Evaluation: There are 14 sports activities bets in Massachusetts, however which of them can try this?
Legal sports betting in Massachusetts clearly has support with 14 bills has passed this session. Now the legislature has to find out which is the best.
Of these 14 invoices there is a total 11 different suggestions. Two bills already have counterparts in opposite chambers, while two other House proposals are similar aside from where taxpayers’ money goes.
There are two reasons for MA sports betting this year. Many countries are looking for additional sources of income to fill the budget gaps caused by the EU Coronavirus Pandemic and Massachusetts is no different.
The Bay State could also be completely surrounded by states with legal sports betting by the end of the year. New Hampshire and Rhode Island already offer full mobile sports betting. There are legislative efforts in Connecticut, new York and Vermont for the same.
What Sports Betting Bills In Massachusetts Have A Chance?
To be clear, none of these calculations are entirely bad. But with a wide choice, it will be much easier for lawmakers to reject a proposal based on an unloved component or two.
Governor Charlie Baker‘s HD 678 meets tax rates of 10% for retail and 12.5% for online betting, but its total college sports betting ban is a potential problem when it comes to limiting tax revenue. A full college betting ban could also decrease SD 2259 from Senator Bruce Tarr.
Senator Eric Lesser pointed out his similar ban on college betting SD 2365 positive for the local media as it is similar to and in line with Baker’s proposal NCAA First League Schools want to see. But Lesser also explained how to legalize sports betting to bring it to light and keep it away from unregulated operators, which is out of sync with the ban on all college betting.
The states three casinos would get three skins each, and another six Cell phone-only licenses would be available, as would mobile betting licenses for select racetracks. Lesser also focused on application, license and renewal fees in the millions.
Bills that don’t give that much to state casino operators are likely to get heavily rejected. This contains HD 3875 from MP Thomas Walshthat only the casinos seem to give one Sports betting license each but allows up to 10 Cellphone-only licenses.
No further hold request
Rep. Orlando Ramos and Glad. Adam Gomez filed HD 3606 and SD 2237However, there is likely to be little industry support for this proposal.
The proposal borrows from the slandered Tennessee Sports Betting Act. In particular, Gomez and Ramos want to force sports betting to hold 10% yearly:
“Gross Gaming Revenue” is the sum of all monies paid to a licensee as bets minus the total amount paid out to winning bettors. This amount must not exceed 90% over any period and not exceed a year, including the cash equivalent of goods or valuables awarded as a prize.
Some bills just aren’t enough?
Some of the bills introduced have no obvious problems like the laws above, but they are also not enough to keep the needle moving.
This contains HD 3786 from Rep. David Biele and SD 192 from Senator Michael BradyEither way, fewer than 10 operators in the state would pay very little upfront. The bills only ask $ 250,000 for a registration fee dwarfed by some of the other proposals. Given that many lawmakers are looking to get money into the state quickly, upfront fees should be a sticking point this year.
SD 718 from Senator Michael Rush seems to open the market a little more, but also fluctuates with a $ 100,000 License fees. Rush’s proposal also includes the Double Whammy from official league dates and a Integrity fee paid to leagues.
Others take too much time
With Massachusetts looking to raise money and stay competitive with the border states, it is unlikely to be very hungry for a proposal that will slow the process down.
That’s what exactly HD 118 and HD 119 from Rep. Bradford Hill You would. Both bills call for a commission to be set up to deal with sports betting. The commission would have to meet within 30 days of the passage and have recommended legislation ready within 120 days.
Two Suggestions for Sports Betting in Massachusetts with Hope?
One is SD 177 from Senator Brendan Crightonwho has a companion in HD 2079 from MP Daniel Cahill. The proposal focuses on getting the state quick buck with one $ 10 million License fee paid by casino operators, racetracks and sports betting for phones only. The bill bans wagering on state colleges, which could be a necessary sweetener to pass laws.
“We’ve changed our bill over the past few years, but we’re pretty confident about the product we have now,” Crighton told LSR earlier this year.
SD 2412 from Senator Paul Freeney has many similar components to the proposal above, which makes sense given that he is a co-sponsor of Crighton’s bill. Freeney’s bill doesn’t ask so much from a pure cellular market, but also some high fees: $ 5 million Application and a $ 1 million Renew everyone 3 years.