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UK Betting Firms Gamble on United States After Sports Wager Ruling

Overview

  • Founded Date July 19, 1984
  • Sectors Telecom
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Company Description

Latest MA Sports Gambling Bill Contains Significant Tax Hike and Ban on Live Betting

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Massachusetts sports betting could look totally different if a brand-new costs proposed in the Senate is successful. And if history is any sign, managed sports betting in other states might also change significantly.

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SD 1657 existed by Sen. John Keenan. “An Act Addressing Economic, Health, and Social Harms Caused by Sports Betting” intends to increase the current sports betting tax rate from 20% to 51%. Additionally, Sen. Keenan requires a complete ban on live sports betting (in-game wagering) and prop bets.

The main point to remember is that Massachusetts has actually been at the forefront of stricter sports betting policies. The 2nd thing to know is that the language of this bill is similar to the SAFE Bet Act, a federal piece of legislation presented in 2024.

This costs was presented not long after former Massachusetts Governor and current NCAA president Charlie Baker testified in front of the Senate in a on sports betting regulation.

So, while this is currently a Massachusetts expense, it’s most likely to impact other states that use regulated sports betting.

A closer look at SD 1657

Taxation

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 legislative session, however it was rejected. This boost would have come in the state’s budget expense.

Only three markets have tax rates of 51%, the highest in the nation: New York, Rhode Island, and New Hampshire. At 20%, Massachusetts presently ranks 6th greatest.

Prohibiting live betting and prop betting

The measure forbids 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 limitations on collegiate wagering, this would impact even professional sporting events.

The costs also looks for to include perks and same-game parlays to the category of “unreasonable and misleading practices.” Sportsbooks favour same-game parlays due to their high “hold” percentage, the quantity of money they keep off each $1 wagered.

Player Limits

SD 1657 also intends to produce mandatory daily and monthly limitations for bettors. Bettors could not wager more than $1,000 a day and $10,000 a month without an ‘affordability evaluation’ which involves inspecting savings account. 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 constraints

Keenan likewise wishes to remove marketing during televised sporting events. The procedure would restrict sportsbooks from running ads during video games. The Massachusetts Gaming Commission has looked into producing a restriction on in-game ads before. However, this did not go through as national TV deals make this difficult to impose.

Will the measure pass?

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

Because of this, the step will likely be combated in the Senate and your house of Representatives. In the previous session, Keenan stopped working to raise the tax rate.

He would have to persuade the other senators who did not support his effort before to alter their minds. If and when the Senate discusses this measure, it is impossible to tell how it will be received.