00:00and let's start off with Massachusetts and certainly we're hearing a lot about limits
00:04and people being forced to not be able to bet as much as they want some of it obviously is
00:09for protection other other sports books will limit you when they think you're winning too
00:14much if you don't think that exists then you've never bet on sports before uh Massachusetts I
00:18guess has a new notification process in play why do they even need to notify you Sam is does it
00:25really make a difference you tell me yeah well that's kind of uh the question that uh begs
00:31answering here you had Massachusetts uh about a month or two ago passed this new rule you know
00:37hearing concerns from bettors in the industry about limiting stake factoring as it's sometimes called
00:43which is a controversial practice where you know like you mentioned Craig sports books will limit
00:48how much winning bettors can bet oftentimes to amounts that where it's not even tenable to bet
00:53where it's less than dollars so basically stopping you from betting altogether uh they heard those
00:59concerns in Massachusetts they've been very active uh compared to most other states that make these
01:04kind of rules so they passed this new law where anytime uh a sports better gets limited a sports
01:10book in Massachusetts is required to notify them within 48 hours they're required to tell them you
01:16know exactly why they're being limited and explain exactly what kind of bets that applies to you know
01:22whether it's just basketball just football all kinds of sports so now that rule is actually in
01:29place you're already seeing uh you know messages get sent out to customers in Massachusetts it also
01:34applies to anyone uh like retroactively who had been limited in the past so it's not just customers
01:41that are being limited you know in this two-day span it's customers that had in some cases been
01:45limited months or years ago in Massachusetts uh I have you know some messages I'll read to you uh
01:51these companies are sending one from DraftKings says that these limits were imposed for internal risk
01:57management purposes after observing activity uh indicative of targeting perceived market inefficiency
02:04so that's obviously quite a lot of jargon and not very specific says it applies to all bets another one
02:10from
02:10fanatics says it observed behavior that's aligned with a network of restricted users that signal potential
02:16arbitrage positions so basically telling users that we think that you're targeting our book to ensure
02:24profit betting on both sides that's kind of the conundrum here is now that you're actually getting
02:29these messages that are required to be sent in the state it's whether or not they actually you know
02:34go far enough to explain to bettors exactly what's going on why they were limited all the messages
02:39I've seen you know none have mentioned specific bets you know the commission when they were drafting
02:44this rule was really concerned about kind of this thing entirely just you know companies saying it's
02:49a business decision you've been limited sorry so that is kind of the first step of trying to address
02:55this controversial practice now sports books also say that less than one percent of customers actually
03:01get limited it's actually very hard to be a profitable sports better you know whether or not that's
03:05actually true that is what this is kind of designed to help get more information about so the commission
03:11can always come back change rules adapt see if this is sufficient or not but so far that's the first
03:17time customers getting these kind of messages it's pretty interesting to see where we go from here
03:22here
03:22you
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