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In a unanimous decision, the Massachusetts Gaming Commission (MGC) granted Fanatics Sportsbook the license to operate its sports betting platform in the state. The commission staff has reported that Fanatics Sportsbook is set to launch its operations by the end of May, making it the eighth operator to introduce a digital platform in Massachusetts.
News broke earlier this week that Fanatics Sportsbook was in discussions with PointsBet to acquire the latter's US assets. Over the weekend, the deal was officially announced, paving the way for Fanatics Sportsbook to gain access to 14 states, including New York, Illinois, New Jersey, Michigan, and Pennsylvania.
Notably, these states are among the top ten US states in population. With the inclusion of Ohio, Fanatics Sportsbook will have access to all legal wagering states within the top ten by population.
Currently, the Fanatics Sportsbook platform is operational for a limited number of customers in Ohio and Tennessee, while its first physical location opened in Maryland earlier this year.
The MGC's decision on Fanatics Sportsbook was swift during its six-hour meeting. Commissioners did not address the news of the potential PointsBet acquisition, and there was minimal discussion regarding the approval process.
In other developments, the commission dedicated significant time to reviewing three rules, including revising advertising rule 205 CMR 256. The commission agreed that advertising must include clear language indicating that sports betting is restricted to individuals aged 21 and older.
Additionally, the MGC approved specific changes to the house rules for Betr and FanDuel. These adjustments were exclusive to each operator and would not impact others in the market. Betr requested modifications regarding how it references parlays, while FanDuel sought changes to align with the evolving rules imposed by sports governing bodies.
On Monday, the MGC published its revenue report for April, revealing that both DraftKings and FanDuel had holds of 10% or higher. Notably, Boston-based DraftKings accounted for over 50% of the state's total betting handle. Despite Massachusetts ranking 16th in population and 11th among states with legal sports betting, the state's April handle of $579.3 million ranked third nationwide, trailing only New York ($1.55 billion) and New Jersey ($834 million).
Impressively, it took Massachusetts less than two months from the launch of its digital platform to surpass the $1 billion betting handle milestone.
With the awarding of the license, Fanatics Sportsbook is poised to enter the Massachusetts sports betting market, joining other operators in providing a comprehensive betting experience to enthusiasts across the state.
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I am a huge sports fan; locally, many know me as the guy who does the PA for our high school football team on Friday nights. Having grown up in Michigan, I am a sports fan of all the Detroit teams, and at the college level, I love Michigan State sports.More info on Caleb Tallman
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