First and foremost is that internet gambling is technically still prohibited in Massachusetts, so when the fantasy sports law terminates next summer, operators will have no legal ground to stand on. That, of course, will be covered in the forthcoming legislation.<\/p>\n
Being labeled a gambling business might also force DFS platforms to acquire costly licenses, and fall under similar tax rates that the state imposes on casinos.<\/p>\n
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MGM Springfield and Wynn Boston Harbor, the state’s forthcoming mega-resorts, will deliver 25 percent of their gross gaming revenue to the Commonwealth. They additionally each paid $85 million for their licenses.<\/p>\n<\/div>\n
Plainridge Park Casino, a slots parlor, paid a $25 million licensing fee, but is taxed at 49 percent.<\/p>\n
DFS licenses will cost presumably much less, perhaps under $100,000, as is the case in other jurisdictions where the contests are regulated.<\/p>\n
Indiana, a comparable state to Massachusetts in terms of population, charges $50,000 per DFS permit and doesn’t impose a gross revenue tax.<\/p>\n","protected":false},"excerpt":{"rendered":"
Daily fantasy sports (DFS) should be classified as online gaming in Massachusetts, a state panel overseeing the implementation of the internet contests recommended Monday. Should the legislature take that advice, operators like DraftKings and FanDuel say they might be forced to abandon the state due to excessive tax rates and licensing fees. The Massachusetts Special […]<\/p>\n","protected":false},"author":42,"featured_media":55685,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[19,13,61,16],"tags":[],"acf":[],"yoast_head":"\n
Daily Fantasy Sports is Online Gaming, Massachusetts State Panel Rules<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n