Sports betting legalization in Massachusetts will be on the agenda during a formal session among House lawmakers on Thursday, July 22. House Bill 3974, which looks to regulate sports wagering in the state, has been approved by the Joint Committee on Economic Development and Emerging Technologies earlier this week. It is a revised version of Rep. Dan Cahill’s H 506.
The redrafted bill has been referred to the House Ways and Means Committee where it will be reviewed prior to the scheduled session on Thursday.
The legislation would legalize in-person betting at casinos, horse racing tracks and slots parlors. Only those aged at least 21 will be allowed to place wagers on professional and collegiate sporting events, as well as e-sports, motor racing, and competitive video games. Mobile gaming licenses would also be granted.
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Under the proposal, a 12.5 percent tax would be imposed on in-person wagers, while mobile bets would be levied at 15 percent.
State residents may also place bets on events in Massachusetts, and such wagers would be taxed at 1 percent. Revenue from this type of bets would be used for “sports wagering security and integrity“, and would be shared equally by the facilities hosting the events.
The redrafted bill makes no mention about in-stadium betting, and that’s one of the things that lawmakers will look at, as several sports teams have asked about it, according to State Rep. Jerald Parisella, co-chair of the economic development committee.
Sports betting in Massachusetts would fall under the supervision of the state’s Gaming Commission. The state could benefit from an estimated $70 million in annual tax revenue if the bill is passed.
Two major casinos in the state, the Plainridge Park Casino and Encore Boston Harbor, have welcomed the latest developments in relation to sports betting legalization in Massachusetts. In a joint statement, both casinos said an overwhelming majority of voters support regulated wagering, based on a poll they previously commissioned. Both companies said they look forward to seeing the bill passed as soon as possible.
The lack of a regulated sports betting market in Massachusetts has pushed local punters to turn towards illegal operators to make bets. The black market is eating up all of the revenue which should have gone to the state. Over the years, there have been attempts to legalize sports betting in Massachusetts but all of them failed.
This week’s House debate is the strongest indication yet that Massachusetts could finally embrace sports wagering, joining at least 30 states across the US.
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