Massachusetts sports betting might look completely various if a brand-new bill proposed in the Senate is successful. And if history is any sign, regulated sports betting in other states might likewise 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 current sports betting tax rate from 20% to 51%. In Addition, Sen. Keenan requires a complete restriction on live sports betting (in-game betting) and prop bets.
The main thing to remember is that Massachusetts has actually been at the leading edge of stricter sports betting regulations. The 2nd thing to know is that the language of this costs resembles the SAFE Bet Act, a federal piece of legislation presented in 2024.
This bill was introduced not long after previous Massachusetts Governor and present NCAA president Charlie Baker affirmed in front of the Senate in a meeting on sports betting policy.
So, while this is currently a Massachusetts expense, it's most likely to affect other states that provide managed sports betting.
A closer take a look at SD 1657
Tax
Beginning with the tax rate increase, bringing sports betting to 51% has been a target for Sen. Keenan before. Keenan proposed a tax increase at the last legal session, but it was declined. This boost would have been available in the state's budget plan costs.
Just 3 markets have tax rates of 51%, the greatest in the nation: New York, Rhode Island, and New Hampshire. At 20%, Massachusetts currently ranks sixth greatest.
Banning live betting and prop betting
The step forbids in-play (live sports betting) or prop sports betting. Just straight wagers would be permitted, restricting sportsbooks to offering only moneyline, spread, and totals.
While Massachusetts and other markets have limitations on collegiate sports betting, this would impact even professional sporting occasions.
The expense also seeks to include rewards and same-game parlays to the category of "unreasonable and deceptive practices." Sportsbooks favour same-game parlays due to their high "hold" portion, the amount of cash they keep off each $1 wagered.
Player Limits
SD 1657 also aims to produce obligatory day-to-day and regular monthly limits for bettors. Bettors might not wager more than $1,000 a day and $10,000 a month without an 'cost assessment' which involves checking bank accounts. A gamer can not wager more than 15% of the quantity in their account.
Massachusetts would end up being the first market to require a cost evaluation on bettors.
Advertising limitations
Keenan also wants to get rid of advertising throughout telecasted sporting events. The measure would restrict sportsbooks from running advertisements during video games. The Massachusetts Gaming Commission has checked out creating a restriction on in-game advertisements before. Nevertheless, this did not go through as nationwide TV deals make this difficult to impose.
Will the measure pass?
The procedure is harsh in its changes to the sports betting industry in Massachusetts. Banning prop sports betting and increasing the sports betting tax rate will likely result in pushback from local sportsbooks and market advocates.
Because of this, the procedure 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 alter their minds. If and when the Senate discusses this measure, it is impossible to tell how it will be received.
