New Massachusetts Sports Betting Proposal Features Massive Tax Increase and Ban on In-Play Betting > 자유게시판

• 목록
• 답변
• 글쓰기
• 게시판 리스트 옵션
  • 수정
  • 삭제

Massachusetts sports betting could look entirely various if a brand-new expense proposed in the Senate achieves success. And if history is any sign, managed sports betting in other states might likewise change considerably.

SD 1657 was presented 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 requires a total ban on live betting (in-game wagering) and prop bets.

The main point to remember is that Massachusetts has actually been at the forefront of more stringent sports betting guidelines. 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 guideline.

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

A closer take a look at SD 1657

Taxation

Starting with the tax rate boost, bringing sports betting to 51% has actually been a target for Sen. Keenan before. Keenan proposed a tax boost at the last legislative session, however it was declined. This increase would have been available in the state's budget costs.

Just three markets have tax rates of 51%, the greatest in the nation: New York, Rhode Island, and New Hampshire. At 20%, Massachusetts currently ranks sixth greatest.

Prohibiting live betting and prop betting

The measure prohibits in-play (live betting) or prop betting. Only straight wagers would be permitted, limiting sportsbooks to offering just moneyline, spread, and overalls.

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

The bill likewise seeks to add bonuses and same-game parlays to the classification of "unreasonable and misleading practices." Sportsbooks favour same-game parlays due to their high "hold" percentage, the amount of cash they deflect each $1 wagered.

Player Limits

SD 1657 also intends to develop necessary everyday and month-to-month limits for bettors. Bettors could not wager more than $1,000 a day and $10,000 a month without an 'price assessment' which includes checking savings account. A player can not wager more than 15% of the amount in their account.

Massachusetts would end up being the first market to require an affordability evaluation on bettors.

Advertising limitations

Keenan also wants to get rid of marketing during televised sporting occasions. The procedure would prohibit sportsbooks from running advertisements throughout games. The Massachusetts Gaming Commission has actually looked into creating a restriction on in-game advertisements before. Nevertheless, this did not go through as national television deals make this difficult to implement.

Will the step pass?

The step is severe in its modifications to the sports betting industry in Massachusetts. Banning prop betting and increasing the sports betting tax rate will likely cause pushback from local sportsbooks and market fans.

Because of this, the step will likely be battled in the Senate and your home of Representatives. In the previous session, Keenan stopped working 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 inform how it will be received.