Massachusetts to join over 20 states where sports betting is legal
(BOSTON – Monday, August 1, 2022) – The Massachusetts Legislature today passed An Act regulating sports wagering authorizing and regulating sports betting in the Commonwealth. The legislation authorizes the Massachusetts Gaming Commission to grant in-person licenses at gaming establishments, including casinos, racetracks and simulcast facilities, as well as mobile licenses through mobile applications or digital platforms. This legislation will generate an estimated $60 million in annual tax revenue for Massachusetts, in addition to collecting up to $70 to $80 million in initial licensing fees, which must be renewed every five years. The revenue collected will be distributed to municipalities, and for economic, workforce, education, and public health priorities.
“What you have been asking for is now a reality. Thanks to the yeoman’s work of the Senate President, Speaker and the rest of my Legislature Collogues we now have a law which legalizes wagers on both professional and collegiate sports. This law will create jobs and bring tens of millions of dollars in annual tax revenue to Massachusetts,” exclaimed Senator Michael D. Brady (D-Brockton)
“An Act regulating sports wagering” includes a 15 percent tax on in-person wagering and a 20 percent tax on mobile wagering. The legislation creates the Workforce Investment Trust Fund & the Youth Development and Achievement Fund which will receive 17.5 percent and 1 percent, respectively, of the revenue generated by the taxes and licensing fees. The rest of the funds will go to the existing Gaming Local Aid Fund (27.5 percent), the Public Health Trust Fund (9 percent) and the General Fund (45 percent.)
- The funds in the Workforce Investment Trust Fund will be used to develop and strengthen workforce opportunities for low-income communities and vulnerable youth and young adults, including to promote stable employment and wage growth.
- The funds in the Youth Development and Achievement Fund will provide financial assistance to students enrolled in and pursuing a program of higher education, and for after school and out of school activities.
The legislation will also allow betting on college sports, with the exception of Massachusetts schools, unless they are participating in a tournament. People must be 21 years old or older to bet. As directed through this legislation, the Gaming Commission will be conducting a study into the feasibility of allowing retail locations to operate sports wagering kiosks.
Senator Michael D. Brady (D-Brockton) said, “I hope that the stigma will be removed to allow my constituents to pursue medical treatment addressing their behavioral health. We all deserve to have access to the mental health care we need when we need it. Thank you to the Members of both bodies who along with the Senate President and the Speaker who joined me in supporting this legislation.”