Cover the Bases: Sports Betting News and Notes from the Past Week

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Latest MA Sports Betting Bill Contains Significant Tax Boost & Ban on In-Play Betting

Massachusetts sports betting might look totally different if a new expense proposed in the Senate is successful. And if history is any indicator, regulated sports betting in other states might also change dramatically.

SD 1657 existed 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%. In Addition, Sen. Keenan requires a complete restriction on live betting (in-game wagering) and prop bets.

The main point to bear in mind is that Massachusetts has been at the leading edge of more stringent sports betting guidelines. The second thing to know is that the language of this costs is similar to the SAFE Bet Act, a federal piece of legislation presented in 2024.

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This expense was introduced not long after previous 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 bill, it’s likely to impact other states that provide managed sports betting.

A closer take a 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 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 highest in the country: New York, Rhode Island, and New Hampshire. At 20%, Massachusetts presently ranks 6th greatest.

Banning live betting and prop betting

The procedure forbids in-play (live betting) or prop betting. Only straight wagers would be allowed, limiting sportsbooks to using only moneyline, spread, and overalls.

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

The expense likewise looks for to include bonuses and same-game parlays to the category of “unfair and deceptive practices.” Sportsbooks favour same-game parlays due to their high “hold” percentage, the amount of cash they deflect each $1 bet.

Player Limits

SD 1657 also intends to develop necessary daily and monthly limits for bettors. Bettors could not wager more than $1,000 a day and $10,000 a month without an ‘affordability assessment’ which includes checking savings account. A gamer can not wager more than 15% of the quantity in their account.

Massachusetts would become the first market to require a price assessment on bettors.

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Advertising restrictions

Keenan likewise wishes to get rid of advertising throughout televised sporting events. The procedure would restrict sportsbooks from running ads throughout games. The Massachusetts Gaming Commission has checked out creating a ban on in-game ads before. Nevertheless, this did not go through as nationwide TV deals make this hard to enforce.

Will the step pass?

The step is harsh in its changes to the sports betting industry in Massachusetts. Banning prop betting and increasing the sports betting tax rate will likely cause pushback from local sportsbooks and industry advocates.

Because of this, the procedure will likely be battled in the Senate and your house of Representatives. In the previous session, Keenan failed to raise the tax rate.

He would need 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.