MONEYBaker signs sports betting bill into law

Baker signs sports betting bill into law

BOSTON – Gov. Charlie Baker signed the sports betting legalization bill into regulation Wednesday, his workplace introduced. 

The governor mentioned he seems ahead to the regulation being carried out “over the following a number of months.”

“Our administration first filed laws to legalize sports activities wagering within the Commonwealth a number of years in the past, and I’m glad to have the ability to signal this invoice into regulation right this moment,” Baker mentioned in a press release. “We admire the dedication and compromise that the Legislature demonstrated on this concern, and we stay up for supporting the work of the Massachusetts Gaming Fee on the accountable implementation of the regulation over the following a number of months.”

Lawmakers reached an settlement earlier this month to legalize betting on skilled and school sports activities. Sports activities betting is already authorized in additional than 30 states, together with Rhode Island, New Hampshire, Connecticut and New York.

Anybody not less than 21 years previous will be capable to place a wager in Massachusetts with a 15% tax on in-person wagers and a 20% tax on cellular bets. Betting on Massachusetts faculties and universities is not going to be allowed until they’re taking part in in a post-season event like March Insanity.   

“It is also going to create an entire new business and an entire new sector for our economic system and an entire new manner for individuals to have interaction with their favourite groups,” state Senator Eric Lesser advised WBZ-TV when the invoice handed. “I believe given the scope of what we have included right here, together with school that is out of Massachusetts I believe we’re most likely going to see 60-to-65 million {dollars} a 12 months”  

So when will individuals individuals be capable to begin betting on video games? Whereas legislators initially mentioned it might be up-and-running in time for the beginning of soccer season in fall, the Gaming Fee just lately said not so fast. 

Commissioners mentioned implementing the regulation might be a months-long course of, the State Home Information Service reported.

“I need the general public to grasp, as we as commissioners are beginning to perceive, that this is not one thing that is going to occur in a single day,” Commissioner Brad Hill mentioned. “That is going to take a bit of longer than individuals most likely anticipate, and I am OK with that as a result of I need to do it proper.”  

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