A late economic development package submitted in Massachusetts could lead to another state legalizing sports betting in 2020.
The bill should pass the House but will face more scrutiny in the Senate, sources told the Springfield Republican. The session ends next Friday.
Massachusetts sports betting details
Sportsbooks in Massachusetts won’t be as limited as the state’s gaming landscape looks currently.
The bill would authorize Massachusetts’ three casinos, racetracks, and daily fantasy sports operators to offer sports betting. The DFS operators must have operated in Massachusetts for at least a year before the bill is passed and be approved to offer sports wagering in at least two other US jurisdictions.
That caveat means FanDuel Sportsbook and Boston-based DraftKings Sportsbook would both qualify for an untethered license. Massachusetts would join Illinois, Tennessee and Virginia with the only states to legalize untethered operators.
Officially an issue in the bill
Companies will pay $250,000 to apply for a five-year license with a $100,000 renewal fee. Adjusted revenue, which excludes federal excise fees and promos, will be taxed at 15%. Official league data is required for all in-play betting on US sports.
Another tax would give in-state arenas and stadiums 1% of all betting revenue from events at those venues. The venues can only use the funds for “sports wagering security and integrity.”
The bill only bans prop bets on college sports. Betting on esports would be legal.
Barstool Sportsbook, BetMGM likely participants?
Along with DraftKings and FanDuel, Barstool Sportsbook and BetMGM would likely launch sportsbooks should the bill pass.
Penn National and MGM Resorts operate two of the casinos in the state. Wynn Resorts operates the third.
Wynn has been silent on its sports betting plans. It currently has a sports betting agreement to operate online sportsbooks in Colorado and Indiana through BetBull‘s software and Full House Resorts‘ licenses.