At a hearing on legalizing online casinos, Massachusetts lawmakers covered topics such as possible tax income, the advantages of regulation, worries about gambling addiction, and the effects on land-based casinos. FanDuel and DraftKings backed the proposal.
Earlier this week, the first hearing on legislation pertaining to internet casinos was held by a joint committee of Massachusetts lawmakers.
On Monday, the Massachusetts Joint Committee on Consumer Protection and Professional Licensure convened to deliberate on legislation pertaining to internet casinos. Under the measures, operators would be authorized to provide table games on mobile applications, including slots, roulette, craps, and others.
Both sides made arguments that were comparable to those made in other states that have thought about legalizing online casinos. The main worries raised by opponents were the possible rise in problem gambling and the cannibalization of in-person gaming.
According to Brianne Doura-Schawohl, a specialist in compulsive gambling, “you should consider this policy with eyes wide open.” “It could cause more harm than good.”
ALSO READ: North America’s Online Gambling Market Expects Strong Growth Through 2030
Proponents said that people of Bay State already had access to internet casinos, albeit unregulated.
“Massachusetts already has online casino gaming, but it’s not in a legal, regulated, or taxed setting,” stated David Prestwood, Government Affairs Manager at DraftKings.
According to James Hartman, a spokesperson for FanDuel, the unregulated operators are stealing up to $7 billion annually.
Massachusetts may get up to $275 million in tax money, according to Prestwood, who also pointed out that the seven states that allow iGaming are eradicating the illegal operations while generating new tax revenue.
Courtesy: https://www.covers.com, https://www.casino.org, https://pechanga.net
Golf betting has exploded in popularity across the United States as more states legalize sports…
A vote to authorize internet sports betting is currently being pushed by the tribal group…
The NFL Draft isn’t just a marquee event for teams and fans, it has become…
Sports betting has exploded in popularity across the United States since the Supreme Court struck…
In sports betting, not all wagers are created equal. Every day, thousands of bets flood…
For most NFL fans, Monday Night Football is the final act of the week. For…