Another state joins the sports betting craze, this time it’s Massachusetts. Lawmakers in the state passed a bill that will now allow online legal sports betting. The bill will now go to the desk of Republican Gov. Charlie Baker, who is expected to sign it. This is yet another state hopping in on the wave of online sports wagering, as it seems the whole country will be allowing it sooner rather than later.
When Will it Become Official?
Earlier this week, on Monday, August 1st the House and Senate groups for the state of Massachusetts voted on becoming the 31st state that offers some form of sports betting and will be the 22nd that offers online wagering. “I am proud to announce that the Sports Betting Conference Committee has reached an agreement on legislation that will legalize wagering on professional and collegiate sports in Massachusetts, bringing the immense economic benefits of a legal sports betting industry to MA,” Democratic House Speaker Ron Mariano said in a tweet. However, the state has banned betting on in-state colleges, like Boston College and the University of Massachusetts, except if the schools are playing in some sort of national tournament, like the NCAA March Madness Basketball tournament.
There still may be some time until residents can place their bets, however. The governor’s office did not respond to a request for comment on when legal wagering will go live, but if it follows the same timeline as other states, we could see wagering become legal in about 8 months as that is the average timeline to launch after a bill has been passed.
Around the Country
Since 2018 when the federal sports gambling ban was lifted, Americans have wagered more than $125 Billion on sports. New York, which just legalized wagering this past January has seen over $300 million in just tax revenue through July going to the state, which is by far the most across the nation in that period. So, it is easy to see why states like Massachusetts want to get in on this as it brings in a lot of tax revenue. Other neighboring states like Connecticut, New Hampshire, and Rhode Island all currently have some form of Legal sports wagering.
Wrap Up
Since 2018, Online sports wagering has been increasingly popular among Americans year after year, and it’s easy to see why the states are passing these bills so quickly. The tax revenue some of these states bring in is staggering, and it likely won’t be long before all 50 states have some sort of legal sports gambling in place. We will keep an eye on when betting will become legal, as well as how much money it raises for the state.