sport-betting-industry-seeks-to-protect-itself

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Massachusetts sports betting could look totally various if a brand-new expense proposed in the Senate succeeds. And if history is any indication, controlled sports betting in other states could likewise alter considerably.

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 betting (in-game betting) and prop bets.
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The main point to keep in mind is that Massachusetts has been at the leading edge of more stringent sports betting guidelines. The 2nd thing to know is that the language of this expense resembles the SAFE Bet Act, a federal piece of legislation presented in 2024.

This costs was presented not long after previous Massachusetts Governor and present NCAA president Charlie Baker affirmed in front of the Senate in a meeting on sports betting regulation.

So, while this is currently a Massachusetts costs, it's most likely to impact other states that use managed sports betting.
A closer take a look at SD 1657 Tax
Beginning 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 legal session, however it was declined. This boost would have come in the state's budget plan bill.

Only three markets have tax rates of 51%, the highest in the country: New York, Rhode Island, and New Hampshire. At 20%, Massachusetts currently ranks 6th greatest.
Prohibiting live betting and prop betting
The measure prohibits in-play (live betting) or prop betting. Just straight wagers would be enabled, limiting sportsbooks to using only moneyline, spread, and totals.

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

The expense also seeks to include perks and same-game parlays to the classification of "unjust and misleading 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 create obligatory everyday and monthly limitations 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 quantity in their account.

Massachusetts would become the first market to need an affordability evaluation on bettors.
Marketing limitations
Keenan likewise wants to eliminate advertising throughout telecasted sporting occasions. The step would restrict sportsbooks from running advertisements throughout games. The Massachusetts Gaming Commission has actually looked into producing a ban on in-game advertisements before. However, this did not go through as national television deals make this hard to impose.
Will the procedure pass?
The measure 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 industry advocates.
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Because of this, the measure will likely be battled in the Senate and the 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 initiative before to change their minds. If and when the Senate discusses this measure, it is difficult to tell how it will be received.
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