From 831e520f46bd1d40dd7c83cc1665fc84f6141977 Mon Sep 17 00:00:00 2001 From: fredrickt76532 Date: Wed, 29 Jan 2025 15:10:39 +0000 Subject: [PATCH] Update 'Latest MA Sports Betting Bill Contains Massive Tax Boost and Ban on In-Play Betting' --- ...ve-Tax-Boost-and-Ban-on-In-Play-Betting.md | 22 +++++++++++++++++++ 1 file changed, 22 insertions(+) create mode 100644 Latest-MA-Sports-Betting-Bill-Contains-Massive-Tax-Boost-and-Ban-on-In-Play-Betting.md diff --git a/Latest-MA-Sports-Betting-Bill-Contains-Massive-Tax-Boost-and-Ban-on-In-Play-Betting.md b/Latest-MA-Sports-Betting-Bill-Contains-Massive-Tax-Boost-and-Ban-on-In-Play-Betting.md new file mode 100644 index 0000000..5530a88 --- /dev/null +++ b/Latest-MA-Sports-Betting-Bill-Contains-Massive-Tax-Boost-and-Ban-on-In-Play-Betting.md @@ -0,0 +1,22 @@ +[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig)
Massachusetts [sports betting](https://www.athleticzoneforum.com/read-blog/2030_sport-betting-industry-wants-to-protect-itself.html) could look completely different if a new costs proposed in the Senate succeeds. And if history is any sign, regulated [sports betting](https://dream-weaver.co.kr/bbs/board.php?bo_table=free&wr_id=675255) in other states might likewise change dramatically.
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SD 1657 was presented by Sen. John Keenan. "An Act Addressing Economic, Health, and Social Harms Caused by [Sports Betting](https://aceme.ink/read-blog/2962_new-ma-sports-betting-proposal-contains-massive-tax-hike-and-ban-on-live-betting.html)" intends to increase the existing [sports betting](http://wikimi.de/doku.php/new_ma_spo_ts_betting_legislation_includes_substantial_tax_hike) tax rate from 20% to 51%. In Addition, Sen. Keenan requires a total restriction on live [sports betting](https://dream-weaver.co.kr/bbs/board.php?bo_table=free&wr_id=675255) (in-game wagering) and prop bets.
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The main thing to remember is that Massachusetts has actually been at the forefront of more stringent [sports betting](https://www.jaitun.com/read-blog/26156_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) regulations. The 2nd thing to understand is that the language of this bill is similar to the SAFE Bet Act, a federal piece of legislation presented in 2024.
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This expense 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](https://iprofile.sv3.gramick.dev/read-blog/3877_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) regulation.
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So, while this is presently a Massachusetts bill, it's likely to impact other states that use managed [sports betting](http://addsub.wiki/index.php/User:RaphaelDrescher).
+A closer take a look at SD 1657 +Taxation +
Beginning with the tax rate boost, bringing [sports betting](https://bence.net/read-blog/7384_sport-betting-industry-looks-to-protect-itself.html) to 51% has actually been a target for Sen. Keenan before. Keenan proposed a tax boost at the last legislative session, however it was rejected. This boost would have can be found in the state's budget plan costs.
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Just 3 markets have tax rates of 51%, the highest in the nation: New York, Rhode Island, and New Hampshire. At 20%, Massachusetts presently ranks sixth highest.
+Prohibiting live betting and prop betting +
The step forbids in-play (live [sports betting](https://hyped4gamers.com/read-blog/2779_sport-betting-industry-wants-to-protect-itself.html)) or prop [sports betting](http://archmageriseswiki.com/index.php/UK_Betting_Firms_Gamble_On_United_States_After_Sports_Wager_Ruling). Only straight wagers would be allowed, limiting sportsbooks to providing just moneyline, spread, and overalls.
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While Massachusetts and other markets have restrictions on collegiate [sports betting](https://social.mirrororg.com/read-blog/9948_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html), this would impact even professional sporting events.
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The expense likewise seeks to add bonuses and same-game parlays to the category of "unjust and misleading practices." Sportsbooks favour same-game parlays due to their high "hold" portion, the quantity of money they deflect each $1 bet.
+Gamer Limits +
SD 1657 also intends to produce compulsory day-to-day and monthly limitations for bettors. Bettors might not wager more than $1,000 a day and $10,000 a month without an 'price evaluation' which includes examining bank accounts. A gamer can not wager more than 15% of the amount in their account.
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Massachusetts would become the first market to need an affordability evaluation on bettors.
+Advertising constraints +
Keenan also wishes to eliminate marketing during televised sporting occasions. The step would restrict sportsbooks from running advertisements during games. The Massachusetts Gaming Commission has checked out creating a ban on in-game ads before. Nevertheless, this did not go through as nationwide television deals make this hard to implement.
+Will the measure pass? +
The measure is harsh in its changes to the [sports betting](http://maili.demoe.cn:112/read-blog/783_recent-ma-sports-betting-bill-includes-substantial-tax-hike-amp-ban-on-real-time.html) industry in Massachusetts. Banning prop [sports betting](https://www.tobeop.com/cover-the-bases-sports-betting-news-and-notes-from-the-past-week-2/) and increasing the [sports betting](https://hankukenergy.kr/bbs/board.php?bo_table=free&wr_id=158943) tax rate will likely cause pushback from local sportsbooks and market supporters.
[bet9ja.com](https://register.bet9ja.com/?btag=yohaig&promocode=yohaig) +
Because of this, the step will likely be combated in the Senate and your home of Representatives. In the previous session, Keenan failed 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 alter their minds. If and when the Senate discusses this step, it is difficult to inform how it will be received.
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