Massachusetts sports betting might look entirely different if a brand-new expense proposed in the Senate is successful. And if history is any sign, managed sports betting in other states might also change considerably.
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SD 1657 existed by Sen. John Keenan. "An Act Addressing Economic, Health, and Social Harms Caused by Sports Betting" aims to increase the existing sports betting tax rate from 20% to 51%. Furthermore, Sen. Keenan requires a total ban on live sports betting (in-game sports betting) and prop bets.
The main thing to bear in mind is that Massachusetts has actually been at the leading edge of more stringent sports betting guidelines. The second thing to know is that the language of this costs resembles the SAFE Bet Act, a federal piece of legislation presented in 2024.
This bill was presented not long after previous Massachusetts Governor and current NCAA president Charlie Baker affirmed in front of the Senate in a meeting on sports betting guideline.
So, while this is currently a Massachusetts costs, it's likely to impact other states that offer regulated sports betting.
A closer look at SD 1657
Taxation
Beginning with the tax rate boost, bringing sports betting to 51% has been a target for Sen. Keenan before. Keenan proposed a tax boost at the last legal session, but it was rejected. This increase would have come in the state's budget plan expense.
Only three markets have tax rates of 51%, the greatest in the country: New York, Rhode Island, and New Hampshire. At 20%, Massachusetts presently ranks sixth highest.
Banning live betting and prop betting
The step prohibits in-play (live sports betting) or prop sports betting. Just straight wagers would be allowed, restricting sportsbooks to offering just moneyline, spread, and totals.
While Massachusetts and other markets have limitations on collegiate wagering, this would impact even expert sporting occasions.
The costs likewise looks for to add 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 quantity of money they deflect each $1 wagered.
Gamer Limits
SD 1657 also aims to develop necessary day-to-day and monthly limits 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 gamer can not wager more than 15% of the quantity in their account.
Massachusetts would become the very first market to require a price assessment on bettors.
Marketing limitations
Keenan likewise wants to get rid of advertising during televised sporting events. The procedure would prohibit sportsbooks from running advertisements throughout games. The Massachusetts Gaming Commission has actually checked out creating a ban on in-game advertisements before. However, this did not go through as nationwide TV offers make this difficult to enforce.
Will the procedure pass?
The procedure is severe in its changes to the sports betting industry in Massachusetts. Banning prop sports betting and increasing the sports betting tax rate will likely lead to pushback from local sportsbooks and industry advocates.
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Because of this, the measure 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 convince the other senators who did not support his initiative before to alter their minds. If and when the Senate discusses this measure, it is difficult to inform how it will be received.
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Latest MA Sports Betting Bill Includes Significant Tax Increase & Restriction on In Play Betting
Lou Eskridge edited this page 4 months ago