Massachusetts drafting new gambling law

Published by Daniel on August 29, 2019 IN Industry News

Massachusetts Gambling LawThe online gambling industry has been taking over the world over the past few years with all it has to offer.  

In recent years many states and regions have started focusing on their gambling laws and restrictions in an effort to offer better player protection.  

Massachusetts is among the most recent US states that started began the process of drafting new gambling laws.

A long time coming 

With its interesting gambling history it was expected that Massachusetts would have been one of the first to implement new gambling regulations within the United States. Strangely enough this US State has been dragging its feet and only recently started making progress.  

The Supreme Court ruling was clear that each individual state was responsible for the regulation of online sports betting within their state. Many expected Massachusetts to be among the first to introduce new regulations seeing as this state has a rather colourful gambling history dating all the way back to the 1930’s.  

Massachusetts has many Tribal casinos and other gambling establishments that includes brick and mortar casinos and even dog racing establishments. That being said, it seems that Massachusetts is still war about legalizing online gambling and sports betting. Many believe they are dragging their feet largely because of the losses of funds they might experience on such platforms. As well as out of duty to protect residents from possible threats from such platforms.  

Changes being made 

In the past few months a large number of proposals have been put forward but these gained very little traction. Which is quite ironic since the Governor of the state has been at the forefront to encourage progressive reforms. He is intent on ensuring that Massachusetts will be able to compete with other states in the regulated sports and online gambling industry.  

The Governor is determined to make sports betting a regular offering in full-fledged casinos in the near future. This would mean that there would be sports betting lounges in casinos and sports parlours. Online and sports betting will also be offers by sports betting license holders and sports betting will become available to companies that do not operate a brick and mortar license.  

Costs and restrictions 

It is suggested that taxes on online betting would be 12.5% which is 2.5% higher that retail betting. Companies or operators looking to acquire a sports betting license would have to pay $100,000 sports betting license application fee. A further $500,000 fee will be expected every 5 years after approval and sports betting will be restricted to professional sporting events only.  

Many believe these restrictions and high fees will only undermine the progressive developments the state are hoping to achieve.  

The good news is that this is all still an attempt to take a step in the right direction, no actions have been taken yet. Proposals have been made but there is still possibility for changes being made to the prospective legislation.  

The good news is that Massachusetts has finally hopped on board the legalization wagon. Thus, residents can soon look forward to placing bet online at online casinos and sports books.