BOSTON (WHDH) - Talks among state legislators that stretched until near sunrise yielded one of the last sports betting laws on the books on the East Coast.

Though the governor has yet to sign the bill, he has been vocal about his support for the issue in the past.

“Obviously, it took a little bit longer to get to where we are, but at the end of the day, I think we have an agreement that protects both the consumer and the athlete while also bringing Massachusetts a brand new industry,” said Rep. David Muradian (R-Grafton), who helped negotiate the bill.

The House and Senate were locked at odds over whether to legalize collegiate sports betting. The two branches compromised, allowing college betting, but not on in-state schools unless they’re in a tournament like March Madness.

The tax rate will be 15% for wagers placed in person and 20% for online bets. These are paid by the company taking the bets, not the betters themselves.

“Landing at 20% for online sports betting and 15% for retail sports betting will make Massachusetts one of the most competitive markets in the Northeast,” said Daniel Wallach, a sports betting expert. “(It) will allow it to generate a very robust handle which, in turn, will drive a lot of tax dollars to the Commonwealth.”

Bay Staters will probably be able to cast their bets sometime during the NFL season but likely not by week one as lawmakers work out the rules.

College administrators and athletic directors in Massachusetts largely did not want any betting on college games for fear of adding pressures and temptations for college players. Some who share those concerns have said banning betting on most in-state games is a good compromise.

“The prohibition against betting on sports teams in Massachusetts, I think, is/was a wonderful thing, and if it seems to be ill-advised, the legislature can always alter that and make amendments to that moving forward,” said Paul DeBole, an assistant professor of political science at Lasell University.

Gov. Baker has less than 10 days to decide whether he will sign the legislation.

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