The committee of the state of Massachusetts House and Senate have come to an agreement for a sports betting bill with just hours left in the legislative session for the state.
The two separate legislative bodies each passed their own sports betting bill, however, agreeing on a final conclusion was more of a problem. The details of the final bill are still to be released, but we know that back in July 2021 the House passed a bill with a 12.5% tax, low restrictions for products and marketing as well as a $5m license fee. On the other hand, the Senate’s bill was more restrictive, including a ban on several types of marketing and a ban on college sports. As well as this, retail sports betting operators would be taxed at 20% of revenue while online sports betting operators would face a tax of 35%.
The differences between these bills led to the introduction of the Sports Betting Conference Committee which was comprised of members of both bodies trying to create a compromise bill. The Massachusetts House and Senate were given an extra night to come up with a solution, taking them to the morning on the 1st of August.
Ron Mariano, the House Speaker, announced that an agreement had been made but has not yet announced the details of this. He released a statement: “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.”