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New Massachusetts Sports Betting Legislation Contains Massive Tax Hike & Ban on Real-Time Betting
Massachusetts sports betting could look completely various if a new bill proposed in the Senate succeeds. And if history is any indication, regulated sports betting in other states could likewise alter considerably.
SD 1657 existed by Sen. John Keenan. “An Act Addressing Economic, Health, and Social Harms Caused by Sports Betting” intends to increase the existing sports betting tax rate from 20% to 51%. Additionally, Sen. Keenan calls for a complete restriction on live betting (in-game wagering) and prop bets.
The main point to bear in mind is that Massachusetts has actually been at the forefront of more stringent sports betting policies. The second thing to understand is that the language of this bill 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 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 offer regulated sports betting.
A closer take a look at SD 1657
Tax
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 rejected. This increase would have come in the state’s budget costs.
Just three 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.
Banning live betting and prop betting
The procedure forbids in-play (live betting) or prop betting. Only straight wagers would be allowed, limiting sportsbooks to using just moneyline, spread, and totals.
While Massachusetts and other markets have constraints on college betting, this would impact even expert sporting events.
The bill also looks for to include rewards and same-game parlays to the category of “unreasonable and misleading practices.” Sportsbooks favour same-game parlays due to their high “hold” portion, the quantity of money they keep off each $1 bet.
Player Limits
SD 1657 also aims to produce compulsory day-to-day and month-to-month limitations for bettors. Bettors could not wager more than $1,000 a day and $10,000 a month without an ‘cost assessment’ which includes checking checking account. A player can not wager more than 15% of the quantity in their account.
Massachusetts would become the first market to need a cost evaluation on bettors.
Advertising constraints
Keenan also wishes to eliminate marketing during telecasted sporting occasions. The step would restrict sportsbooks from running advertisements throughout video games. The Massachusetts Gaming Commission has actually looked into producing a ban on in-game ads before. Nevertheless, this did not go through as national television deals make this tough to implement.
Will the step pass?
The measure is severe in its changes to the sports betting industry in Massachusetts. Banning prop betting and increasing the sports betting tax rate will likely result in pushback from local sportsbooks and market fans.
Because of this, the step will likely be fought in the Senate and your home of Representatives. In the previous session, Keenan failed to raise the tax rate.
He would need to persuade the other senators who did not support his initiative before to alter their minds. If and when the Senate discusses this step, it is impossible to inform how it will be gotten.