commit 3811b074bf6c8d9a09317cec27212b1f4eeb7528 Author: chanaamadio507 Date: Wed Jan 29 22:33:29 2025 +0800 Add Recent Massachusetts Sports Betting Proposal Includes Massive Tax Hike and Ban on Live Betting diff --git a/Recent-Massachusetts-Sports-Betting-Proposal-Includes-Massive-Tax-Hike-and-Ban-on-Live-Betting.md b/Recent-Massachusetts-Sports-Betting-Proposal-Includes-Massive-Tax-Hike-and-Ban-on-Live-Betting.md new file mode 100644 index 0000000..07c0bae --- /dev/null +++ b/Recent-Massachusetts-Sports-Betting-Proposal-Includes-Massive-Tax-Hike-and-Ban-on-Live-Betting.md @@ -0,0 +1,22 @@ +[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
Massachusetts [sports betting](https://linkpiz.com/vn/34984/massachusetts-proposal-includes-significant-prohibition) might look totally various if a brand-new bill proposed in the Senate succeeds. And if history is any indication, managed sports betting in other states could also change dramatically.
+
SD 1657 existed by Sen. John Keenan. "An Act Addressing Economic, Health, and Social Harms Caused by Sports Betting" intends to increase the existing [sports betting](https://reckoningz.com/cover-the-bases-sports-betting-news-and-notes-from-the-past-week-3/) tax rate from 20% to 51%. Furthermore, Sen. Keenan requires a complete restriction on live betting (in-game wagering) and prop bets.
[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) +
The main thing to remember 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 bill resembles the SAFE Bet Act, a federal piece of legislation introduced in 2024.
+
This costs was presented not long after former Massachusetts Governor and present NCAA president Charlie Baker affirmed in front of the Senate in a meeting on [sports betting](https://socialgem.net/read-blog/17364_cover-the-bases-sports-betting-news-and-notes-from-the-past-week.html) guideline.
+
So, while this is presently a Massachusetts costs, it's likely to affect other states that offer managed sports betting.
+A closer take a look at SD 1657 +Taxation +
Beginning with the tax rate increase, bringing [sports betting](https://www.hb9lc.org/wiki/index.php/Cover_The_Bases:_Sports_Betting_News_And_Notes_From_The_Past_Week) to 51% has actually been a target for Sen. Keenan before. Keenan proposed a tax boost at the last legislative session, however it was declined. This boost would have can be found in the state's spending plan expense.
+
Only 3 markets have tax rates of 51%, the highest in the country: New York, Rhode Island, and New Hampshire. At 20%, Massachusetts currently ranks 6th highest.
+Banning live betting and prop betting +
The procedure forbids in-play (live betting) or prop betting. Only straight wagers would be enabled, limiting sportsbooks to using only moneyline, spread, and totals.
+
While Massachusetts and other markets have limitations on college wagering, this would impact even professional sporting occasions.
+
The costs also seeks to include bonuses 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 deflect each $1 wagered.
+Player Limits +
SD 1657 also aims to produce compulsory daily and regular monthly limits for bettors. Bettors might not wager more than $1,000 a day and $10,000 a month without an 'affordability assessment' which involves checking 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 need a price assessment on bettors.
+Advertising constraints +
Keenan also wants to get rid of advertising during telecasted sporting events. The step would forbid sportsbooks from running ads throughout games. The Massachusetts Gaming Commission has actually looked into developing a restriction on in-game ads before. Nevertheless, this did not go through as national TV offers make this tough to implement.
+Will the procedure pass? +
The step is harsh 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 supporters.
[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) +
Because of this, the step 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 convince the other senators who did not support his effort before to change their minds. If and when the Senate discusses this procedure, it is impossible to inform how it will be received.
[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) \ No newline at end of file