BET THE OVER ON SPORTS WAGERS
No rush to legalize in Bay State
Some states are moving swiftly to legalize sports betting — perhaps by the start of the NFL season in September.
Massachusetts isn’t one of them.
Home to the Red Sox, Patriots, Celtics and Bruins, the storied franchises are boosted by some of the nation’s most ardent sports fans.
Massachusetts’ first two resort-style casinos, both scheduled to open in the coming months, have a vested interest in decisions the state makes about legalized sports wagering.
DraftKings also calls Boston home, and the daily fantasy sports giant is hoping to expand its offering to include sports betting in states that allow it.
About the only certainty, however, is that no major decisions are expected on Beacon
Hill anytime GAMING soon.
Democratic House Speaker Robert A. DeLeo has all but ruled out passing any new laws around sports betting during the legislative session due to end July 31, citing the complexity involved.
“These aren’t very easy questions that you can just expect to resolve in a short period of time and say, ‘OK, let’s just do it this way and see how it works and then come back later,’ ” DeLeo said.
DeLeo said he’s likely to tap Rep. Joseph Wagner to take the lead on any sports betting proposal. The Chicopee Democrat was among the principal authors of the 2011 law that legalized casino gambling in Massachusetts.
“It’s more important to get it right than to do it quickly,” Wagner said in response to questions about whether Massachusetts risks falling behind other states.
Gov. Charlie Baker also has said much “homework” is needed before any conclusions are reached.
In February, prior to the Supreme Court ruling, an analysis of the potential market for legalized sports betting by the Massachusetts Gaming Commission projected annual state tax revenues would be between $8.6 million and $61.3 million.
The calculations were based on three potential tax rates, 6.75 percent, 10 percent or 15 percent, along with three models for the availability and ease of sports betting: “limited,” “moderate” or “convenient.” Those rates and terms were borrowed from a 2017 national study by the American Gaming Association.
The debate over legalized sports betting in Massachusetts coincides with the planned opening of the state’s first two resort casinos: MGM Springfield in August and Encore Boston Harbor, owned by Wynn Resorts, as early as June 2019.
Both operators have experience with sports wagering at their Nevada casinos and appear eager to make it available to their future customers in Massachusetts, should the state allow it.
“We look forward to working with legislators and policy makers to achieve a regulatory outcome that benefits states and consumers alike while ensuring the integrity of sports,” MGM said in a statement issued after the high court decision.