Latest Massachusetts Sports Betting Proposal Contains Significant Tax Increase and Ban on Real-Time Betting

Latest Massachusetts Sports Betting Proposal Contains Significant Tax Increase and Ban on Real-Time Betting

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Latest Massachusetts Sports Betting Proposal Contains Significant Tax Increase and Ban on Real-Time Betting

Latest Massachusetts Sports Betting Proposal Contains Significant Tax Increase and Ban on Real-Time Betting

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Latest Massachusetts Sports Betting Proposal Contains Significant Tax Increase and Ban on Real-Time Betting

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

SD 1657 existed by Sen. John Keenan. «An Act Addressing Economic, Health, and Social Harms Caused by Sports Betting» intends to increase the current sports betting tax rate from 20% to 51%. Furthermore, Sen. Keenan requires a total restriction on live betting (in-game wagering) and prop bets.

The main point to keep in mind is that Massachusetts has been at the forefront of more stringent sports betting policies. The second thing to know is that the language of this costs resembles the SAFE Bet Act, a federal piece of legislation introduced in 2024.

This costs was presented not long after former Massachusetts Governor and current 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 likely to affect other states that use regulated 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 legislative session, however it was turned down. This increase would have can be found in the state’s budget plan bill.

Just three markets have tax rates of 51%, the highest in the country: New York, Rhode Island, and New Hampshire. At 20%, Massachusetts presently ranks 6th greatest.

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Prohibiting live betting and prop betting

The procedure prohibits in-play (live betting) or prop sports betting. Just straight wagers would be allowed, restricting sportsbooks to providing only moneyline, spread, and totals.

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

The expense also looks for to include bonus offers and same-game parlays to the classification of «unfair and deceptive practices.» Sportsbooks favour same-game parlays due to their high «hold» percentage, the amount of cash they keep off each $1 bet.

Gamer Limits

SD 1657 likewise aims to produce necessary 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 ‘affordability evaluation’ which involves examining bank accounts. A gamer can not wager more than 15% of the amount in their account.

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

Advertising limitations

Keenan also wishes to eliminate advertising during telecasted sporting events. The measure would restrict sportsbooks from running advertisements throughout video games. The Massachusetts Gaming Commission has looked into developing a restriction on in-game ads before. However, this did not go through as nationwide TV offers make this hard to impose.

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Will the measure pass?

The procedure is extreme in its modifications 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 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 persuade the other senators who did not support his initiative before to change their minds. If and when the Senate discusses this measure, it is impossible to inform how it will be received.

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