Last Minute Massachusetts Sports Betting Deal?

Last Minute Massachusetts Sports Betting Deal?

The deadline is July 31st. However, legislators are still hopeful that a Massachusetts sports betting deal could come together this year. And if it does, that residents of the state could be placing wagers on next year’s Super Bowl.

A Representative says that negotiations are ongoing, and that there is still some level of optimism that an agreement could be finalized and sent to the desk of Governor Charlie Baker before the current session ends.

Some of the issues that need to be resolved include tax rates and how many licenses to issue. But the one topic that could derail any hope of a deal would be betting on college sports. Currently, the Massachusetts House bill would permit those bets, but the Senate’s version removed them.

There are also some differences between the two pieces of Massachusetts sports betting legislation. Those differences revolve around advertising and marketing efforts, as well as the use of credit cards when making bets.

State Representative Jerry Parisella acknowledges that the inability of the state to regulate the activity is costing it millions in tax revenue. He stated “We’re losing out to our neighbors. New Hampshire has it, Rhode Island has it, New York has it…” Parisella believes that the legislative body “will get it done” before the end of the session later this month.

Currently, it’s estimated that Massachusetts sports betting could bring in over $35 million in taxes for the state annually.

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