The advent of sports betting in Massachusetts will open up a new source of tax revenue for local governments, according to a new report, which suggests cities and towns will reap millions of dollars a year in proceeds.
The report by the gaming website PlayMA estimates the state will get about $60 million a year in tax revenue once wagers on games get underway, in addition to upward of $80 million in licensing fees from operators.
Of that, a projected $16.5 million would be deposited into the state’s Local Gaming Fund, which is distributed to cities and towns as part of the local aid process. The fund collected about $106 million from casino gambling in the previous fiscal year.
