- Committee Hearing To Occur On Thursday
- Several Legal Sports Betting Bills Will Be Considered At Hearing
- Governor Baker Has Already Earmarked Sports Betting Revenues For Projects
On Thursday, June 17th, the Committee on Economic Development and Emerging Technologies will once again consider the issues of legal sports betting in Massachusetts and determine whether it should be passed along for further committee consideration.
It seems that with each legislative session that occurs around the country, sports betting is either being considered for legalization, or more doors are being opened in regard to what types of sportsbook venues are allowed for, be they online, mobile, or in-person.
In many cases where domestic sportsbooks are being considered for the first time, it is due to the revenues that are escaping to neighboring states that have regulated sports betting.
That’s exactly what is occurring in MA, as there is legal sports betting in Rhode Island to the south, and sportsbooks in New Hampshire to the north.
MA Governor Charlie Baker is eager to sign sports betting into law and has earmarked over $30 million in anticipated revenues to provide the budget for projects, so if and when a bill crosses his desk he is expected to sign it without hesitation.
There is cause for concern, however, as an initiative for sports betting was passed in the House in 2019, but did not receive much consideration in the MA Senate.
Two years later, the stage has been set as regional sports betting markets are raking in the revenues and stuffing their tax coffers. Sports betting in Boston would be a sure-fire hit as the area is one of the largest professional sports destinations on the planet with four major franchises.
The New England Patriots (NFL), Boston Celtics (NBA), Boston Bruins (NHL), and Boston Red Sox (MLB) all reside in the state, and if Massachusetts lawmakers follow suit with other regions, there is the potential for sports betting lounges to become a part of their home stadiums and arenas.
The real game-changer when it comes to sports betting revenue is whether or not a state allows for online or mobile sportsbook options. Naturally, bettors will opt to wager at their convenience from a laptop or smartphone if that option is granted to them, whereas states that require sports gamblers to travel to an in-person sportsbook or casino have a buffer in place to discourage action.
The intentions of Massachusetts lawmakers should become much clearer by the end of this week following Committee debate.
