Massachusetts online sports betting begins, expected to bring in $60 million in taxes a year

  • by:
  • Source: CBS Boston
  • 07/20/2023
Massachusetts online sports betting begins, expected to bring in $60 million in taxes a year
Views from the upper Deck of a Los Angels Lakers Game in early December. by Tim Hart is licensed under Unsplash unsplash.com
Massachusetts sports fans raced to their cellphones Friday to begin placing bets as the state allowed online sports wagering just days ahead of tip-off of the NCAA Tournament next week.
 

The start of online sports gambling came a little over a month after the state began allowing in-person sports betting at the state's three casinos — Encore Boston Harbor in Boston, Plainridge Park Casino in Plainville, and MGM Springfield in Springfield.

Lawmakers estimate that sports betting could generate about $60 million in annual tax revenue and $70 million to $80 million in initial licensing fees, which must be renewed every five years. The law includes a 15% tax on in-person wagering and 20% tax on mobile wagering.

Views from the upper Deck of a Los Angels Lakers Game in early December. by Tim Hart is licensed under Unsplash unsplash.com

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