Current Legal Status and History
Sports betting in Massachusetts is legal and fully operational, both online and at retail locations. The journey to legalization culminated on August 10, 2022, when former Governor Charlie Baker signed House Bill No. 5164 into law. This landmark decision paved the way for a regulated and thriving sports betting market in the Bay State. Retail sports betting officially launched on January 31, 2023, at the state's three casinos, followed by the launch of mobile sports betting on March 10, 2023.
Available Sportsbooks and Their Features
Massachusetts is home to a competitive sports betting market with seven online sportsbooks vying for bettors' attention. Each platform offers a unique set of features, promotions, and user experiences. Here's a look at the top sportsbooks available in the state:
- DraftKings: A Boston-based company, DraftKings is a fan favorite in Massachusetts. It offers a user-friendly interface, a wide range of betting markets, and innovative features like "Flash Bet" for live betting.
- FanDuel: Another industry giant, FanDuel provides a sleek and intuitive platform with a strong focus on same-game parlays and player props. Its "No Sweat First Bet" promotion is a popular choice for new users.
- BetMGM: Known for its extensive betting options and "Edit My Bet" feature, BetMGM offers a premium sports betting experience. It also has a strong retail presence at MGM Springfield.
- Caesars Sportsbook: With its generous rewards program, Caesars Sportsbook is a top choice for bettors who value loyalty perks. It also offers a wide variety of odds boosts and promotions.
- ESPN Bet: A newer entrant to the market, ESPN Bet has quickly gained traction with its strong brand recognition and integration with ESPN's media ecosystem.
- Bally Bet: Bally Bet offers a solid, no-frills sports betting experience with a focus on the core betting markets.
- Fanatics Sportsbook: The latest addition to the Massachusetts market, Fanatics Sportsbook is leveraging its massive customer base in the sports apparel world to make a splash in the betting industry.
Types of Bets Available
Massachusetts bettors have a wide array of betting options to choose from, catering to both novice and experienced gamblers. Here are some of the most common types of bets available:
- Moneyline: A straightforward bet on which team will win a game.
- Point Spread: A bet on the margin of victory in a game.
- Totals (Over/Under): A bet on the total number of points scored in a game.
- Parlays: A combination of multiple bets into a single wager, offering higher potential payouts but also higher risk.
- Teasers: A type of parlay where you can adjust the point spread or total in your favor in exchange for a lower payout.
- Prop Bets: Bets on specific events within a game, such as a player to score a touchdown or the number of strikeouts a pitcher will have.
- Futures: Long-term bets on events that will happen in the future, such as a team to win a championship.
- In-Game/Live Betting: Bets placed while a game is in progress, with odds that update in real-time.
Tax Implications for Winnings
In Massachusetts, sports betting winnings are considered taxable income. The state imposes a 5% flat tax rate on all gambling winnings, which is in addition to any federal taxes you may owe. For winnings over $5,000, sportsbooks are required to withhold 24% for federal taxes and issue you a Form W-2G. It's important to keep accurate records of your wins and losses for tax purposes.
Mobile vs. Retail Betting Options
Massachusetts offers both mobile and retail sports betting, giving bettors the flexibility to choose their preferred method. Mobile betting is available through the seven licensed online sportsbooks, allowing you to place bets from anywhere within the state. Retail betting is available at the state's three casinos:
- Encore Boston Harbor (Boston): Features a luxurious sportsbook lounge with a massive video wall and numerous betting kiosks.
- MGM Springfield (Springfield): Offers a comfortable and modern sportsbook with a full-service bar and plenty of TVs.
- Plainridge Park Casino (Plainville): Provides a more casual sports betting experience with a dedicated sportsbook area and numerous betting kiosks.
Tips for Bettors in This State
- Shop for the best odds: With seven different sportsbooks to choose from, it pays to compare odds before placing your bets.
- Take advantage of promotions: Sportsbooks are constantly offering promotions and bonuses to attract new customers. Be sure to take advantage of these offers to maximize your winnings.
- Bet with your head, not your heart: It can be tempting to bet on your favorite teams, but it's important to make rational decisions based on research and analysis.
- Manage your bankroll: Set a budget for your sports betting activities and stick to it. Never bet more than you can afford to lose.
Responsible Gaming Resources
Massachusetts is committed to promoting responsible gaming and providing resources for those who may be struggling with a gambling problem. The Massachusetts Council on Gaming and Health offers a 24/7 helpline at 1-800-327-5050 and a website with information and resources at gamblinghelplinema.org. The Massachusetts Gaming Commission also has a voluntary self-exclusion program that allows individuals to ban themselves from all gambling activities in the state.