Sport Betting Industry Aims To Protect Itself

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New MA Sports Betting Bill Contains Massive Tax Increase and Restriction on Real-Time Betting

Massachusetts sports betting might look totally various if a brand-new costs proposed in the Senate succeeds. And if history is any indicator, controlled sports betting in other states could likewise alter 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%. In Addition, Sen. Keenan calls for a total ban on live sports betting (in-game betting) and prop bets.

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The main thing to bear in mind is that Massachusetts has actually been at the forefront of more stringent sports betting regulations. The 2nd thing to understand is that the language of this bill resembles the SAFE Bet Act, a federal piece of legislation presented in 2024.

This bill was introduced not long after former Massachusetts Governor and present NCAA president Charlie Baker testified 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 affect other states that offer managed sports betting.

A closer take a look at SD 1657

Taxation

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 increase would have can be found in the state’s budget plan bill.

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 6th greatest.

Prohibiting live betting and prop betting

The measure forbids in-play (live betting) or prop betting. Only straight wagers would be enabled, limiting sportsbooks to providing only moneyline, spread, and totals.

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

The expense likewise seeks to include benefits and same-game parlays to the category of “unreasonable and deceptive practices.” Sportsbooks favour same-game parlays due to their high “hold” percentage, the amount of money they keep off each $1 wagered.

Player Limits

SD 1657 also intends to produce mandatory everyday and monthly limits for bettors. Bettors might not wager more than $1,000 a day and $10,000 a month without an ‘price assessment’ which involves checking checking 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 a price assessment on bettors.

Marketing limitations

Keenan also wishes to remove advertising throughout televised sporting events. The step would prohibit sportsbooks from running ads throughout games. The Massachusetts Gaming Commission has looked into producing a ban on in-game ads before. Nevertheless, this did not go through as nationwide TV offers make this hard to implement.

Will the measure 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 result in pushback from local sportsbooks and market supporters.

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Because of this, the measure will likely be fought in the Senate and the House 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 effort before to change their minds. If and when the Senate discusses this procedure, it is impossible to inform how it will be received.

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