Last year, the Massachusetts House passed its sports betting bill. Its next step was to be forwarded to the Senate, who has since not acted on the bill. Many in the sports betting industry are wary of the delay. However, its not because the Senate does not want sports betting. The discussion has centered on the terms of the bill, such as restrictions, tax rate, and the like. Let’s talk about the contentions on the Massachusetts debate on sports betting.
Before we begin, let’s view Massachusetts in a map with its neighboring states in the context of having sports betting markets. Out of the five states that Massachusetts shares a border with, four offer sports betting. New York, Connecticut, and Rhode Island all offer online and retail betting, while New Hampshire offers only online wagering. Meanwhile, Vermont does not allow sports betting in the state. Many Bookie PPH Experts are seeing this as a missed opportunity, as seen in the sports betting numbers in New York state alone.
Massachusetts Debate on Sports Betting
Last week, Senators made significant amendments to House Bill 3933 (HB3933) before returning it to the lower chamber. The Senate is looking for a higher tax rate of 20% (retail) and 35% (online) instead of the 12.5% (retail) and 15% (online) rate the House signed. In addition, the Senate version also wants to prohibit betting on collegiate sports, and banning ads on sports betting during sports events broadcasts. Many sportsbook pay per head bookies are raking in a lot of money from college sports betting, so the Senate may want to reconsider this.
Because of the key differences in the terms under the bill, they called for a conference committee to settle these differences. The Senate has determined its representatives, and the House has yet to announce theirs. Many in the industry are hoping for a lower tax rate as well. As many know, running a low-margin business in sports betting will not be profitable in the long run, so its best to reduce much of the cost of running an online sportsbook. This is exactly why pph sportsbook solution software exists. And this is something that legislators should consider, especially if they want their sports betting market to really maximize its earning potential.