Massachusetts Online Sports Betting Application Review to Resume Jan. 3
The holidays are ending, but the Massachusetts Gaming Commission’s (MGC) fussy time of year will persist in when the bureau reconvenes this Tuesday, Jan. 3.
The MGC is amid a marathon regulatory dig into of legion(p) sports betting applications from an regalia of interests seeking market place entry. Sports betting in Bay State was officially legalized inward August after Gov. Charlie Baker (R) signed a bipartizan compromise reached past the nation legislature.
The gaming expansion allows the state’s ternary commercial-grade casinos to control retail sportsbooks, positive as many as 2 online sportsbook platforms. The tell has also provided market accounting entry for Suffolk Downs and Raynham Park for in-person operations and 1 online sportsbook skin.
Massachusetts’ sports betting government note additionally allows for as many as seven full online sportsbook licenses to follow issued to entities that manage non get a physical front in the commonwealth. Known as Category 3 Sports Wagering Operator Licenses, the MGC says vi applications feature been received for the fully remote category.
State Investigations
The MGC before the holidays was reviewing and debating sports wagering applications for the trine casinos and their tethered online partners. The MGC sanctioned in the flesh(p) sports betting concessions for Encore Boston Harbor, MGM Springfield, and Plainridge Park.
Commissioners also deemed several tethered online sportsbooks suited for a license, including WynnBet, BetMGM, and Caesars Sportsbook. Encore Beantown is lending its online sports betting privileges to WynnBet and Caesars Entertainment, spell MGM capital of Illinois has partnered with BetMGM and plans to theater of operations offers for its other tegument opportunity at a later time.
The holidays provided the MGC with temporary embossment from their duties, but add up Tuesday, all custody testament be backward on bedeck to re-start the state’s sports betting diligence bidding. The five-member commission, backed past a robust faculty led past Executive Director Karen Wells, testament moot submissions from some of the industry’s largest players, positive a twosome from relative unknowns.
The lean of half a dozen Category 3 applicants includes FanDuel, DraftKings, Bally’s Interactive, PointsBet, Betway, and BetR.
While DraftKings and FanDuel are household names inward the sports gaming industry, Betway and BetR come with much less figure recognition. Their effectual operations inward other states are considerably littler than the vainglorious sportsbooks, which could reason some concern among the MGC.
DraftKings’ sportsbook is in operation(p) inwards 21 states, but Betway is live inwards only eight states. Massachusetts’ sports betting law encourages the MGC to throw penchant to sportsbook operators that feature demonstrated responsible for(p) business sector practices inwards other effectual markers where they’re licensed.
The MGC says its review article hearings testament black market Tues through Fri this calendar week outset at 10 am. The commission’s sports betting assessments before the Yuletide wear out on a regular basis lingered into the eventide hours.
$5M Fee
Each online sportsbook applicant that is deemed suitable for licensure inwards Old Colony testament incur a eyeshade for $5 million. The impose will take into account each sportsbook to run for quintuplet years. Renewals are countersink at another $5 million every 5 years.
Gross gaming revenue generated past in the flesh(p) sports betting will be taxed at 15%. Income from wandering trading operations will be taxed somewhat higher at 20%.
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