This company has no active jobs
0 Review
Rate This Company ( No reviews yet )
About Us
New MA Sports Betting Legislation Features Substantial Tax Hike and Ban on Real-Time Betting
Massachusetts sports betting might look totally various if a new costs proposed in the Senate succeeds. And if history is any indicator, controlled sports betting in other states could also 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%. Furthermore, Sen. Keenan requires a total restriction on live betting (in-game wagering) and prop bets.
The main point to remember is that Massachusetts has been at the forefront of stricter sports betting guidelines. The second thing to understand is that the language of this costs resembles the SAFE Bet Act, a federal piece of legislation presented in 2024.
This bill was introduced not long after former Massachusetts Governor and existing NCAA president Charlie Baker testified in front of the Senate in a meeting on sports betting guideline.
So, while this is presently a Massachusetts bill, it’s likely to affect other states that provide controlled sports betting.
A closer look at SD 1657
Tax
Starting with the tax rate increase, bringing sports betting to 51% has actually been a target for Sen. Keenan before. Keenan proposed a tax boost at the last legislative session, but it was rejected. This boost would have been available in the state’s budget expense.
Only 3 markets have tax rates of 51%, the greatest in the country: New York, Rhode Island, and New Hampshire. At 20%, Massachusetts presently ranks sixth greatest.
Banning live betting and prop betting
The measure restricts in-play (live betting) or prop betting. Just straight wagers would be permitted, restricting sportsbooks to providing only moneyline, spread, and totals.
While Massachusetts and other markets have constraints on collegiate wagering, this would impact even professional sporting occasions.
The bill also looks for to add bonus offers and same-game parlays to the classification of “unfair and misleading practices.” Sportsbooks favour same-game parlays due to their high “hold” percentage, the amount of cash they keep off each $1 bet.
Player Limits
SD 1657 likewise intends to create obligatory day-to-day and regular monthly limits for bettors. Bettors could not wager more than $1,000 a day and $10,000 a month without an ‘price evaluation’ which includes examining checking account. A gamer can not wager more than 15% of the amount in their account.
Massachusetts would end up being the first market to need a cost evaluation on bettors.
Marketing constraints
Keenan also wishes to eliminate advertising during televised sporting occasions. The procedure would forbid sportsbooks from running ads throughout games. The Massachusetts Gaming Commission has checked out developing a restriction on in-game ads before. Nevertheless, this did not go through as national TV offers make this difficult to implement.
Will the step pass?
The step is harsh 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 market supporters.
Because of this, the procedure will likely be combated in the Senate and your house of Representatives. In the previous session, Keenan stopped working to raise the tax rate.
He would have to convince the other senators who did not support his effort before to change their minds. If and when the Senate discusses this step, it is impossible to inform how it will be gotten.