Massachusetts sports betting might look entirely various if a brand-new bill proposed in the Senate succeeds. And if history is any indication, regulated sports betting in other states might also alter significantly.
SD 1657 was presented by Sen. John Keenan. "An Act Addressing Economic, Health, and Social Harms Caused by Sports Betting" intends to increase the existing sports betting tax rate from 20% to 51%. In Addition, Sen. Keenan requires a total restriction on live betting (in-game betting) and prop bets.
The main point to keep in mind is that Massachusetts has been at the leading edge of more stringent sports betting policies. The second thing to understand is that the language of this costs resembles the SAFE Bet Act, a federal piece of legislation presented in 2024.
This expense was presented not long after previous Massachusetts Governor and present NCAA president Charlie Baker testified in front of the Senate in a meeting on sports betting policy.
So, while this is presently a Massachusetts expense, it's most likely to impact other states that provide controlled sports betting.
A closer take a look at SD 1657
Tax
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, however it was rejected. This boost 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 highest.
Banning live betting and prop betting
The measure restricts in-play (live betting) or prop betting. Just straight wagers would be enabled, restricting sportsbooks to offering just moneyline, spread, and overalls.
While Massachusetts and other markets have restrictions on collegiate betting, this would impact even expert sporting occasions.
The expense also looks for to include benefits and same-game parlays to the category of "unfair and misleading practices." Sportsbooks favour same-game parlays due to their high "hold" portion, the quantity of money they keep off each $1 bet.
Player Limits
SD 1657 likewise intends to produce mandatory 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 'price assessment' which involves examining bank accounts. 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 cost evaluation on bettors.
Marketing restrictions
Keenan likewise wants to remove marketing throughout telecasted sporting events. The procedure would forbid sportsbooks from running ads during games. The Massachusetts Gaming Commission has looked into producing a restriction on in-game ads before. Nevertheless, this did not go through as national TV deals make this difficult to implement.
Will the measure pass?
The procedure is extreme 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 the House of Representatives. In the previous session, Keenan stopped working to raise the tax rate.
He would need to persuade 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 gotten.
