Almost six months since the bill passed, we have a Massachusetts legal sports betting update 2023.
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Retail sports betting begins next week, but when will mobile sports betting in MA come to fruition?
The clock is ticking in the Bay State as regulators work to finalize licenses and rules packages before the launch of retail sports betting. Retail is set to launch at 10 a.m. on Tuesday, Jan. 30. But two more months likely remain before the kickoff of mobile sports betting, which promises to dominate the market in Massachusetts. Which isn’t shocking, given it has been in every other state where it’s legalized.
This week, the Massachusetts Gaming Commission (MGC) continued plodding through the details of the state’s sports betting framework. The MGC is releasing an exhaustive catalog of what types of events sports betting operators can offer markets on. In addition to major leagues like the NFL and NBA, commissioners gave the OK to events like the Oscars, Emmy Awards, Nathan’s Famous Hot Dog Eating Contest, and X-Games. However, it excluded eSports, chess, and cornhole. Unfortunately, Olympic sports like gymnastics and figure skating won’t be available to wager on, either.
Meanwhile, retail sports betting will launch Tuesday at Encore Boston Harbor in Everett, MGM Springfield, and Plainridge Park Casino in Plainville. Raynham Park, a simulcast horse racing facility, has applied for a retail license for what the facility says will be a 38,000-square-foot sportsbook operated by partner Caesars. According to reports, the original mobile partner of Rayhnam Park, bet365, is no longer in the picture.
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Massachusetts Legal Sports Betting Update 2023: 11 betting apps on launch day?
The launch of retail sports betting remains only a prelude to the kickoff of mobile sports betting in the Bay State.
Massachusetts regulators have targeted a March launch for mobile sports betting. Of course, just in time for the NCAA basketball tournament, one of America’s most heavily bet-on sporting events. And even if Massachusetts’ sports betting law forbids wagering on in-state college teams, it makes an exception for tournaments. That means sportsbooks in Massachusetts could accept bets on schools like Harvard or UMass should they qualify for March Madness.
The sports betting law in Massachusetts allows up to 15 mobile sportsbooks to operate within the state. According to reports, Bay State bettors will have at least 11 to choose from on launch day in March.
Those 11 operators include Caesars, BetMGM, WynnBET, Barstool, Fanatics, Betr, DraftKings, FanDuel, Bally Bet, Betway, and PointsBet.
So far, all 11 operators have received license approval from the Massachusetts Gaming Commission. Some of those licenses were 1-year temporary authorizations, including Barstool, which has incurred fines for violations in other states.
In states that have legalized retail and mobile sports betting, 90% of wagers or more tend to be placed via the mobile method. That much was evident in neighboring New York, where the state’s retail sportsbooks averaged a few million dollars in combined revenue before the January 2022 introduction of mobile sports betting. Fast forward to now, and mobile sports betting in New York generates over $100 million in monthly revenue. Of course, a chunk of that goes to the state in taxes.
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More Sports Betting Operators In The Mix In Massachusetts?
With nearly 7.2 million residents, Massachusetts will become the ninth-most populous state in the U.S. to offer mobile sports betting when the practice launches in March.
A study undertaken by the Massachusetts state Senate said legal sports betting could bring in $60 million in annual taxes. That is due to the state charging a 20% tax on mobile operators (as opposed to a 15% tax on retail sportsbooks).
Bettors in Massachusetts must be at least the legal age of 21 and physically within the confines of the state to place mobile wagers. The state will not allow credit cards to fund accounts with mobile sportsbooks. However, Massachusetts will allow the use of debit cards.
More players could still emerge on the Massachusetts sports betting scene. Suffolk Downs, another horse racing simulcast facility, will reportedly apply for a retail license with partner BetRivers. Unibet and BetFred are among the more notable names that expressed initial interest in the state. Still, they have not yet applied for a mobile license.
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