MA Sports Betting

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Quann
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MA Sports Betting

Post by Quann » Thu Jan 26, 2023 6:03 pm

We’re only a few days from this going live in Massachusetts. Disappointing we can’t bet on UMass but I can understand the reason for prohibiting it. Does anybody understand how they are going to collect the state tax on each bet? I haven’t looked too hard but didn’t see where that was explained.

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Re: MA Sports Betting

Post by mdogt12 » Thu Jan 26, 2023 6:13 pm

https://www.miamiherald.com/betting/art ... 75627.html
The 15-20% tax is what the betting companies are responsible for

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Quann
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Re: MA Sports Betting

Post by Quann » Fri Jan 27, 2023 12:41 pm

Oh ok. Knowing MA, I’m sure they’ll figure out a way to tax individuals winnings at some point. The tax man never turns down new revenue streams in the commonwealth.

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Re: MA Sports Betting

Post by Floyd » Fri Jan 27, 2023 1:06 pm

I'll make a bet. I bet more people lose than win
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InnervisionsUMASS
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Re: MA Sports Betting

Post by InnervisionsUMASS » Fri Jan 27, 2023 1:34 pm

Quann wrote: Fri Jan 27, 2023 12:41 pm Oh ok. Knowing MA, I’m sure they’ll figure out a way to tax individuals winnings at some point. The tax man never turns down new revenue streams in the commonwealth.

Wouldn't you get a 1099 from the casino if you cashed something over a certain amount? There's likely an already built in threshold... they aren't going to tax you on a $100 winner. As much as the Commonwealth likes money, it likes working less.
Stop waiting for UMass to do something big and help UMass do something big. - Shades

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Re: MA Sports Betting

Post by m626t » Fri Jan 27, 2023 3:39 pm

Quann wrote: Thu Jan 26, 2023 6:03 pm We’re only a few days from this going live in Massachusetts. Disappointing we can’t bet on UMass but I can understand the reason for prohibiting it. Does anybody understand how they are going to collect the state tax on each bet? I haven’t looked too hard but didn’t see where that was explained.
Admittedly I haven't been paying attention to this, but why can't we place a wager on UMass teams? We can bet on other college teams, no?
All due respect, and I mean that from the bottom of my heart, I'm gonna pass.

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InnervisionsUMASS
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Re: MA Sports Betting

Post by InnervisionsUMASS » Fri Jan 27, 2023 3:41 pm

m626t wrote: Fri Jan 27, 2023 3:39 pm
Quann wrote: Thu Jan 26, 2023 6:03 pm We’re only a few days from this going live in Massachusetts. Disappointing we can’t bet on UMass but I can understand the reason for prohibiting it. Does anybody understand how they are going to collect the state tax on each bet? I haven’t looked too hard but didn’t see where that was explained.
Admittedly I haven't been paying attention to this, but why can't we place a wager on UMass teams? Thanks

The Commonwealth was worried that betting on local college teams might somehow cause a scandal with point shaving and such. The only time you'll be able to bet on an MA-based college team is if they are in a post-season tournament.
Stop waiting for UMass to do something big and help UMass do something big. - Shades

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Re: MA Sports Betting

Post by m626t » Fri Jan 27, 2023 3:54 pm

/\
Hmm...what about betting on UMass teams via a legal sports book if you're in Vegas, Atlantic City etc? Did the Commonwealth ban betting on any public or private school located in Massachusetts, from anywhere in the world? Hope this isn't a dumb question. :?
All due respect, and I mean that from the bottom of my heart, I'm gonna pass.

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Re: MA Sports Betting

Post by InnervisionsUMASS » Fri Jan 27, 2023 3:59 pm

m626t wrote: Fri Jan 27, 2023 3:54 pm /\
Hmm...what about betting on UMass teams via a legal sports book if you're in Vegas, Atlantic City etc? Did the Commonwealth ban betting on any public or private school located in Massachusetts, from anywhere in the world? Hope this isn't a dumb question. :?

I think it is a proximity thing, so just bets on those MA based schools placed from within MA via an MA based sportsbook... I'm not agreeing with it, but that's just how I understand it. We're lucky there's college sports betting at all... one of the branches of the state house didn't want it included, preiod.
Stop waiting for UMass to do something big and help UMass do something big. - Shades

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Re: MA Sports Betting

Post by Floyd » Fri Jan 27, 2023 5:40 pm

Is that really true IV? That's messed up
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Re: MA Sports Betting

Post by Minutemaniac74 » Fri Jan 27, 2023 6:49 pm

The rule about Massachusetts sports teams is true. However, the state commission can only control bets within Massachusetts. So if you are in Vegas (or even CT), you can place wagers on Massachusetts teams.

As far as taxes go, the state taxes all winning individual wagers over $1200. You could turn in five $1000 winners and not get taxed, but they'll tax you on a single $1200 winner

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Quann
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Re: MA Sports Betting

Post by Quann » Sat Jan 28, 2023 10:25 am

^^^^
That was the info I was looking for. Thank you.

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Re: MA Sports Betting

Post by bleedmaroon » Sat Jan 28, 2023 1:07 pm

InnervisionsUMASS wrote: Fri Jan 27, 2023 3:41 pm
m626t wrote: Fri Jan 27, 2023 3:39 pm
Quann wrote: Thu Jan 26, 2023 6:03 pm We’re only a few days from this going live in Massachusetts. Disappointing we can’t bet on UMass but I can understand the reason for prohibiting it. Does anybody understand how they are going to collect the state tax on each bet? I haven’t looked too hard but didn’t see where that was explained.
Admittedly I haven't been paying attention to this, but why can't we place a wager on UMass teams? Thanks

The Commonwealth was worried that betting on local college teams might somehow cause a scandal with point shaving and such. The only time you'll be able to bet on an MA-based college team is if they are in a post-season tournament.

So corruption only occurs during the regular season? That makes no sense.

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Re: MA Sports Betting

Post by 69MG » Sun Jan 29, 2023 12:39 am

^ Are you forgetting that this is Massachusetts? The State Legislature is either late getting things approved compared to other states (legalized gambling is the best example) or they screw it up with absurd regulations.

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Quann
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Re: MA Sports Betting

Post by Quann » Sun Jan 29, 2023 8:13 am

I try not to get too worked up anymore about dumb legislation in this state, it's par for the course here.

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