The Massachusetts Bay Colony Gaming Commission (MGC) said this calendar week that 29 entities responded to its “Scoping Survey,” a prerequisite for a qualified sports wagering application.
The Scoping Survey is a legal brief two-page document seeking input from possible sportsbook applicants inward Massachusetts. The survey required sportsbook firms mulling a adjure for licensure inward MA to item their in operation(p) history, tonality investors and executives, and what sort of sports betting permit the society would likely seek in the state.
Massachusetts’ sports betting law created ternary categories of manipulator licenses: Category 1 licenses are reserved for land-based casinos, Category 2 licenses are for the state’s horse track facilities, and Category 3 permits are for full online sportsbooks. The Category 1 and 2 licenses to boot earmark the brick-and-mortar venues to partner with online sportsbooks to make bets remotely over the internet.
Category 1 sports betting licensees can buoy partner with as many as II online sportsbook skins. Category 2 licensees can get with only if a single online sports betting operator.
Interest Strong
The MGC said the initial survey is the number one stone's throw toward licensing. The land gaming regulator has since opened its application program full point that runs through 2 p.m. EST on Monday, Nov. 21, 2022.
The practical application stop requires a non-refundable $200K fee made payable to the MGC. The defrayal is to cover costs associated with the processing and investigation of the sports betting applicant.
Upon issuance of a license, the sportsbook testament demand to pay off the nation a $5 million fee, negative the $200K covering fee, for a five-year privilege. Renewals are circle for another $5 million every quint years.
Sports betting revenue generated from in the flesh(p) wagering testament live theme to a 15% tax. Online sportsbook income testament follow taxed at 20%.
Encore capital of Massachusetts Harbor, MGM Springfield, and Plainridge Park for each one submitted scoping surveys for Category 1 sportsbook licenses. Suffolk Downs, Raynham Park, and Great Meadowbrook Farm did so too, but for Category 2 licenses.
Some 23 entities submitted scoping surveys with Category 3 intent. The major players all participated, including DraftKings, FanDuel, Caesars Sportsbook, and BetMGM. So did littler sportsbook operators, such as MaximBet, BetRivers, Betway, and Fanatics.
Massachusetts’ sports betting law permits upwardly to 15 online sports betting licenses.
The state’s tercet casinos say they’re ready to begin sports betting directly upon receipt of their licenses. But the firstly effectual play isn’t expected to live placed until too soon 2023. MGGC Executive Director Karenic Herbert George Wells has localize a February point date stamp for sports betting’s commencement.
College Betting Loophole
Despite pushback from the sports betting industry, MA is moving frontwards with its sports gaming set in motion mostly without college sports involving state-based schools. Massachusetts’ sports betting natural law prohibits oddsmakers from taking bets on games involving in-state colleges. But on that point are exceptions.
Legal sportsbooks will be able-bodied to submit bets on capital of Massachusetts College, for example, so long as the Eagles are participating in a tournament involving a lower limit of IV teams. So a Bean Town College hoops mettlesome in the NCAA Mar Madness men’s basketball tournament would measure up for sportsbook inclusion, but a regular-season biz would not.
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