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New Massachusetts Sports Betting Bill Includes Massive Tax Boost & Prohibition on Live Betting

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Company Description

Latest Massachusetts Sports Betting Proposal Features Significant Tax Hike and Restriction on In-Play Betting

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Massachusetts sports betting might look completely various if a new bill proposed in the Senate succeeds. And if history is any sign, regulated sports betting in other states could also alter dramatically.

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 betting (in-game wagering) and prop bets.

The main thing to keep in mind is that Massachusetts has actually been at the forefront of stricter sports betting policies. The 2nd thing to know is that the language of this expense resembles the SAFE Bet Act, a federal piece of legislation introduced in 2024.

This expense was presented not long after former Massachusetts Governor and existing 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 affect other states that provide managed 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, but it was turned down. This increase would have can be found in the state’s budget costs.

Just 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.

Prohibiting live betting and prop betting

The procedure prohibits in-play (live betting) or prop betting. Only straight wagers would be enabled, restricting sportsbooks to offering only moneyline, spread, and overalls.

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

The bill likewise looks for to add perks and same-game parlays to the category of “unreasonable and misleading 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 develop obligatory day-to-day and month-to-month 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 player can not wager more than 15% of the amount in their account.

Massachusetts would end up being the very first market to need an affordability evaluation on bettors.

Marketing limitations

Keenan also wishes to remove advertising during telecasted sporting occasions. The measure would restrict sportsbooks from running ads during games. The Massachusetts Gaming Commission has checked out creating a restriction on in-game advertisements before. Nevertheless, this did not go through as national TV offers make this difficult to implement.

Will the step pass?

The step is severe in its changes 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 advocates.

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Because of this, the step 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 convince the other senators who did not support his effort before to alter their minds. If and when the Senate discusses this step, it is impossible to tell how it will be gotten.

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