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Online sports betting in Massachusetts will launch on March 10 at 10 a.m. Now we officially know which sportsbooks will be available to customers on day one.
In a public meeting of the Massachusetts Gaming Commission, six sports betting operators were granted operations certificates to run their apps in the state. All six apps received unanimous 5-0 votes.
The six apps that will launch Friday:
- DraftKings Sportsbook
- BetMGM
- Caesars Sportsbook
- WynnBET
- FanDuel
- Barstool Sportsbook
With the MA mobile sports betting licenses and associated certificates granted, the sportsbooks can begin accepting wagers Friday morning, making Massachusetts the most recent state to enter the industry.
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How much did all this cost for sportsbooks?
Each Category 3 licensee was required to pay a non-refundable $200,00o application fee and a $5 million license fee to do business in the Commonwealth. That makes Massachusetts one of the most expensive states for sportsbooks to operate.
Massachusetts law allows sports betting via mobile sports apps or online for consumers 21 years of age or older. Betting on many professional sporting events is permitted, including the NBA, NHL, MLB and NFL, as well as golf, tennis, MMA, UFC and others. Wagering on college sports is allowed, but no bets may be placed on events involving schools located in Massachusetts. An exception is made for collegiate tournaments, such as March Madness.
Mobile sports betting operators will be taxed 20% on revenue. That’s not the highest figure in the US, but it’s among the highest. Nearly half of that tax revenue will be allotted to the state’s General Fund. The remainder will be targeted to four other state programs.
Offshore betting will be significantly reduced
Online sports betting in Massachusetts arrives at a time when, according to a recent survey conducted by PlayMA, 51% of Massachusetts sports fans are already wagering on sports. Those active bettors have been betting at retail sportsbooks, out of state, offshore,or via other methods. Come Friday morning, much of that activity can be regulated by the state, protecting the consumer, as well as providing tax revenue for Massachusetts.
If you or a loved one is experiencing problems with gambling, call 1-800-327-5050 or visit www.mahelpline.org/problemgambling to speak with a trained specialist for free, 24/7
