Massachusetts Could See Sports Betting Soon
Massachusetts could see sports betting soon. The legislation to legalize Commonwealth sports betting is being discussed quickly in the state legislature. Sports betting is part of an economic development bill of $ 372 million which includes funding for jobs, schools, childcare and other important initiatives.
“They wind up voting for the sports betting piece too as a necessary vehicle for them to get what they need in that package,” said Tony Cignoli, a political analyst with knowledge on sports betting negotiations.
If the bill passes, Massachusetts will become the 23rd state to legalize sports betting, including Washington D.C. The state is facing a huge budget deficit due to the coronavirus.
Sports betting was added to a $ 372 million economic development bill that funds job training, child care, and other assistance programs for Massachusetts residents. For sports betting, the bill includes mobile and retail sites for Massachusetts. There will not be a ban on better college sports, except for in-game props. The bill will also include league data as well as betting on sports.
It proposes to tax sports betting at 15 percent, and a 1 percent excise fee paid to sports venues, which will be used for sports wagering security and integrity. License application fees will cost operators $ 250k and have a five-year initial term. Renewal fees will cost $ 100k with a five-year renewal term.
[image: Pascal Bernardon]