Mobile Sportsbook Betr, WynnBet to Leave Massachusetts
Massachusetts Gambling Operators: Down to 6 Mobile Sportsbooks
Betr and WynnBET are on their way out of Massachusetts.
The Massachusetts Gaming Commission approved plans on Thursday for both mobile sports betting platforms to cease operations in the state. What does this mean for Massachusetts gambling operators? Here’s the latest.
Closing Up Shop
Both Betr and WynnBet have already stopped accepting deposits and wagers, as exit dates are just around the corner. Betr’s final day in Massachusetts will be Feb. 16, while WynnBet plans to shut down on Feb. 23, exactly one year after it was awarded a temporary license.
These departures will leave Massachusetts with six online gambling sites: DraftKings, FanDuel, BetMGM, Caesars Sportsbook, ESPN BET and Fanatics Sportsbook. Massachusetts allows up to 17 sports betting licenses, although it remains to be seen if the state plans to welcome new operators.
The MGC required both Betr and WynnBET to submit timelines for how they plan to roll back operations over the coming weeks. Betr, for instance, will hand out checks to customers with remaining funds after March 16.
WynnBET, meanwhile, will allow withdrawals for up to 30 days after Feb. 23. Should any bets not be decided within that 30-day window, WynnBET asks that customers contact their customer service reps for a resolution.
While the commission generally requires at least 90-days notice before shutting down, both gambling sites were granted waivers to expedite the process.
“We will give them an opportunity for fair value for their wager that they could place with another operator,” Jennifer Roberts, vice president and general counsel for WynnBET, said via sportsbettingdime.com.
“It won’t necessary be a payout of the full wager, because the wager is unsettled. At a minimum, we would be returning their stake that they would be able to place with another operator.”
Mobile sports gambling has been up and running in Massachusetts since March 10, 2023, approximately months after legalization occurred.
Next Steps
WynnBET also intends to halt operations for its Encore Boston Harbor sportsbook.
Meanwhile, Betr, a digital platform co-founded by boxer and YouTube personality Jake Paul, has not ruled out returning at some point. Ashwin Krishnan, head of legal and business affairs for the outgoing Massachusetts gambling operator, said the sportsbook “hopes to re-enter at some point in the future,” according to sportsbettingdime.com.
WynnBET still operates in Michigan, Nevada and New York, but its base has dwindled within the last 12 months. Last August, it exited eight states — Arizona, Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia, and West Virginia — due to rising customer acquisition costs.
At the time, its priority was shrinking its mobile sports betting operations to areas in which it had physical casinos, specifically Boston and Las Vegas. In December, WynnBet reported just $12.4 million in wagers in Massachusetts, which equated to only $168,000 in taxable revenue.
Meanwhile, Betr is now operational in only Ohio and Virginia. However, it plans to expand into Colorado, Kentucky and Pennsylvania. Betr has also applied for licenses in Indiana and Maryland and is awaiting regulatory approval.
For the latest news on Massachusetts gambling operators, visit Point Spreads Sports Magazine.
