May the Senate Invoice ultimately result in authorized MA sports activities betting?
As promised, Senator Brendan Crighton submitted the sports betting bill that he hopes could finally spawn legal MA sports betting.
Crighton broken down the relevant points for LSR earlier this month, and it doesn’t seem like any surprises SD 177.
“We’ve changed our bill over the past few years, but we’re pretty confident in the product we have now,” Crighton said at the time.
Crighton’s legislation would require an upfront payment $ 10 million Fee from any gaming operator wishing to offer sports betting in Massachusetts. Income from sports betting would also be taxed 15%. The bill prohibits betting on In-state college sports.
Massachusetts would obviously be better off acting sooner than later to get laws passed. Sports betting dollars are already flowing freely across the border New Hampshire and Rhode Islandwho both legalized more than 18 months in front.
Who can participate in MA sports betting?
After the release of SD 177 we know who is waiting for a sports betting license:
- Massachusetts two full-service casinos – Encore Boston Harbor and MGM Springfield – and be Plainridge Park Racino operated by Penn National.
- That means Bar stool sports betting, BetMGM and WynnBET are guaranteed licenses.
- Racecourses and off-track betting opportunities. New racetracks would be needed to at least invest $ 25 million qualify for a license within three years.
- Sports betting provider for mobile phones only.
All licenses would be good for 5 years with a $ 1.25 million Renewal fee. There are currently no restrictions on licenses. However, this could change if the bill goes through legislature.
Crighton mentioned that he might bring in his bill $ 70 million for the state before a bet is accepted.
House proposal calls for betting study
Rep. Bradford Hill has its own proposal for sports betting, but it could slow the adoption of a legal industry significantly.
HD 118 and HD 119 Establishment of a special commission that deals extensively with online sports betting. The eight-member commission would include nominated individuals Governor Charlie Baker, the Massachusetts Gaming Commission and leaders in the House and Senate.
The invoices are identical except for the breakdown of tax revenue.
“I want as many bills as possible so we can pass something on,” said Hill.
The commission would have to meet within 30 days the bill passage. A recommendation for sports betting legislation would be due within 120 days the bill passage.
Hill’s proposal also includes taxes daily fantasy sports Revenue at 15% with a registration fee that is the lesser of $ 100,000 or 1.5% the gross income of the operator from the previous year. DFS is not illegal in Massachusetts, but there is currently no tax structure.