WynnBET and Betr Request an Exit From Massachusetts Market

Thursday was a hectic day for the Massachusetts Gaming Commission as they listened to arguments from two existing Massachusetts sports betting apps looking to leave the state’s legal sports betting market. Despite this, it is worth noting that neither of these apps are featured on our list of top sportsbooks.

WynnBET and Betr have announced their intention to exit the Bay State market, just one year after joining the state’s legal sports betting launch on Jan. 31, 2023. This would leave BetMGM, Caesars, DraftKings, ESPN Bet, Fanatics, and FanDuel as the remaining six Massachusetts sports betting apps in operation.

WynnBET and Betr have different reasons for exiting the Massachusetts sports betting market. WynnBET’s decision is part of a larger strategy to downsize, while Betr is leaving at a time when its sports betting brand is experiencing growth.

It is uncertain whether the Commission will facilitate the closure of the two Massachusetts sports betting sites. According to Massachusetts regulations, a 90-day notice is required to address issues such as bonuses, deposits, and refunding customers. Both sportsbooks aim to exit the Massachusetts market by mid-February, well before the 90-day period expires.

WynnBET

WynnBET, the first licensed sports betting site in Massachusetts, is looking to leave the state as part of its larger plan to exit the entire U.S. online sports betting market.

WynnBET has faced significant challenges in establishing a strong and profitable market share in the states where it operates. In a recent announcement, the company revealed plans to withdraw from eight states, including Arizona, Colorado, Indiana, New Jersey, Louisiana, Tennessee, West Virginia, and Virginia.

The Massachusetts branch was anticipated to endure due to its connection with Encore Boston Harbor, the sole retail casino in the Boston region. Although the WynnBET app may not continue in Massachusetts, the physical sportsbook is likely to stay as a key component of Boston’s iconic casino establishment.

In December, the WynnBET app generated $12.4 million in wagers in the Massachusetts market, resulting in only $168,000 in taxable revenue.

Michigan, Nevada, and New York are currently the only states with a WynnBET online app. The lingering question is how long they will remain exclusive.

Betr

Betr is motivated to leave the Massachusetts legal sports betting market due to their desire to expand their U.S. presence, whereas WynnBET is in the process of shutting down.

Betr currently holds a temporary license in Massachusetts, granted last spring. The company has decided not to renew the license at this time, but has expressed interest in re-entering the market in the future.

Currently, Betr is focusing on expanding its operations in Ohio and Virginia, along with entering new markets in Pennsylvania, Colorado, and Kentucky. The company has also submitted applications to enter the Maryland and Indiana markets, with plans to launch pending approval from licensing and regulatory authorities.

Tale of two sportsbooks

WynnBET and Betr are each sharing their unique tales of navigating the growing U.S. legal sports betting industry. Despite their efforts to capture a significant portion of the market nationwide, they have struggled to surpass industry giants like FanDuel and DraftKings, as well as other popular providers such as BetMGM, Caesars Underscoreg, and ESPN BET. However, Massachusetts residents can still enjoy promotions from Massachusetts sportsbooks offered by these top players in the industry.

WynnBET has struggled to keep up with competitors and has been overshadowed by larger players in the U.S. market. On the other hand, Betr appears to be evolving with its Betr Picks DFS product, currently operational in 24 states. Additionally, Betr is prepared to launch an online casino product once iGaming is legalized in more states beyond just a few.

Smaller operators like WynnBET and Betr faced a challenging battle in the Massachusetts market due to the dominant presence of FanDuel and DraftKings, who have nationwide recognition and the advantage of being based in the Bay State.

Other business out of the Commission meeting

In addition to WynnBET and Betr’s intentions, there were other notable updates from the Massachusetts Gaming Commission meeting on Thursday.

The Gaming Commission approved betting on women’s professional hockey and postponed making a decision on specific prop betting opportunities, including those related to the Super Bowl. The Commission chose to delay ruling on prop bets such as “X Team’s Next Head Coach” and “Player X Next Team,” as well as popular Super Bowl props like the coin toss, the color of the Gatorade shower for the winning coach, and the length of the National Anthem.

Three different operators were found in violation by the Commission, which also appointed a new head of its Investigations Enforcement Bureau. The violations involved wagers on in-state college teams during home games, a prohibited betting market that three retail casinos – BetMGM, Fanatics Underscoreg, and MGM Springfield – allowed despite regulations. As a result, fines were imposed on all three operators for their transgressions.

During the meeting, Caitlin Monahan was appointed as the head of the Investigations Enforcement Bureau.