live betting (in-game wagering) and prop bets.

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The main thing to bear in mind is that Massachusetts has been at the leading edge of stricter sports betting guidelines. The second thing to understand is that the language of this costs resembles the SAFE Bet Act, a federal piece of legislation presented 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 guideline.

So, while this is presently a Massachusetts expense, it’s likely to impact other states that offer managed sports betting.

A closer take a look at SD 1657

Taxation

Starting with the tax rate increase, bringing sports betting to 51% has been a target for Sen. Keenan before. Keenan proposed a tax increase at the last legal session, however it was declined. This boost would have can be found in the state’s budget plan costs.

Just 3 markets have tax rates of 51%, the greatest in the country: New York, Rhode Island, and New Hampshire. At 20%, Massachusetts currently ranks sixth highest.

Prohibiting live betting and prop betting

The step restricts in-play (live betting) or prop betting. Only straight wagers would be allowed, limiting sportsbooks to providing only moneyline, spread, and totals.

While Massachusetts and other markets have limitations on college betting, this would affect even expert sporting events.

The costs likewise seeks to include perks and same-game parlays to the classification of “unfair and misleading practices.” Sportsbooks favour same-game parlays due to their high “hold” portion, the quantity of money they deflect each $1 bet.

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Player Limits

SD 1657 also intends to develop compulsory everyday and regular monthly limits for bettors. Bettors could not wager more than $1,000 a day and $10,000 a month without an ‘price evaluation’ which includes examining checking account. A player can not wager more than 15% of the amount in their account.

Massachusetts would become the very first market to need an affordability evaluation on bettors.

Advertising restrictions

Keenan likewise wants to remove marketing throughout telecasted sporting events. The step would restrict sportsbooks from running ads during video games. The Massachusetts Gaming Commission has actually looked into producing a ban on in-game advertisements before. Nevertheless, this did not go through as national television deals make this difficult to enforce.

Will the procedure pass?

The step is severe in its modifications to the sports betting industry in Massachusetts. Banning prop betting and increasing the sports betting tax rate will likely cause pushback from local sportsbooks and market advocates.

Because of this, the procedure will likely be battled in the Senate and your home of Representatives. In the previous session, Keenan failed to raise the tax rate.

He would have to persuade the other senators who did not support his effort before to change their minds. If and when the Senate discusses this step, it is impossible to inform how it will be gotten.

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