Latest Massachusetts Sports Betting Bill Includes Massive Tax Hike and Restriction on In-Play Betting > 자유게시판

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

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%. Additionally, Sen. Keenan calls for a complete ban on live betting (in-game wagering) and prop bets.

The main thing to bear in mind is that Massachusetts has actually been at the leading edge of more stringent sports betting policies. The second 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 introduced not long after previous Massachusetts Governor and existing NCAA president Charlie Baker testified in front of the Senate in a meeting on sports betting policy.

So, while this is presently a Massachusetts costs, it's most likely to impact other states that provide regulated sports betting.

A closer take a look at SD 1657

Tax

Beginning with the tax rate increase, bringing sports betting to 51% has actually been a target for Sen. Keenan before. Keenan proposed a tax increase at the last legal session, but it was rejected. This boost would have can be found in the state's spending plan costs.

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 highest.

Banning live betting and prop betting

The step restricts in-play (live betting) or prop betting. Only straight wagers would be enabled, restricting sportsbooks to offering just moneyline, spread, and overalls.

While Massachusetts and other markets have restrictions on collegiate wagering, this would impact even professional sporting events.

The costs likewise seeks to include rewards and same-game parlays to the classification of "unjust and misleading practices." Sportsbooks favour same-game parlays due to their high "hold" percentage, the amount of money they deflect each $1 wagered.

Gamer Limits

SD 1657 likewise aims to create obligatory everyday and regular monthly limitations for bettors. Bettors could not wager more than $1,000 a day and $10,000 a month without an 'price evaluation' which involves checking savings account. A player can not wager more than 15% of the amount in their account.

Massachusetts would end up being the very first market to need an affordability assessment on bettors.

Advertising constraints

Keenan also wants to eliminate marketing throughout televised sporting occasions. The measure would restrict sportsbooks from running ads throughout video games. The Massachusetts Gaming Commission has actually looked into developing a ban on in-game ads before. However, this did not go through as nationwide TV deals make this difficult to implement.

Will the procedure pass?

The measure is harsh 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 measure 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 need to encourage the other senators who did not support his effort before to alter their minds. If and when the Senate discusses this measure, it is difficult to inform how it will be received.