This company has no active jobs
0 Review
Rate This Company ( No reviews yet )
About Us
Latest Massachusetts Sports Betting Legislation Contains Substantial Tax Boost & Prohibition on Real-Time Betting
Massachusetts sports betting might look completely various if a new bill proposed in the Senate succeeds. And if history is any indication, managed sports betting in other states might likewise change significantly.
SD 1657 existed by Sen. John Keenan. «An Act Addressing Economic, Health, and Social Harms Caused by Sports Betting» aims to increase the current sports betting tax rate from 20% to 51%. Additionally, Sen. Keenan calls for a total ban on live betting (in-game betting) and .
The main thing to bear in mind is that Massachusetts has been at the forefront of stricter sports betting guidelines. The 2nd thing to understand is that the language of this bill is similar to the SAFE Bet Act, a federal piece of legislation presented in 2024.
This expense was presented not long after former 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 currently a Massachusetts expense, it’s likely to affect other states that use regulated 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 turned down. This boost would have can be found in the state’s spending plan expense.
Just 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 greatest.
Banning live betting and prop betting
The step forbids in-play (live sports betting) or prop betting. Just straight wagers would be allowed, limiting sportsbooks to offering only moneyline, spread, and totals.
While Massachusetts and other markets have limitations on college wagering, this would affect even expert sporting occasions.
The costs likewise looks for to include benefits and same-game parlays to the classification of «unreasonable and misleading practices.» Sportsbooks favour same-game parlays due to their high «hold» percentage, the quantity of cash they deflect each $1 wagered.
Gamer Limits
SD 1657 likewise intends to develop mandatory day-to-day and monthly limits 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 amount in their account.
Massachusetts would become the first market to require a cost evaluation on bettors.
Advertising limitations
Keenan also wants to remove advertising during telecasted sporting occasions. The step would restrict sportsbooks from running advertisements throughout video games. The Massachusetts Gaming Commission has actually checked out developing a ban on in-game ads before. Nevertheless, this did not go through as national television deals make this hard to enforce.
Will the procedure pass?
The step is severe 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 advocates.
Because of this, the step will likely be fought in the Senate and the House 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 procedure, it is impossible to tell how it will be gotten.