Bills authorizing sports betting in Massachusetts has been under review all year.
Lawmakers want to expand gaming in the state but have been slow to do so.
If lawmakers do not act soon, they could lose out on much tax revenue.
BOSTON – During an interview with The Sports Hub, MGM Springfield President Mike Mathis said, lawmakers should pick up the pace on the sports betting bill because the customers, as well as the revenue, are going to go away. Bills giving permission to begin sports betting has been under review all year.
Meanwhile, lawmakers in Boston want to expand gambling that includes fantasy sports, sports betting, and any other forms of games and betting in 2020.
The bill from the Governor allows state casinos and online bettors to take bets on professional games and projects an estimate of up to $35 million in revenue.
The state of Massachusetts is expected to eventually legalize sports betting and will also be the new hub for online sports betting. Under Gov. Charlie Baker’s proposal, it will ban any bets on NCAA sporting events. However, the bill will also allow residents to bet from their mobile devices or at The MGM Springfield Casino.
This proposal would tax sports betting at a 12.5 percent rate. Live betting though will come with a taxation rate of only 10%.
While the House is not expediting their decision, sports betting is expected to pass in Massachusetts sooner than later. With a pro-sports betting governor who is constantly involving himself in the process, it is only a matter of time. However, it is safe to assume that sports betting will be legal in Massachusetts sometime in 2020.