Back in August 1, a joint House and Senate conference bill was passed. This bill allows for the legalization of sports betting in Massachusetts. Much of regulations for sports betting is already in place in the state. This means it will only need fewer possible changes and additions for the state’s gaming commission to implement. And Massachusetts online sports betting could launch in November, at the earliest.
Massachusetts is no stranger to gambling, having legalized gambling back in the 1700s. Thus, the Bay State’s infrastructure is already there, and the adjustment will only be to accommodate online sports betting. Much like any bookie pay per head sportsbook, bettors can place wagers on any sport event. But they do have an exception for college betting. Under the law, college wagering for in-state schools is only allowed if they are participating in tournaments with 4 or more teams, such as NCAA Tournaments.
Massachusetts Targets Online Sports Betting Launch for November
When you manage your sportsbook through a bookie software, you need to take out operating expenses before you get to the net profit. For Massachusetts sportsbooks, they will also have to take out a tax of 20% for online, and 15% for retail. Otherwise, operators are very optimistic that they will gain millions in revenue, especially for online sports betting.
Currently, the commission believes that it may take no sooner than 90 days to implement the rules and regulations, which puts us at mod-November. The complete process of application and approval could also take from 3-6 months. Meanwhile, those who want to become a bookie and offer wagering on soccer, football, and other sports and gambling products, can apply for licensing by providing a Notice of Intent before August 31.
