From d883e74152fb39253e21b2e2cbd7be2dbaef437b Mon Sep 17 00:00:00 2001 From: mckenziesharp Date: Thu, 30 Jan 2025 01:22:29 +0000 Subject: [PATCH] Update 'Recent MA Sports Betting Bill Includes Massive Tax Increase and Ban on In-Play Betting' --- ...Tax-Increase-and-Ban-on-In-Play-Betting.md | 22 +++++++++++++++++++ 1 file changed, 22 insertions(+) create mode 100644 Recent-MA-Sports-Betting-Bill-Includes-Massive-Tax-Increase-and-Ban-on-In-Play-Betting.md diff --git a/Recent-MA-Sports-Betting-Bill-Includes-Massive-Tax-Increase-and-Ban-on-In-Play-Betting.md b/Recent-MA-Sports-Betting-Bill-Includes-Massive-Tax-Increase-and-Ban-on-In-Play-Betting.md new file mode 100644 index 0000000..47d0d30 --- /dev/null +++ b/Recent-MA-Sports-Betting-Bill-Includes-Massive-Tax-Increase-and-Ban-on-In-Play-Betting.md @@ -0,0 +1,22 @@ +
Massachusetts [sports betting](https://loveyou.az/read-blog/27098_sport-betting-industry-seeks-to-protect-itself.html) might look totally various if a brand-new bill proposed in the Senate achieves success. And if history is any sign, managed [sports betting](https://vieclamtop1.com/sport-betting-industry-aims-to-protect-itself/) in other states might also change considerably.
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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%. Furthermore, Sen. Keenan requires a complete ban on live betting (in-game wagering) and prop bets.
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) +
The main thing to remember is that Massachusetts has actually been at the leading edge of stricter [sports betting](https://aceme.ink/read-blog/2962_new-ma-sports-betting-proposal-contains-massive-tax-hike-and-ban-on-live-betting.html) policies. The second thing to understand is that the language of this expense is similar to the SAFE Bet Act, a federal piece of legislation presented in 2024.
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This costs was introduced not long after previous Massachusetts Governor and current NCAA president Charlie Baker affirmed in front of the Senate in a meeting on [sports betting](https://www.bisshogram.com/read-blog/205_latest-ma-sports-betting-legislation-includes-massive-tax-hike-amp-restriction-o.html) policy.
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So, while this is currently a Massachusetts expense, it's likely to impact other states that provide controlled [sports betting](https://japapmessenger.com/read-blog/6191_cover-the-bases-sports-betting-news-and-notes-from-the-past-week.html).
+A closer take a look at SD 1657 +Taxation +
Beginning with the tax rate boost, bringing [sports betting](https://glbian.com/prd/bbs/board.php?bo_table=free&wr_id=449812) to 51% has been a target for Sen. Keenan before. Keenan proposed a tax boost at the last legal session, but it was declined. This increase would have been available in the state's spending plan expense.
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Just 3 markets have tax rates of 51%, the highest in the country: New York, Rhode Island, and New Hampshire. At 20%, Massachusetts presently ranks sixth highest.
+Banning live betting and prop betting +
The measure restricts in-play (live betting) or prop betting. Just straight wagers would be permitted, restricting sportsbooks to using just moneyline, spread, and overalls.
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) +
While Massachusetts and other markets have limitations on college wagering, this would affect even professional sporting events.
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The bill likewise looks for to include perks and same-game parlays to the classification 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 wagered.
+Player Limits +
SD 1657 also intends to produce compulsory day-to-day and monthly limits for bettors. Bettors could not wager more than $1,000 a day and $10,000 a month without an 'cost evaluation' which includes examining savings account. A player can not wager more than 15% of the quantity in their account.
[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) +
Massachusetts would end up being the first market to require an affordability evaluation on bettors.
+Marketing restrictions +
Keenan also wants to eliminate marketing during telecasted sporting occasions. The step would prohibit sportsbooks from running advertisements during video games. The Massachusetts Gaming Commission has looked into producing a ban on in-game advertisements before. Nevertheless, this did not go through as national television deals make this difficult to implement.
+Will the measure pass? +
The procedure is extreme in its changes to the [sports betting](https://gofleeks.com/read-blog/10142_cover-the-bases-sports-betting-news-and-notes-from-the-past-week.html) industry in Massachusetts. Banning prop betting and increasing the [sports betting](https://www.lamgharba.ma/read-blog/1339_recent-massachusetts-sports-betting-bill-features-substantial-tax-hike-and-prohi.html) tax rate will likely lead to pushback from local sportsbooks and industry supporters.
[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG) +
Because of this, the measure will likely be combated in the Senate and your house of Representatives. In the previous session, Keenan stopped working to raise the tax rate.
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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 measure, it is impossible to tell how it will be received.
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