Massachusetts Sports Betting Efforts Delayed Yet Again

Massachusetts Sports Betting Efforts Delayed Yet Again

Massachusetts sports betting effort was delayed yet again after the state senate removed a proposal for the same from its economic development bill.

Hopes thwarted again

The hopes of Massachusetts becoming the newest state to legalize sports betting in the country were thwarted today. On Wednesday, the state senate did not approve betting inclusion in the new proposed economic development plan by the House. The decision has disappointed sports fans in the state which is the home to some of the largest sporting franchises in the country.

Massachusetts Sports Betting Efforts Delayed Yet Again

According to figures from odds.com, Massachusetts is eyeing a $35 million annual tax revenue from legalized sports wagering. The Massachusetts Gaming Commission is also expecting the highest possible revenue of $61 million and the lowest possible revenue at $9 million. The odds.com figure sits right in the middle of the unusually broad revenue estimate of the Commission.

The House voted 156-3 in favor of the economic and employment support plan. However, the senate was not pleased with the addition of sports betting. The Senate eventually passed the bill with unanimous support but it removed sections related to sports betting from the draft.

Is it the wrong time?

Several state senators support legalized sports betting in the Massachusetts market. However, they believe that this is not the right time to introduce this measure in the state. Allowing sports betting to piggyback on an emergency response bill doesn’t send the right message, said the senators.

House Bill 4887 sought to introduce sports betting to the state quickly and create a competitive, varied, and consumer-friendly market. The bill did not follow the requirement for online sportsbooks to tie up with physical casinos to get licensing. This would help catalyze the process and create a more diverse offering.

The bill also introduced a 1% Venue Fee which means that one percent of the gross revenue collected from a sporting event held in the state will go to the owners of the location.

sherlock

About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.

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