Six Sportsbooks Apply for Massachusetts On-line Licenses

0
2


Simply six sportsbook operators have utilized for seven obtainable online-only licenses in Massachusetts. [Image: Shutterstock.com]

Deadline day

Solely six operators have utilized for the seven obtainable online-only sports activities betting licenses in Massachusetts.

a complete of 15 functions

The Massachusetts Gaming Fee (MGC) confirmed that it had acquired a complete of 15 functions by the deadline at 2pm Monday, with six choosing the online-only possibility. The six operators in search of an online-only license are PointsBet, FanDuel, DraftKings, Betway, Betr, and Bally Wager.

The Encore Boston Harbor, MGM Springfield, and Plainridge Park On line casino every submitted an utility for retail sportsbook licenses. These casinos are the one institutions within the state eligible to function retail betting. The state plans to get land-based sportsbooks up and operating by the top of January 2023.

Quite a lot of licenses

5 corporations submitted functions to permit them to launch on-line sportsbooks in collaboration with casinos. Caesars Sportsbook and WynnBET have partnered with Encore, Fanatics Sportsbook and Penn Sports activities Interactive with Plainridge, and BetMGM with the MGM Springfield.

Suffolk Downs has but to announce its companion

Two racetracks within the state are additionally in a position to companion with one operator for an internet betting license. Bet365 has utilized to companion with Raynham Park, however Suffolk Downs has but to announce its companion.

Underneath the present timeline, on-line sportsbooks will launch in early March 2023. State lawmakers estimated {that a} excessive variety of sportsbooks vying for licenses may immediate a delay, nevertheless, the quantity has fallen drastically from the 40 operators who beforehand expressed curiosity.

Important funds

Every of the 15 license functions will now go for overview in public MGC conferences, for which the physique will launch its schedule quickly. As a way to submit an utility, every operator has to pay a non-refundable payment of $200,000. Because of this, the MGC took in a complete of $3m by the Monday deadline. The precise license payment will then quantity to $5m per operator.

These funds will go right into a newly arrange Sports activities Wagering Management Fund. The MGC could have management over the funds, with the cash used to “finance the operational actions of the fee pertaining to sports activities wagering.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here