Massachusetts House of Representatives Approves Sports Betting Legalization

An economic development package bill that also contains a sports betting legalization section was green-lit by The House of Representatives in Massachusetts.

With a voting tally of 156-3 in favor go H.4879, the House moved the bill on July 28th to the state Senate, having been only introduced last week.

Key Measures

In case the Senate makes further changes to the bill…

…The House will need to approve their amendments by Friday, July 31st, when the Massachusetts legislative session will conclude. H.4879 is an act which aims to facilitate partnerships for growth in the state.

It also sets out a number of proposed measures which include the Massachusetts Sports Wagering Act that looks to legalize online, mobile and land-based sports betting.

Some of the key measures in the wagering bill are:

  • The three licenses: Category 1 for online, mobile and in-person sports betting, Category 2 for in-person betting at racetracks and Category 3 for sports betting via mobile application or online.
  • Licenses would cost $250,000 and last for five years. Renewing permits would coast $100,000 and would last another 5 years.
  • License-holders need to pay a fee based on the amount of bets taken on events that take place inside Massachusetts. The rate of 1% of adjusted gross sports wagering receipts is set.

Some Amendments

Also, the new Act would instate the Massachusetts Gaming Commission that would in charge of awarding licenses to operators.

The taxation is also present in the bill: while the original bill stated that operators need to pay 15% of their adjusted gross sports wagering handle, this was amended to 30%!

Other amendments include the legalization of online lottery sales that allows the Lottery Commission to implement promotional activities to encourage the buying of lottery tickets.

Players would be able to self-exclude from online lottery and would be able to set maximum deposit and spending limits. Operation and administration costs in running the online lottery product may not exceed 15% of ticket sale revenue.

Category 2 licensees can also offer mobile betting solutions on racetracks. The state lottery would be allowed to offer online fantasy sports, as well.

Source:

“Massachusetts House clears amended sports betting bill”, igbnorthamerica.com, July 29th, 2020.



Nguồn: RealMoneyAction.com https://www.realmoneyaction.com/massachusetts-house-of-representatives-approves-sports-betting-legalization/
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