Mobile betting sites accepting wagers on Academy Awards in Massachusetts
BOSTON - Mobile sports betting has begun in Massachusetts. The state's newest income stream is expected to bring in millions in revenue.
For sports lovers, it's money in the palm of your hand, but what about for everyone else?
DraftKings CEO Jason Robins and Massachusetts House Speaker Ron Mariano announced the start of mobile betting - and the Celtics and Sox are likely to be a fan favorite.
"Lots of great teams to bet on here," says Robins.
"I took the Red Sox 78.5 wins," says Speaker Mariano.
But what about for people who don't watch sports? Is mobile betting off the table? DraftKings says no.
Mobile betting sites are now offering non-sports categories starting with the Academy Awards.
"I like sports, but I don't think I know enough about sports to put money down, but I think I could put money down on something I more interested in," says Katie, a Boston resident.
The Massachusetts Gaming Commission and state regulators will determine which non-sports categories will be allowed on mobile betting sites.
WBZ spoke to a betting analyst about how those decisions are made. "The whole point of wagering is to bet on something whose outcome has not been determined yet," said Bill Speros, a Senior Betting Analyst for Bookies.com.
"A lot of regulators, including those in Massachusetts have deemed the Oscars security so tight and so significant that no one knows the outcome ahead of time. So it's much more like a sporting event where we don't know what's going to happen as opposed to The Bachelor which has been taped months in advance," said Speros.
Mobile betting is likely to generate tens of millions of dollars annually, but will the addition of non-sports categories add to the pot?
"The number's not big. The action is limited. It's more on the marketing end of things... to introduce active betting to people who wouldn't necessarily be introduced," says Speros.
"I would more likely bet on the Oscars than sports," says Boston resident Sam Longo.
But this weekend even avid sports fanatics are rolling the dice down the red carpet.
The money generated by mobile betting will be put into the state's general fund.