New Massachusetts Sports Betting Bill Features Substantial Tax Boost and Restriction on Real-Time Betting > 자유게시판

Massachusetts sports betting might look completely various if a brand-new bill proposed in the Senate is successful. And if history is any indicator, controlled sports betting in other states could likewise change significantly.

SD 1657 was presented by Sen. John Keenan. "An Act Addressing Economic, Health, and Social Harms Caused by Sports Betting" aims to increase the existing sports betting tax rate from 20% to 51%. Furthermore, Sen. Keenan calls for a total ban on live sports betting (in-game sports betting) and prop bets.

The main point to bear in mind is that Massachusetts has been at the forefront of stricter sports betting policies. The 2nd thing to understand is that the language of this expense is similar to the SAFE Bet Act, a federal piece of legislation presented in 2024.

This bill was presented not long after former 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 currently a Massachusetts bill, it's likely to affect other states that use controlled sports betting.

A closer look at SD 1657

Tax

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 turned down. This increase would have been available in the state's budget bill.

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.

Prohibiting live betting and prop betting

The procedure restricts in-play (live sports betting) or prop sports betting. Just straight wagers would be enabled, restricting sportsbooks to using just moneyline, spread, and overalls.

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

The expense likewise seeks to include bonuses and same-game parlays to the category of "unjust and deceptive practices." Sportsbooks favour same-game parlays due to their high "hold" percentage, the amount of cash they keep off each $1 wagered.

Player Limits

SD 1657 likewise aims to develop compulsory day-to-day and regular monthly limitations for bettors. Bettors might 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 end up being the first market to require a cost assessment on bettors.

Marketing restrictions

Keenan also wants to remove advertising throughout televised sporting occasions. The step would prohibit sportsbooks from running advertisements during games. The Massachusetts Gaming Commission has actually looked into producing a ban on in-game advertisements before. However, this did not go through as national TV offers make this hard to enforce.

Will the step pass?

The procedure is extreme in its modifications to the sports betting industry in Massachusetts. Banning prop sports betting and increasing the sports betting tax rate will likely result in pushback from local sportsbooks and industry fans.

Because of this, the step will likely be fought in the Senate and your house of Representatives. In the previous session, Keenan stopped working to raise the tax rate.

He would need to encourage the other senators who did not support his initiative before to change their minds. If and when the Senate discusses this measure, it is difficult to inform how it will be gotten.