In Massachusetts, the limited number of successful sports betting providers is coming into focus
Sports bettors who win more than they should in the eyes of the oddsmakers are often restricted or even banned from continuing to bet. Most states with legal sports betting allow the practice, but gambling regulators in Massachusetts are considering whether to change the practices.
At Thursday’s Massachusetts Gaming Commission (MGC) meeting, the topic of operator limits on betting was discussed toward the end of the more than two-hour session. The agency heard from MGC Sports Betting Operations Manager Andrew Steffen, who explained that the conversation was initiated last year by a member of the public who asked whether Massachusetts’ sports betting regulations would allow this. kind of business behavior.
Stephen told commissioners that the Sports Betting Division recently concluded that the practice is allowed under state sports betting rules. Steffen refers to the MGC regulations “Minimum and Maximum Betting: Additional Wagering Requirements.”
“Unless otherwise ordered by the Commission, there are no limits on the minimum or maximum bets that a sports betting operator may accept,” the regulations say. “This rule does not prevent sports betting operators from setting their own minimum or maximum bets, or for Restrict customers’ sports betting for reasons the sportsbook operator deems necessary or appropriate.”
Sports Betting Claims Good Reasons
Steffen told MGC Commissioner and Interim Executive Director Jordan Maynard that his department is consulting with MGC’s legal team and working with the group appointed earlier this month by Gov. Maura Healey (D) in Kathy. Meeting with interim executive director Jordan Maynard, who was appointed following the resignation of Judd Stein. Sports betting teams decide if regulatory changes are needed.
Stephen said sportsbooks claimed they set betting limits to "manage risk" and "maintain the integrity of sporting events." The licensee also said the restrictions would promote "fair competition" and prevent "betting from having an undue influence on the outcome of a match".
Stephen went on to say that sports betting providers admit that they also limit bets per customer. Much to the chagrin of savvy professional bettors, Massachusetts sportsbooks say knowledgeable bettors are sometimes limited.
Sports betting agency representatives told Stephen that their sports betting terms and conditions clearly state that they have regulatory authority to limit the number of bettors. Boston-based DraftKings provided its internal rules agreement, which states the book "reserves the right to limit maximum bet amounts... in its sole discretion."
Conversation in progress
Commissioners questioned whether sports betting would place restrictions on bettors who consistently lose money and those who consistently win. With March being Problem Gambling Awareness Month and the focus on responsible gambling, Commissioner Erin O'Brien said operators may have too much discretion.
"There's a deeper issue here regarding individual patrons. Their internal rules are very vague about discretionary management. As a commissioner, what I'm curious about is: 'What's the basis for (the restrictions)?'" O'Brien asked.
How and why they impose these restrictions will be critical to whether we need to change this regulation and help us advance AI research, and whether we develop regulations that require some of this information. The decision was made to proactively report problematic players,” O’Brien continued.
Commissioners plan to continue the discussion at a future meeting. Those discussions are likely to take place behind closed doors, as O'Brien is skeptical sportsbooks will claim they are using proprietary means to determine caps.
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Source: www.casino.org
