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Massachusetts is poised to hitch the sports activities betting recreation after the state legislature got here to an settlement early Monday morning that can enable licensed sportsbooks within the Commonwealth to supply wagering on skilled and newbie sports activities with some restrictions.
Gov. Charlie Baker, who has expressed help for sports activities betting legalization, has 10 days to behave on the Massachusetts Sports activities Wagering Act, which handed by a vote of 36-4.
“I’m proud to announce that the Sports activities Betting Convention Committee has reached an settlement on laws that can legalize wagering on skilled and faculty sports activities in Massachusetts, bringing the immense financial advantages of a authorized sports activities betting trade to [Massachusetts],” Ron Mariano, speaker of the Massachusetts Home of Representatives, tweeted at roughly 5 a.m. ET Monday.
Earlier variations of the laws included bans on betting on collegiate sports activities and promoting restrictions, which brought about a lot debate and extended the method. On July 21, Mariano informed reporters that the perimeters had been “far aside.” However the Home and Senate got here to an settlement Monday on a invoice that resembles the strategy of most of the states which have approved sports activities betting lately:
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On-line and retail wagering shall be allowed.
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Betting on occasions involving in-state schools like Boston School just isn’t permitted, until the groups are collaborating in a “collegiate event.”
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Bettors have to be 21 to put a wager with a licensed sportsbook and should not use a bank card.
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Sportsbooks shall be taxed 15% on web revenues from in-person wagers and 20% for on-line wagers.
The invoice additionally would enable a sports activities governing physique to enter right into a industrial settlement with a sportsbook and “share within the quantity wagered or revenues derived from sports activities wagering on sporting occasions of the sports activities governing physique.” Sports activities governing our bodies wouldn’t be required to acquire a license to take part in such revenue-sharing partnerships.
In an announcement, Jason Robins, CEO and co-founder of DraftKings, which is headquartered in Boston, thanked the invoice sponsors and mentioned the corporate is “thrilled” that the legislature got here to an settlement “to guard customers and develop income within the Commonwealth.”
“We’re hopeful that the legislature will transfer to rapidly go this invoice and Governor Baker will signal it into regulation,” Robins mentioned.
Thirty states, the District of Columbia and Puerto Rico have launched authorized sports activities betting markets since a 2018 ruling by the US Supreme Court docket opened a path for all jurisdictions to authorize wagering.
