The Battle For Mobile Sports Betting Licenses in Massachusetts is Not as Competitive as Initially Thought
The mobile betting licenses in Massachusetts are up for grabs as the Bay State will join the industry soon. However, the competition to obtain these licenses isn’t as competitive as the experts thought.
How Many Operators Have Approved Licenses So Far?
On Monday, the Massachusetts Gaming Commission stated that 12 sportsbook operators have licenses so far. Out of the ones that have licenses, five bookmakers joined existing casinos, six are operating on their own, and one is connected to a racetrack.
Encore-Boston Harbor, MGM-Springfield, and Plainridge Park are in the process of getting retail licenses as well. A new law was set as it would allow up to 15 licenses for sportsbooks that want a shot in Massachusetts.
Casinos are permitted to have two skins, while the two racetracks are allowed to have one each. Currently, there are seven stand-alone licenses available in the state, and a couple of companies have applied. These operators include Bally’s, Betr, Betway, DraftKings, FanDuel, and PointsBet.
What Other Companies Are Looking to Conduct Business in Massachusetts?
Fanatics is one of the companies looking to expand in Massachusetts. In early 2023, Fanatics will launch its platform. The company has been looking for ways to get more access to the industry, as new platforms tend to struggle against the competition.
Fanatics will be conducting business in Maryland, as it is one of the three sportsbooks that will launch at a later date. People in the Old Line State will be able to place wagers through mobile devices as the online market went live at 9 am on Wednesday.
The platform will need to enter other states to have a chance in California. Proposition 27 will need to drastically change its marketing strategies as the initiative failed miserably on the California ballot during the Midterm elections.
As part of a digital platform partnership with Raynham Park, bet365 has applied for a license. bet365 is one of the platforms that has struggled to gain market share in the United States but has several partnerships in the nation.
SI Sportsbook, Rush Street Interactive (BetRivers), Resorts World, Hard Rock, and Unibet are also well-known brands in the country. However, these bookmakers have yet to find any partners in the state. Any entities that apply after the deadline will be subject to a case-to-case basis.
When Can Bettors in the Bay State Place Wagers?
Currently, there is no set date as to when the market will launch in Massachusetts. Sportsbooks like DraftKings wanted the brick-and-mortar locations to launch first; however, the request was denied to start in 2022.
Regulators need an ample amount of time to set rules and regulations for the betting operation to run smoothly. There is still a chance for the mobile market to start first before the Super Bowl, while online bookmakers may have to wait longer to launch in Massachusetts. Potential bettors could cross state lines as states like New Hampshire offer legal sports gambling.
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