Massachusetts Sports Betting Update: This Week in Gambling #Shorts - Video Slots
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Watch This Week in Gambling Video: Massachusetts Sports Betting Update: This Week in Gambling #Shorts.
Interested in Massachusetts sports betting? Want to know when you can legally make sports bets in Massachusetts? We have your answers! Check out our #shorts video from our weekly gambling news update for the latest information on when Massachusetts sports betting, including when you can place bet in person at casinos, and when residents will be able to participate in mobile Massachusetts sports betting! Then, click through to watch the entire video, with more gambling news from California, Missouri, and Texas!
More on Massachusetts Sports Betting:
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Twenty-nine potential operators submitted Massachusetts sports betting surveys to the Gaming Commission. The survey was a first step in the application process, and it's possible not all of those will submit full applications, which are due with a $200,000 processing fee. Mobile Massachusetts sports betting generated the most interest, with surveys submitted from 23 potential applicants — including the Boston-based DraftKings.
The law sets the maximum number of mobile betting licenses at seven. Commissioners have said that, if a flood of applications comes in for those licenses, assessing each would-be operator could take more time than anticipated and make that early March launch date less realistic. The law establishes a 15% tax on bets placed in person, with mobile bets taxed at 20%. Lawmakers said when they passed the bill that Massachusetts sports betting would generate an estimated $60 million in annual tax revenue. The state also expects to collect as much as $80 million in initial licensing fees that will need to be renewed every five years.
Compared to the state's more than $50 billion annual budget, tens of millions of dollars in tax revenue is a relatively small addition. Until bets can legally be placed here, though, it's money that in many cases is being pocketed instead by the black market or by states like Connecticut that already have authorized wagering operations up-and-running. Massachusetts sports betting will be taking bets before the Super Bowl in 2023, with online bets expected to follow sometime in the spring.
The Massachusetts sports betting law legalizes online and in-person sports betting in the state. For Massachusetts online sports betting to officially launch, rules, regulations, licensing, and testing must all happen beforehand. Although state representatives passed a sports betting bill by a lopsided 156-3-1 margin in July 2021, the bill bogged down in the Senate amid the aforementioned budget concerns (or, more accurately, a lack thereof.) The Senate did have its own sports betting bill active during the same period, but it met with similar legislative resistance. A late-night compromise resulted in a favorable vote on Aug. 1. Gov. Baker signed it one day before the 10-day deadline.
The 2022 Massachusetts sports betting law legalizes the activity, but there are currently no legal sports betting options in Massachusetts. A launch is anticipated soon. That means that no matter what gambling venue you visit in the state – casino, lottery retailer, or racetrack – legal sports betting is not available just yet.
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