The US state of Massachusetts now has a legitimate and regulated bookmaker’s market thanks to Governor Charlie Baker's signature.
New Rules
Any owner of a terrestrial casino or a racetrack in the state will be eligible to apply for a licence following House Bill 5164. Seven more permits for digital projects will also be made available. There is a $ 5 million cost for each registration.
Users will be allowed to wager on a variety of events, including collegiate sports, with the exclusion of competitions involving local teams. Internet wagering will be charged at 20% and retail at 15%.
The new betting vertical in the jurisdiction will be supervised by the Massachusetts Gaming Commission (MGC).
State Regulator
Cathy Judd-Stein from the MGC remarked the body appreciates the trust the Governor and the Legislature put in designating them for this growing sector.
The authority has been keeping an eye on betting policy for a while now and taking the necessary precautions to set itself up for a prospective role. The regulator will begin working to comprehend the scope of interest in business licensure.
MGC’s Executive Director Karen Wells said that a significant amount of tasks has been done by the crew in preparation for the bookmaker’s market being legal in Massachusetts.
Among the body’s actions are the following:
- listing more than 200 applicable guidelines;
- implementing a framework to make use of tech standards;
- creating infrastructure for examining and licensing appliers, etc.
With an emphasis on transparency, player safety, and consumer rights, the body will engage with its stakeholders to quickly establish this business niche.
Opposite Sides
The law was enacted by the state legislature, breaking months of impasse after the House and Senate both offered their versions with a big variation:
- A measure with a 12.5% tax rate, a $ 5.0 million licence fee, and few limits on content and advertising was proposed by the House in July 2021.
- The Senate's version had further limitations, such as a prohibition on certain forms of advertisement including promotional bets. The plan would have banned marketing during live sports events. It only permitted digital efforts if 85% of the viewers could be assumed to be 21+ years.
The Senate measure forbade bids on college athletics as well. Web bookmakers would have been subject to a 35% income levy, while offline sports betting would have paid a 20% tax.
Crucial Step
The state established the Sports Betting Conference Committee with representatives from both chambers. They have been working together to settle on a consensus law as a result of the discrepancies between the two proposals.
As the Committee gets ready to develop rules for the sector, the state gaming supervisors cautioned that the jurisdiction's betting market launch may take longer than anticipated.
Bradford Hill, the state’s commissioner, said the jurisdiction needed to prepare a robust set of laws even if this delays the launch date.
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