Massachusetts is in line to become the next state to legalize sports betting.
The state’s Sports Betting Conference Committee reached an agreement on a bill to send to Governor Charlie Baker, it was announced Monday. Massachusetts Speaker of the House of Representatives Ron Mariano touted the economic benefits of legal betting in an early-morning tweet.
According to state representative Aaron Michlewitz, the bill will allow for betting online and in person, and it’s expected to generate $60 million in annual revenue with funds directed towards workforce development, local aid and public health initiatives.
Once signed into law, Massachusetts will become the 35th state with legal sports betting. Kansas, Maine, Nebraska and Ohio are all scheduled to begin taking bets soon.
I want to thank @RepMichlewitz and @JerryParisella, all the conferees and my colleagues in the House, as well as our partners in the Senate for recognizing the incredible economic opportunity that legalized sports betting presents. (2/2)
— Speaker Ron Mariano (@RonMariano) August 1, 2022
✅ $60M annually estimated revenue
✅ 15 total licenses issued for both in-person and online operators
✅ Funds directed towards items such as workforce development, local aid & public health initiatives
✅ 15% in-person tax rate, 15% fantasy tax rate, 20% online tax rate (2/3)— Aaron Michlewitz (@RepMichlewitz) August 1, 2022
Jason Robins, the CEO of DraftKings, which is headquartered in Massachusetts, voiced his support of the bill on Twitter.
Exciting news for the Commonwealth and a big win for sports fans. This is a huge opportunity for @DraftKings and the 1,300+ employees we have living in MA – can't wait to finally launch DK Sportsbook in our backyard. https://t.co/A2iinCR0rj
— Jason Robins (@JasonDRobins) August 1, 2022
Baker is likely to sign the bill, as he’s pushed for legalized betting in the past.
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