The Sports Betting Conference Committee has reached an agreement on legislation to legalize sports betting in Massachusetts.

The legislation would allow for wagering on both professional and collegiate sports in the Bay State. Betting would be allowed on out-of-state colleges and universities only, unless a Massachusetts college or university is participating in a national tournament such as college basketball’s NCAA Tournament. The legislation also would institute a 15% tax on in-person betting and a 20% tax on mobile betting.

House Speaker Ron Mariano thanked other lawmakers for “recognizing the incredible economic opportunity that legalized sports betting presents.”

DraftKings CEO Jason Robins said: “We are thrilled that our home state has acted to protect consumers, create jobs and grow revenue in the Commonwealth. We particularly want to thank Speaker Mariano, Senate President Spilka, Chairs Michlewitz and Rodrigues and the members of the conference committee for their leadership. We are hopeful that the legislature will move to quickly pass this bill and Governor Baker will sign it into law.”

Less than two weeks ago, Speaker Mariano said House and Senate negotiators were “far apart” on the legislation. One of the major discussion points was whether or not to allow collegiate sports betting in addition to professional sports.

If signed by Governor Baker, Massachusetts will join 30 other states and Washington D.C. in legalizing sports betting.