The Massachusetts House and Senate have finally reached an agreement on the specifics of the legalization of sports betting on professional and collegiate sports. 

The details of the new measure are not yet public, but sports betting in Massachusetts may be legalized within weeks.

The Agreement Reached at the Final Possibility

The most notable disagreement about the measure was whether or not college sports betting should be permitted. Now that the last obstacle has been cleared, the state’s two legislative chambers will submit the freshly prepared legislation to Governor Charlie Baker, an ardent proponent of the legalization of sports betting. 

There was a serious possibility that the measure would fail to pass. At the conclusion of the formal legislative session on July 31, the Senate and the House had not yet established a consensus. The session was subsequently prolonged until 1 August, and the parties eventually reached a settlement. 

Just after 5 a.m., House Speaker Ron Mariano tweeted that the committee had reached an agreement on the new bill’s specifics. The introduction of legalized sports betting, according to Mariano, would bring huge economic advantages to the state.

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Massachusets Sports Betting Ready for Launch

With its new law, Massachusetts joins more than 30 other states that have allowed and regulated sports betting. According to Mariano, the state’s casinos were already prepared and anxiously awaited the new legislation’ formalization. He hoped that the legislation will be completed before the start of the football season.

DraftKings’ chief executive officer, Jason Robins, released a statement expressing the company’s excitement at the development. Robins commended the conference committee for their hard work and leadership and hoped that Governor Baker will sign the measure into law as soon as possible.

Michael Rodrigues, chairman of the Senate Ways and Means Committee, described several new requirements. The tax rate for online sports betting will be 20%, while the rate for land-based facilities would be 15%. Players will not be permitted to wager on Massachusetts college teams that are not currently competing in a tournament. Credit card deposits are also prohibited for the safety of the player. Casinos and racetracks will be able to seek for licenses to provide sports betting, and operators will be allowed to market their services.

According to Rodrigues, the revised law is the outcome of multiple House and Senate negotiations. There was significant pressure on the two chambers to strike an agreement. Three casino executives from Massachusetts and Associated Industries of Massachusetts sent letters asking the House and Senate to achieve an agreement. Although it occurred at the last possible moment, the crisis has been resolved, and players in the Bay State can now look forward to cheering for their favorite teams.