The Massachusetts Gaming Commission is expected to continue its discussions this week with Betr and WynnBET as the two online sports betting operators look to exit the Bay State market later this month.
BetMassachusetts.com has learned the commission is planning a meeting for Thursday morning to work with both companies, which submitted their notices to the state’s regulatory body two weeks ago. Betr and WynnBET need the MGC to approve their departure plans from the Massachusetts sports betting market, including waivers for allowing them to leave without providing the requisite 90-day notice as the commission requires.
During the commission’s meeting last Thursday, commissioners, MGC staff members and Betr representatives discussed for an hour how that company would handle its planned exit, including notification of customers and how withdrawals would be managed. Unlike most sports betting operators, Betr does not offer futures markets, such as the winner of the NBA Championship or the first pick of the NFL Draft, so no action will need to be taken there.
At the end of that discussion, which featured several questions by commissioners and staff members about the timing of certain steps in the Betr plan, MGC Chair Cathy Judd-Stein called on staffers to work with Betr and Wynn representatives to identify and resolve any issues with their plans and then bring those back to the commission. She made that request because she felt the back-and-forth was causing confusion and wanted the process to be easier for the public to follow.
“We understand that this is a very big decision for your businesses, and it’s also really new territory for us,” said Judd-Stein.
Make sure you act now to claim the Massachusetts sportsbook promos offered by WynnBET and Betr before they exit the market.
Betr, Wynn Struggled in Massachusetts
In its proposed cessation plan to the commission, Betr sought an end date of Feb. 16 as a Massachusetts sports betting apps operator. It selected that date because it is the start of the NBA All-Star Break, with league play on hold until after the Feb. 18 exhibition in Indianapolis.
Betr received a temporary Category 3 license on Feb. 23, 2023, and began taking bets in April. That allowed them to operate for the past year while MGC staffers conducted a review to determine if commissioners should award it a full five-year license.
Betr made public its decision to leave Massachusetts last month when it announced plans to expand its online sports betting operations to other states. In Massachusetts, it never saw a monthly handle surpass the $592,966 it took in May.
The online arm of Wynn Resorts, which operates the Encore Boston Harbor casino resort in Everett, also received its Category 3 license on Feb. 23, 2023, and began taking wagers on March 10.
Massachusetts is the latest state for WynnBET to depart. Last August, Wynn announced it would stop taking bets in Arizona, Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia and West Virginia. Company officials cited the high marketing costs associated with customer acquisition and a desire to pursue other gaming opportunities worldwide as the reasons for the decision. It also noted operations would be under review in New York and Michigan, while its Massachusetts and Nevada sites would not be impacted.
However, despite Wynn’s presence in the state, its Massachusetts online operations failed to pick up market share. Out of the $643.2 million bettors wagered online in December, WynnBET accounted for just $12.5 million. Only Betr had a lower handle. DraftKings Massachusetts had $315.86 million in handle for the month. In its filing to the MGC last month, WynnBET proposed a termination date of Feb. 23.
