Massachusetts Ready to Launch Mobile Sports Betting
This week, Massachusetts will become the latest state to join the mobile sports betting trend.
The Massachusetts Gaming Commission announced that it would finalise regulations for mobile sports betting. The Commission has been working with stakeholders since the passage of the Expanded Gaming Act in late 2019 to develop regulatory guidelines for mobile sports betting. Once the state has finalised its regulations, it can launch its program on Friday, March 10th.
Seven Approved Apps Will Allow People to Place Bets on Cell Phones
The regulations will allow seven approved apps to offer mobile sports betting services in Massachusetts. These apps provide a wide range of bets, including futures bets on championships and award shows. To place a bet through one of these apps, users must first register and create an account with an approved provider.
15 Online Sports Betting Licensees Allowed Under Law
Under current law, 15 online sports betting licensees are allowed in Massachusetts. These licensees, amongst others, include DraftKings, FanDuel, MGM Resorts International and Penn National Gaming. The state also collects a 20% tax on all mobile bets placed through these operators.
In-Person Sports Betting Has Been in Place Since January 2021
In addition to launching its mobile sports betting program this week, Massachusetts has had an in-person sports betting system since January 2021 at three casinos – Encore Boston Harbor, Plainridge Park Casino, and MGM Springfield Casino and Hotel. Having bricks and mortar establishments has allowed people within the state to place their bets at any of these three locations without using a mobile device or app.
Tax Revenue Benefits
The January 2023 GGR will include sports betting for the first time. Each casino will provide both in-person and online sports betting. Under the Expanded Gaming Act, MA will impose a 15% tax on bricks and mortar wagering and 20% on mobile sports bets.
The increased taxes will support public projects, with 45% going to a general fund, over 27% going to the Gaming Aid Local Fund, and 17.5 % will benefit the Workforce Investment Trust Fund.
