Casino City’s Friday 5: Massachusetts’s Sports Betting Bill’s Busy Day

“Over the last seven years, the Massachusetts gaming industry has grown into an economic driver for thousands of jobs related to construction, services, and tourism,” said Lt. Gov. Politico. “The Massachusetts Gaming Commission has developed a comprehensive regulation, and passing this bill into law allows it to adequately oversee the next chapter of the industry, in addition to providing critical support to cities and towns in the Commonwealth.”

Under the administration’s proposal, MGC will be able to issue newly created sportswear licenses to current Category 1 resort casino licensees (MGM Springfield and Angkor Boston Harbor in Everett) and Category 2 licensees (Plainridge Park Casino). Current game licensees will have to operate an on-site sportswear lounge. In the future, those opportunities will extend to Category 1 licensees if they become licensees in Region C.

Additionally, newly created game permits holders will be able to offer sports gambling online, or sign an agreement with an organization to provide the service. Online sports swimming pool operators must obtain permission as game vendors, and the agreement must be approved by the MGC.

Apart from existing Category 1 and Category 2 licensees, the administration’s proposal allows non-affiliated entities to engage in sports bearings only online. Operators operating online only must be fully qualified and licensed by MGC as sports bearing licensees under the current process stipulated in the Extended Gaming Act. 파워볼게임

Under the proposal, the application fee for the initial license would be set at $100,000, which would then be used to support the MGC’s management of the application process. Upon approval, the applicant would pay a license fee of more than $500,000, which must be renewed every five years. The sportswear license would directly pay a 10% tax rate, while the online wear license would pay a 12.5% tax rate. Revenue generated from renewals and online wearings would go entirely to the Game Local Aid Fund, reflecting the current system of direct payment of revenue from Category 2 licenses. It would also apply a 12.5% tax rate to everyday fantasy sports events, which are currently tax-free to level the playing field. The administration expects the proposal to benefit 351 cities and all towns in the Commonwealth by generating $35 million in revenue in the upcoming fiscal year 2020.

The bill calls on the MGC to promulgate regulations necessary to implement sports gambling, including protections for gamblers, cashless systems for sports gambling, and verification systems for approving the age and identity of potential online users.