The Massachusetts Gaming Commission (MGC) has taken a huge step forward with the recent approval of six mobile sports betting operators. Before giving the green light, the commission had held several public meetings to review the applications received and hear presentations from each company.
Six operators received a Category 3 sports betting licence
On Thursday, January 19, the commissioners voted on the preliminary sustainability of six operators applying for Category 3 sports betting licences, including Bally Bet, FanDuel, Better, DraftKings, Betway, and PointsBet. MGC considered several factors, including security measures, financial background and compliance with the industry’s regulations.
All companies, except for Betr, received their license unanimously. Betr’s suitability was questionable because of Jake Paul’s involvement. The professional fighter is also a co-founder of the company, which poses a concern about possibly offering combat sports betting to customers. This, in turn, can impact maintaining the licence’s integrity. However, the MGC ultimately decided that Betr was suitable to receive the licence.
The successful applicants now have a temporary license. They will move on to the next phase of fulfilling the requirements and obtaining a certification before they allow receiving bets on sports events.
Big win for sports enthusiasts in Massachusetts
Retail sports betting will launch in Massachusetts on January 31. However, players who want to place their sports bets online via mobile devices will have to wait until March 2023. This is exciting news for sports fans in the state, as it opens the door for greater access to sports betting options and the ability to place bets on the go.
This step is not just a huge win for sports bettors; the state predicts to generate significant revenue and boost the economy through income from taxes and fees from the industry.