EAST LONGMEADOW – State Sen. Eric Lesser has filed a sports betting bill that is the result of “a fairly cautious approach.”

Lesser explained in a press conference on Feb. 22, his bill reflects research concerning how other states have handled sports gaming, as well as the needs in the Bay State.

He said he has looked at what’s worked well in other states. His bill is “attempting to strike the right balance.”

Key parts of the bill would prohibit making wagers on any amateur or collegiate sports and would be exclusively professional sports. The use of credit cards would be prohibited and like other forms of legal gaming it would only open to people 21 years of age or older.

Here are other details from the bill:

• This legislation will establish a framework for both in-person and mobile betting on professional sports at the state’s brick and mortar casinos, 128A and 128C racetracks, and for standalone mobile licenses.  Alongside the legalization of sports wagering, this legislation will include some of the most comprehensive and strictest consumer protections in the country to protect both athletes and consumers.

• Casinos and slot parlors may apply for a Category 1 license, which allows for an in-person sportsbook and allows them to partner with up to three individually branded mobile applications that are approved by the Massachusetts Gaming Commission (MGC).

• A live 128A racetrack and a 128C facility authorized to conduct simulcast wagering may apply for a Category 2 license. A Category 2 license allows for an in-person sportsbook and allows the licensee to partner with one branded mobile application approved by the MGC. However, the facility must maintain a racing facility, locate the in-person sportsbook at the racing facility, and hold at least 50 racing days a year.

• Pursuant to an open and competitive selection process, the MGC may authorize up to six Category 3 licenses, which allows sports wagering through a mobile application or other digital platforms approved by the MGC

• Category 1 and 2 have a $1 million application fee. Category 1 has a $2.5 million initial  license fee with category 2 has an initial license fee of $1.5 million.

• Online gambling will have six licenses available and will have a $2 million application fee and a $7.5 million initial license fee.

• There will be a tax rate of 20 percent on Category 1 and 2 licenses and a 25 percent tax on Category 3.

When asked about the tax rates he said, “The tax rate is a little bit of a moving target.” He explained that some states are lower but Rhode Island and New Hampshire are “significantly higher.”

He cautioned that estimating revenue amounts has been difficult and the MGC believes it could be from $8 million to $16 million. Lesser added these new gaming revenues, if the bill is passed, “are not a panacea” for state budget issues.

In speaking about the bill ruling out betting on college sports, Lesser noted Rhode Island does allow it, while New Jersey will not allow any wagers on teams located in New Jersey. “All Division One schools [in the commonwealth] are against sports betting.” Lesser added.

The senator noted it has been almost three years since the Supreme Court struck down a law that prohibited sports betting.