New Jersey, Pennsylvania and New York are Northeast coastal markets all having major success with legal sports betting. Massachusetts could follow the trend.
Governor Charlie Baker signed a bill into law confirming the presence of retail and mobile sportsbooks in the state. The signature comes after ten days to earmark the approval by the state House. The Massachusetts Gaming Commission is fully in charge of the measure.
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The Massachusetts Gaming Commission has to right to issue retail sportsbooks to racetracks, casinos, and simulcast facilities. The Commission has to right to issue online sportsbooks via digital platforms and mobile apps. The next step involves waiting for the day to launch.
The legal betting age is 21 or older. This is tied to legal gambling at the casino. Lotteries and pari-mutuel wagering are restricted to anyone 17 and under.
State lawmakers, Gov. Charlies Baker and the Massachusetts Gaming Commission have a hand in making the dream a reality. The sportsbooks have a hand in making money for the state. The Massachusetts sports bettors are waiting for the lights to go live.
Massachusetts Sports Betting
The introduction of Massachusetts sports betting is major potential for Bay State. The NFL’s New England will lead the charge. The NBA’s Boston Celtics, the NHL’s Boston Bruins and the MLB’s Boston Red Sox are three more ways to beef up the revenue.
The Massachusetts tax rate will lead to 15% on retail sportsbook and 20% on online sports betting. Current valuations are $60 million in tax revenue on an annual basis.
The Massachusetts Gaming Commission estimate more than double the operators would initially apply for 15 online sportsbooks.
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Which Major Sportsbooks Will Be In the Bay State
FanDuel, DraftKings, and BetMGM are the top three sportsbooks in the state. The Big Three are actively working across Massachusetts. Caesars Sportsbook is likely to join the list.
Rush Street Interactive has BetRivers, PlaySugarHouse, and RushBet to move in this market. Penn National Gaming’s Barstool Sportsbook is a major brand to get started. PointsBet, Bally Bet, FOX Bet, and WynnBET are a few of the missing pieces. SI Sportsbook would be another sports betting site.
As the Massachusetts Gaming Commission gets near to name a date, the full sportsbook debate will be decided. The Bay State’s sports betting industry should be live from the start as all the players fill the participating roles.
