Massachusetts sports betting might look totally various if a new costs proposed in the Senate is successful. And if history is any indication, managed sports betting in other states could likewise 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 present sports betting tax rate from 20% to 51%. Additionally, Sen. Keenan requires a complete ban on live sports betting (in-game sports betting) and prop bets.
The main point to keep in mind is that Massachusetts has actually been at the leading edge of more stringent regulations. The second thing to know is that the language of this expense 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 affirmed in front of the Senate in a meeting on sports betting regulation.
So, while this is presently a Massachusetts costs, it’s most likely to impact other states that offer controlled sports betting.
A closer 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 turned down. This boost would have been available in the state’s budget costs.
Only 3 markets have tax rates of 51%, the greatest in the nation: New York, Rhode Island, and New Hampshire. At 20%, Massachusetts currently ranks sixth highest.
Banning live betting and prop betting
The measure restricts in-play (live sports betting) or prop sports betting. Just straight wagers would be enabled, limiting sportsbooks to providing just moneyline, spread, and overalls.
While Massachusetts and other markets have restrictions on college wagering, this would impact even professional sporting events.
The bill likewise seeks to include perks and same-game parlays to the classification of „unfair and misleading practices.“ Sportsbooks favour same-game parlays due to their high „hold“ percentage, the quantity of cash they deflect each $1 bet.
Gamer Limits
SD 1657 also intends to create compulsory 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 ‚cost evaluation‘ which involves inspecting savings account. A player can not wager more than 15% of the amount in their account.
Massachusetts would become the very first market to need a cost evaluation on bettors.
Advertising restrictions
Keenan likewise wants to eliminate advertising throughout telecasted sporting events. The step would prohibit sportsbooks from running ads throughout video games. The Massachusetts Gaming Commission has actually checked out creating a ban on in-game ads before. Nevertheless, this did not go through as nationwide television offers make this tough to implement.
Will the procedure pass?
The procedure is severe 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 fans.
Because of this, the step will likely be battled in the Senate and your home of Representatives. In the previous session, Keenan failed to raise the tax rate.
He would need to encourage the other senators who did not support his initiative before to alter their minds. If and when the Senate discusses this procedure, it is impossible to inform how it will be gotten.
