Massachusetts Governor Charlie Baker is ready to get going with sports betting in 2019. Last week, the Governor decided to introduce a proposal that will allow the casinos in the sate to offer sports betting services. The wagering option would be made available online as well as in land-based venues.
With the new proposal, Baker would put the Massachusetts Gaming Commission in charge. The group already is the regulator behind the casinos in the state, so they could easily begin to oversee sports betting.
The legislation sets a 10% tax on revenues from on-site gaming. Online gaming would have a slightly higher tax rate of 12.5%. The online sports betting sector will be taxed slightly higher to try and even out the competition in the state.
According to the Governor, the bill will create several proposals to ensure that any potential operator seeking licensing will be vetted thoroughly. Safeguards would also be create to protect consumers from problem gambling as well as preventing illegal activity.
On top of sports betting, the proposal will allow operators who offer daily fantasy sports to offer sports betting as well. Such companies as DraftKings will be open to this idea s they already offer sports betting in states like New Jersey.
In Massachusetts, it has been estimated that as much as $35 million can be earned by way of tax revenues from the new industry. That state would use the money to provide aid for local towns and cities.
With sports betting, the legislation has a stipulation where operators will not be allowed to offer wagers on college or amateur events. For now, the bill is in its early stages. It will certainly be interesting to see if the measure can move forward and if Massachusetts will be the next state to get started with sports betting in the United States.
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