The announcement comes after the regulator held multiple meetings and reviewed the applications submitted by the operators. In addition, the MGC reviewed presentations and participated in discussions with each of the operators prior to giving the green light for preliminary suitability.
Following the latest MGC meeting, Bally Bet, DraftKings, FanDuel, Betway and PointsBet have all secured a temporary untethered Category 3 sports betting operator license via a unanimous vote. The sixth operator that secured a temporary license in Massachusetts after a 4-1 vote by the regulator was Betr, a gambling venture by social media star Jake Paul.
The announcement about the preliminary suitability for untethered Category 3 sports betting licenses comes ahead of the planned launch of sports betting in the state. Massachusetts legalized the activity last summer, but only recently, the MGC confirmed it plans to launch retail sports betting on January 31.
On the other hand, mobile/online sports betting is expected to roll out at some point in March this year as well. The regulator vowed to confirm the date at a later point. Considering the latest temporary license approval, the six operators join five other companies that have already secured a license in Massachusetts.
Sports Betting Continues to Expand around the US
Ever since PASPA’s repeal back in 2018, which used to restrict sports betting to a few states, the activity has been expanding rapidly. Overruling PASPA, the US Supreme Court enabled legislators in each state to legalize sports betting, establish a regulatory framework and introduce the activity. As a result, sports betting soared and continues to expand.
By now, according to data from the American Gaming Association, there are 32 states, as well as DC that offer some form of sports wagering. What’s more, there are four states, one of which is Massachusetts, that have legalized the activity and are planning to introduce it. Five other states are currently trying to legalize some form of wagering on sports, while nine states have no ongoing legislative efforts.
The taxation of sports betting creates fresh revenue for counties and states. Besides bringing invaluable economic stimulus, the activity contributes in the form of sponsorship with professional sports teams and leagues. Legal sports wagering also benefits bettors and having multiple operators offering the activity creates a competitive market. At the same time, legalization of the activity decreases the share of the black market or offshore operators and helps protect the well-being of the customers.