
Recent Massachusetts Sports Betting Bill Includes Significant Tax Hike & Restriction on In-Play Betting
Add a review FollowOverview
-
Sectors Pending
-
Posted Jobs 0
-
Viewed 119
Company Description
Latest MA Sports Betting Bill Features Massive Tax Boost & Ban on Real-Time Betting
Massachusetts sports betting might look totally different if a brand-new bill proposed in the Senate achieves success. And if history is any indication, managed sports betting in other states could also change considerably.
SD 1657 was presented 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%. In Addition, Sen. Keenan calls for a total ban on live betting (in-game betting) and prop bets.
The main thing to remember is that Massachusetts has actually been at the leading edge of stricter sports betting guidelines. The 2nd thing to know 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 policy.
So, while this is presently a Massachusetts expense, it’s most likely to impact other states that offer managed sports betting.
A closer 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 legislative session, but it was declined. This boost would have come in the state’s budget bill.
Only 3 markets have tax rates of 51%, the highest in the nation: New York, Rhode Island, and New Hampshire. At 20%, Massachusetts presently ranks sixth greatest.
Prohibiting live betting and prop betting
The procedure forbids in-play (live betting) or prop betting. Just straight wagers would be permitted, restricting sportsbooks to using just moneyline, spread, and overalls.
While Massachusetts and other markets have constraints on college betting, this would impact even professional sporting occasions.
The bill also looks for to include benefits and same-game parlays to the category of “unfair and deceptive practices.” Sportsbooks favour same-game parlays due to their high “hold” portion, the amount of money they deflect each $1 wagered.
Player Limits
SD 1657 likewise intends to create mandatory everyday and monthly limits for bettors. Bettors might not wager more than $1,000 a day and $10,000 a month without an ‘cost assessment’ which involves inspecting 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 a cost evaluation on bettors.
Marketing limitations
Keenan also wishes to remove advertising during televised sporting events. The measure would prohibit sportsbooks from running advertisements during video games. The Massachusetts Gaming Commission has checked out creating a restriction on in-game ads before. However, this did not go through as nationwide TV offers make this hard to impose.
Will the procedure 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 lead to pushback from local sportsbooks and market fans.
Because of this, the step will likely be fought in the Senate and the House 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 alter their minds. If and when the Senate discusses this procedure, it is impossible to inform how it will be gotten.