Tracie Fishman asked 2 месеци ago
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%. Furthermore, Sen. Keenan calls for a total restriction on live betting (in-game betting) and prop bets.
The main point to keep in mind is that Massachusetts has actually been at the forefront of stricter sports betting guidelines. The 2nd thing to know is that the language of this bill 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 regulation.
So, while this is currently a Massachusetts expense, it’s most likely to affect other states that use controlled sports betting.
A closer take a look at SD 1657
Tax
Starting with the tax rate boost, bringing sports betting to 51% has been a target for Sen. Keenan before. Keenan proposed a tax increase at the last legal session, however it was turned down. This increase would have been available in the state’s budget expense.
Just 3 markets have tax rates of 51%, the highest in the nation: New York, Rhode Island, and New Hampshire. At 20%, Massachusetts currently ranks 6th greatest.
Prohibiting live betting and prop betting
The step prohibits in-play (live betting) or prop betting. Just straight wagers would be permitted, restricting sportsbooks to providing just moneyline, spread, and overalls.
While Massachusetts and other markets have limitations on collegiate wagering, this would affect even professional sporting occasions.
The bill also looks for to add benefits and same-game parlays to the classification of “unjust and deceptive practices.” Sportsbooks favour same-game parlays due to their high “hold” percentage, the quantity of money they deflect each $1 bet.
Gamer Limits
SD 1657 likewise aims to create necessary everyday and regular monthly limitations for bettors. Bettors might not wager more than $1,000 a day and $10,000 a month without an ‘affordability assessment’ which includes examining bank accounts. A player can not wager more than 15% of the quantity in their account.
Massachusetts would end up being the first market to require a price evaluation on bettors.
Advertising limitations
Keenan also wants to get rid of marketing throughout televised sporting occasions. The measure would restrict sportsbooks from running ads throughout video games. The Massachusetts Gaming Commission has checked out developing a ban on in-game ads before. However, this did not go through as nationwide TV offers make this difficult to enforce.
Will the procedure 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.
Because of this, the measure 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 change their minds. If and when the Senate discusses this procedure, it is impossible to inform how it will be gotten.
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