Massachusetts lawmakers reach deal to legalize sports betting

Massachusetts will become the 31st state to allow sports betting once the bill is signed

Sports gambling is coming to Massachusetts. The state's lawmakers reached an agreement on a bill that will legalize sports betting in the state late on Sunday night. The bill is expected to pass and be sent to Gov. Charlie Baker's desk on Monday. Baker has previously stated that he would sign a sports betting bill.

Massachusetts will be the 31st state in the country to legalize sports betting. 

As far as when the state's residents will be able to place wagers, lawmakers wouldn't commit to a timeline. However, House Speaker Rob Mariano said that casinos are awaiting formal regulations to come down, so that process can begin immediately.

Like many other states, bettors in Massachusetts will be permitted to place wagers on out-of-stage colleges, but not colleges that are located in the state. Senate Ways and Means Chairman Michael Rodriguez said that if Massachusetts schools are "lucky enough" to qualify for March Madness, then bettors would have the freedom to place wagers on those schools within the state.

"The Senate bill came out with no college at all — the House had full college," Rodrigues said, according to MassLive. "That's how you get things done, is reach compromise."

Sports betting in Massachusetts will come with a "very competitive tax rate" of 15 percent in person and 20 percent on mobile applications, according to Rodrigues.