Fanatics and Betr near Massachusetts bow as regulators sign off rules
Aspiring sportsbook operators given greenlight by Massachusetts Gaming Commission with launches expected in May
Fanatics Sportsbook and Betr have moved a step closer to launching sportsbook operations in Massachusetts after receiving key approvals from the Massachusetts Gaming Commission (MGC).
At an MGC meeting on Tuesday, April 25, officials voted overwhelmingly (5-0) to approve Fanatics Sportsbook’s house rules, with the caveat that the operator add wording to explicitly state that credit cards cannot be used as a source of funds for sports wagers.
In a separate vote, the MGC approved an operational certificate for micro-betting operator Betr, one of the final steps in the regulatory process before the operator can launch in the Commonwealth.
Fanatics and Betr had initially planned to launch in Massachusetts on March 10 along with the other operators signed off by the MGC, however both postponed their respective launches.
In the case of Betr, the firm walked back from its launch in order to bring the Betr app up to a good standard for players in the state, while Fanatics has said it expects to launch in the state next month.
Other licensees including Bally’s and Betway have also delayed their launches in the Commonwealth to later dates, while PointsBet ended its own license application process in February despite being deemed a suitable operator by the MGC.
Six online sportsbooks launched on March 10 and are currently live in Massachusetts: Barstool Sportsbook, BetMGM, Caesars, DraftKings, FanDuel, and WynnBet. Three land-based casinos operate retail sports betting in the Commonwealth.
However, launching two months after the market debut means Fanatics and Betr will now face an uphill battle to gain market share in the state.
In its inaugural wagering report on April 18, MGC data confirmed Boston-based DraftKings in pole position after generating $257.6m in online handle – or just under 47% of the entire market – from March 10-31.
FanDuel, the US market leader and primary rival of DraftKings, ranked second with $181.1m in handle. BetMGM rounded out the top three with $45.3m, while Barstool Sportsbook – which traces its roots to Massachusetts – handled $29.5m in mobile bets.