The Massachusetts Gaming Authority has cautioned that the commencement of authorized sports wagering in the state might be postponed past anticipated timelines as they strive to finalize rules for the sector.
In the concluding phases of the legislative period, the Massachusetts legislature approved a measure authorizing sports betting, resolving months of stalemate after the House and Senate each adopted their own versions of the legislation, which varied considerably.
According to the legislation, any land-based casino or racetrack operator within the state can submit an application for a permit, along with seven online-only licenses. All licenses will necessitate a $5 million application fee.
Wagering on collegiate sports is permitted, but placing bets on in-state teams is forbidden. The tax rate for online betting is 20%, while retail betting is subject to a 15% tax.
Read the complete article on iGB North America.
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