Legal Retail Sports Betting Kicks off in Massachusetts
Residents of Massachusetts can finally place legal sports bets after a long wait.
Massachusetts sports betting began on Tuesday at three retail locations in the Bay State, perfectly timed to coincide with the Super Bowl, known as “Christmas for North American sportsbooks.”
Individuals aged 21 and over are now able to participate in legal sports betting starting at 10 a.m. at Plainridge Park Casino in Plainville, MGM Springfield, and Encore Boston Harbor in Everett. The launch at these locations marks the end of a lengthy process involving state legislation and regulations in a state that is also home to DraftKings, a prominent sports betting site in the United States.
Springfield Mayor Domenic J. Sarno and Boston Bruins icon Ray Bourque were present at BetMGM Lounge in Springfield to make the inaugural legal sports bet in the state.
Rounding out the Massachusetts scene
The Massachusetts Gaming Commission has been actively preparing for a strong legal sports betting market.
Plainridge Park Casino in Plainville, MGM Springfield, and Encore Boston Harbor in Everett will serve as the forefront of the retail aspect of the business and will play a significant role until March, when mobile sports betting will be launched in time for March Madness. The Commission recently awarded Category 3 “untethered” legal sports betting licenses to Bally’s, Betr, Betway, DraftKings, FanDuel, and PointsBet.
Two additional untethered mobile providers may be approved to operate in Massachusetts. The decision on their approval could be made before March, but currently, there are no signs of any other potential mobile sportsbooks entering the state.
Barstool and Fanatics will soon be the mobile sports betting providers at Plainridge Park Casino, while BetMGM will be available at MGM Springfield. Caesars and WynnBET will be the online sports betting providers at Encore Boston Harbor.
What to expect in Massachusetts
The retail sports betting launch in Massachusetts is just the beginning, with plans for a more comprehensive and profitable mobile sports platform set to go live in early March. In over 30 states where mobile wagering is available, online betting accounts for between 70% and 95% of monthly handles.
As the scene matures, Massachusetts is poised to emerge as a Top-10 legal sports betting jurisdiction in the rapidly growing U.S. market, largely due to the presence of leading sportsbooks in the country. Various studies have projected that legalization could generate tax revenue ranging from $35 million to $60 million annually.
Initially, there were worries that the MGC would restrict bets on popular sports and tightly control the types of bets permitted in their state. However, those fears were dispelled recently when the Commission unveiled a comprehensive platform that would permit bets on a wide range of sports and offer Massachusetts residents a plethora of betting options similar to those available in top sports betting locations across the country.
What markets are available in Massachusetts?
Massachusetts officials have developed an extensive list of sports that residents can legally place bets on, mirroring the offerings of other leading sports betting states. The options cover all major professional and collegiate sports in North America, as well as popular leagues from across the globe.
Betting on awards shows, like the Oscars, is now allowed.
Teams from in-state colleges are not eligible unless they are participating in a tournament like March Madness. The Olympics, high school athletics, and sports regulated by the Russian government are also excluded.
Massachusetts residents will have access to a wide range of betting options, including single-game betting, moneylines, point spreads, parlays, over/under bets, teasers, live/in-game betting, pleasers, round robins, and numerous prop betting opportunities. Just like the sports menu, there will be no limitations on the markets available for betting.
At the same time, Massachusetts sports bettors can take advantage of sports betting promotions as the state’s sports betting market gears up to become one of the most competitive in the industry.