BOSTON — Seven sports betting apps are set to go live in Massachusetts when mobile sports betting launches next week.
The mobile sportsbooks planning to launch are: Caesars Sportsbook, BetMGM Sportsbook, WynnBET, Barstool Sportsbook (Penn Interactive), FanDuel, DraftKings, and betr. The Massachusetts Gaming Commission has granted final licensure to three other mobile operators, as well.
Massachusetts Gaming Commission executive director Karen Wells proposed a launch date of March 10th at 10 a.m. That date would allow for online wagering to be in place in time for residents to bet on March Madness, which begins March 14.
While the law allows betting on college sports, wagering on in-state colleges and universities won’t be allowed unless those schools are playing in a national tournament, including the NCAA basketball tournaments.
“College basketball. If you don’t know anything about college basketball - don’t bet it, but if you hear some good research. You hear some good intake on it alright you can shop around and put a little money on a certain market,” said NESN sports betting analyst, Claudia Bellofatto.
Ten sportsbooks have been licensed by the state. Bellofatto says to download as many as possible to take advantage of their offers.
“Say it’s a 100-dollar free bonus that’s 100 dollars you can put down on a team - any sort of bet. If it wins you win the money. If it loses, you don’t lose anything,” says Bellofatto.
Some of the major books are offering incentives which include:
DraftKings: If you bet $5, they will give you $200
BetMGM: If you bet $10, they will give you $200
Fanduel: Giving $100 with no minimum wager
Barstool: Risk-free betting up to $1,000. Anything more than that will come out of your own pocket
“It’s supposed to be fun. Your day is not supposed to be ruined from one bet,” said Bellofatto.
Lawmakers estimate sports betting could generate about $60 million in annual tax revenue and $70 million to $80 million in initial licensing fees, which must be renewed every five years. The law includes a 15% tax on in-person wagering and 20 percent tax on mobile wagering.
You have to be 21 years or older to bet in Massachusetts.
This is a developing story. Check back for updates as more information becomes available.
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