Massachusetts Sportsbook was legalized just under a month ago, but eager locals are already pressuring gaming officials to push for a quick launch.
Residents expect to start in 2022
While some states have successfully introduced domestic sports betting options in a matter of months, others have taken years. Some fear its debut will be delayed until 2023.
The timing would not be ideal for anyone. All parties lose by missing out on huge revenue from NFL and FIFA betting. In light of this, the Massachusetts Gaming Commission is taking proactive measures to understand the scope of operators’ interests.
Last month, the commissioners asked that companies interested in hosting sports betting services submit a letter of intent. The document asks questions about the applicant’s prior licensing and goals for the operation.
The commission closed its filings on Wednesday and announced the names of potential vendors and licensees on Thursday. With more than 40 interested parties, the Massachusetts Gaming Commission has many deliberations ahead.
Types of MA Sportsbook Licensing
Sports betting licensing in the state is divided into the following three categories:
Category One: The three Massachusetts casinos and slot machine shops are each authorized to offer retail and online wagering options. Operators with this type of licensing have the privilege of affiliating with no more than two legal mobile sports betting app Brands.
Category two: Licensing for horse racing and simulcasting providers is a bit more restrictive than casinos. Operators with this type of licensing can also host retail and digital betting options. However, online betting partnerships are limited to one brand.
Category Three: Operators lucky enough to get their hands on this type of licensing can host online and mobile betting services as a standalone business. Without the need for revenue sharing with a local gambling partner, this is the most valuable option of the three. However, only seven of these coveted licenses are made available.
What’s next for legal betting
Commenting on MassLive reporters, gaming attorney Daniel Wallach explained that Category Three licensing could open several doors for small sports betting businesses. Speaking of ambitious from the new legal sports betting statehe says,
“This is one of the few states that offers an entry point for startup companies. Massachusetts will attract its fair share of startups and smaller companies looking to break into the online gaming component.”
Wallach’s vision for the future will depend entirely on criteria set by the Massachusetts Gaming Commission. Mega groups like DraftKings, FanDuel and BetMGM already have a foot in the door and are no strangers to the competition.
Gambling officials could easily decide that the Government revenue from sports betting have a higher priority than supporting local businesses. And they wouldn’t be the first state to do so.
The Commission has highlighted 225 issues for discussion and regulation, meaning they have done so a lot of the work on the table. All in all, residents will have to wait a while before an official launch schedule is announced.
Source: MassLive, WCVB