Massachusetts to tackle sports betting
The gambling regulator has two hearings scheduled for this week to debate Massachusetts sports betting as the segment continues to expand in the US.
US.- Massachusetts may soon decide whether to legalise sports betting in the state as it will discuss it in Congress. There are two hearings scheduled for this week, to discuss the segment’s legalisation as several states jump into the action.
Lawmakers will have nine different Massachusetts sports betting bills to consider. One of which was submitted by the state’s governor, Charlie Baker.
The first hearing is scheduled for Tuesday, May 28, in the Joint Committee on Economic Development and Emerging Technologies. They will hear testimony from attendees on legalised sports betting in Massachusetts.
The second one will be on Wednesday. It is an open forum designed to receive public input on the subject.
The governor’s bill
Massachusetts Governor Charlie Baker introduced a new proposal in January that aims to legalise and tax bets on professional sports both online and at local casinos. The law would allow other entities to be licensed to offer the modality as well.
Baker detailed that he would file legislation to allow the Massachusetts Gaming Commission (MGC) to license the three casino operators in the state to offer on-site and online sports betting. This legislation would also pave the way for other operators, such as daily fantasy sports (DFS) entities to be licensed for sports betting.
“Our legislation puts forth a series of commonsense proposals to ensure potential licensees are thoroughly vetted and safeguards are in place to protect against problem gambling and illegal activity,” said Baker in a statement.
The legislative piece would set a 10% tax on sports betting inside casinos, while online bets would be taxed at 12.5%; DFS operators are included in this category. The MGC would oversee sports betting operations both online and at casinos.
Official estimations said that taxes would raise US$35 million in Massachusetts’ next fiscal year, with the money from operations going towards local cities and towns. Bets on collegiate sports or amateur events would be prohibited.
