Monday’s approval now means two online sportsbooks are on track to begin accepting bets in March, when the Massachusetts Gaming Commission intends to begin mobile betting in the Bay State.
A second company is on its way to offering online sports betting in Massachusetts.
BetMGM received applications for both the mobile bookmaker and the MGM Springfield casino, which was also licensed for sports, on Monday after a nearly 12-hour session in which regulators reviewed applications for both the mobile bookmaker and MGM Springfield Casino Casino audited, unanimously approved by the Massachusetts Gaming Commission (MGC). bet
“It’s a late night, but the deal is done,” MGC Chair Cathy Judd-Stein said around 9 p.m. ET.
A closer look
Technically, the MGC has granted BetMGM a preliminary determination of eligibility, which now allows the operator to apply for a temporary betting license while the regulator conducts a full review.
BetMGM’s so-called “Category 3” license run in The Massachusetts online sports betting site will be linked to the “category 1” license granted to MGM Springfield, as the latter license entitles the casino to two digital betting platforms.
“Once a temporary license has been granted, BetMGM must obtain a certificate of operation and meet additional conditions before it can accept bets on approved sporting events,” MGC said in a press release. “More information on a universal introduction to retail betting followed by online betting will be released as it becomes available.”
In addition to the standard terms attached to BetMGM’s approval, e.g. B. Paying a $1 million fee for a temporary license requires the operator to disclose all developments about two “confidential” investigations it reported to the MGC last week.
The investigations were discussed in camera in an “executive” session in camera. The same was true of BetMGM’s recent regulatory troubles in Maryland, which was recently fined $146,000 for allegedly taking bets in November without being authorized or licensed to do so. The MGC also examined this matter in more depth at its Executive Session.
MGC Press Release: Massachusetts Gaming Commission Votes BetMGM Eligible for Temporary Category 3 Sports Betting License pic.twitter.com/uFOCxiCPEW
— MA Gaming Commission (@MassGamingComm) December 20, 2022
In any case, Monday’s approval now means two online sportsbooks are on track to begin accepting bets in March, when the MGC intends to begin mobile betting in the Bay State. WynnBET is the other qualifying entity at this time.
However, the MGC is expected to continue its review of a mobile sportsbook application for Caesars Sportsbook on Tuesday. As time permits, regulators are likely to look into applications for a retail betting license for Plainridge Park Casino and mobile sportsbook licenses for its partners Barstool Sportsbook and Fanatics.
Licensing of legal sports betting establishments in Massachusetts has been relatively slow, as the MGC has been very deliberate in its pace. The commissioners have been relentless in getting the information they need to make their decisions, leading to the deferral of licensing decisions for both MGM Springfield and Plainridge Park earlier this month.
However, now there are two casinos and two online sportsbooks with important permits. These establishments and operators are well positioned to begin taking bets at the earliest opportunity in the Commonwealth.
“MGC has set a target to launch retail sports betting by the end of January 2023 and online/mobile sports betting by March 2023,” the regulator reiterated on Monday press release.