The Massachusetts Gaming Commission has been busy since the Ohio sports betting market started in 2023 with a universal launch. The Commission in the Bay State issued six temporary licenses for the entities pursuing mobile sports wagering licenses.
What Were the Six Sportsbooks That Received These Licenses?
The goal for the market is to launch before the start of the March Madness Tournament. The six platforms that received the honor were Bally Bet, Betr, Betway, DraftKings, FanDuel, and PointsBet due to the presentations they conducted in front of members of the Commission.
Five of the six companies received unanimous votes, but Betr had to make a strong case to be awarded the temporary license. The reason behind it was Betr was a newcomer to the sports betting industry that promotes being an innovative platform in the highly competitive industry.
In her vote against Betr, Eileen O’Brien noted that Jake Paul’s celebrity status may lead to an increase in problem gambling among younger sports bettors. This wasn’t the first time this happened, as Barstool has been on the hot seat in Ohio after Dave Portnoy was seen on the University of Toledo campus promoting sports betting.
A number of other online sportsbooks had received approval from the MGC prior to Thursday’s meeting, including Barstool Sportsbook at Plainridge Park, BetMGM at MGM Springfield, Caesars Sportsbook at Encore Boston Harbor, Fanatics at Plainridge Park, and WynnBET at Encore Boston Harbor.
These Entities Must Meet Extensive Criteria
Companies must meet standards to conduct business in the sports betting industry, and Massachusetts is no exception. The first box they must cover is the economic benefits the companies could potentially bring if they receive a license.
Other internal and external factors include promoting the willingness to foster ethical and gender diversity. The technology must also be demonstrated to be appropriate for the operation because the state doesn’t want to run into any issues that could have been avoided easily.
As part of a lengthy review process, the MGC assessed whether the untethered digital wagering operators would offer innovation and player choice. According to the projections, experts believe the state has the potential to generate $306.6 million in sports betting revenue this year.
On the other hand, assuming there are no unforeseeable issues that arise in the industry or other external factors, they expect the number to rise considerably by 2027; $408.8 million by 2027. During its meeting Thursday, the MGC also discussed Betway’s launch in the Bay State, but the entity will not be ready by the universal launch date.
No In-State Collegiate Sports Betting
The House and Senate chambers were able to iron out their differences during the final minutes of the legislative session. Similarly to other states, bettors across the state will not be permitted to place wagers on in-state collegiate teams, but there is one exception.
Although placing wagers on in-state teams will be prohibited during the regular season, there will be an exception for any teams that receive invitations to tournaments like March Madness. The March Madness Tournament attracts more wagers than any other major event, which includes the Super Bowl.