Twenty-nine prospective applicants have expressed interest in obtaining sports betting licenses in Massachusetts, according to the Massachusetts Gaming Commission.
It looks like the sports betting industry of Massachusetts is going to be ripe with excellent operators and many happy bettors. Let’s first talk about the launch of the sportsbook industry and the potential pioneers of the new market.
The Launch of Sports Betting in Massachusetts
The rumors about the potential debut of sports betting in Massachusetts have been circling for quite some time now.
On 20 October 2022, the Massachusetts Gaming Commission convened, but little progress was achieved and no launch date was provided.
The plan called for a retail debut in January 2023, just in time for the Super Bowl, followed by online sports betting launch in March just in time for the NCAA Tournament.
The state gaming commission pointed out that other states took eight months or longer to legalize sports betting, and that there is still no set timeframe nationwide. A retail launch prior to an online debut has been the topic of recent discussion.
Online and retail sports betting are both approved by the Massachusetts sports betting statute. Regulations, rules, testing, and licensing must all be completed before the formal debut of Massachusetts online sports betting.
So it seems like Massachusetts is going to become a part of the booming sports betting industry, which is experiencing unprecedented success. This is especially true for the online gaming market, with many excellent casino and sportsbook establishments that provide top-notch gaming experiences, from live dealer games to one-game parlays. And it looks like a lot of sportsbook establishments are already eager to enter the young Massachusetts market.
Massachusetts’ 29 Sports Betting License Applicants
A scoping survey, a necessary precursor for a sports betting operator application in Massachusetts, was published by the state’s regulator on October 7.
Sportsbook establishments interested in applying for a sportsbook license were told to fill out the survey by October 17.
The MGC said that, before the deadline, it had received surveys from 29 operators from possible candidates for Category 1, 2, and 3 sports betting licenses. Twenty-three came from possible Category 3 license applicants, three from parties interested in Category 1 licenses, and three from parties interested in Category 2 licenses.
The MGC stated it will utilize this information prior to the submission of applications to help the applicant evaluation process. The survey aimed to collect detailed information about possible candidates.
While the survey is a necessary component of a license application, the $200,000 non-refundable application processing cost is not payable until full applications are filed, according to the MGC.
By November 21, applicants for the new sports betting licenses must submit a complete application. Despite the fact that the initial deadline of October 17 has passed, more interested parties may still fill out the survey.
Seven online-exclusive licenses will be made available by Massachusetts, and operators of casinos and racetracks in the state will be eligible to apply for a sports betting license.
There will be two distinct taxation systems, with retail betting being taxed at 15% and online betting at 20%. While a broad variety of activities, including most forms of college football, would be open to betting, the law makes an exception for games featuring in-state teams.