Massachusetts could soon welcome more gambling companies

Summary

• MGC reopens licensing process, looks for companies willing to snag an extra license
• The process was reopened after Bet365 initially expressed interest in entering the state
• Massachusetts has reiterated its skepticism towards prediction markets - which are "absolutely not welcome"

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Traditional sports betting companies may have a shot at entering Massachusetts, after the state regulator, the Massachusetts Gaming Commission (MGC) has said that the time has come for the watchdog to open further licensing opportunities.

MGC is ready and happy to welcome more sportsbooks in the Bay State

The decision comes at a fraught time for the Bay State, as the threat to traditional sports business models is challenged by prediction markets and some companies, including FanDuel and DraftKings, exploring that alternative vertical themselves in parallel with their mainstay. The commission was prompted by an inquiry by Bet365, and Chair Jordan Maynard said that he was heartened to see interest in the traditional sports betting space, but did not hesitate to take a jab at the prediction market platforms, which the Bay State definitely doesn’t allow. The idea is to utilize the empty spots, as Massachusetts currently has more slots that can be used by gambling companies who wish to set up shop in the state. With the licensing process reopening, this means that companies will be able to join the fray, although they would have to consider the local market competition. For its part, bet365, which previously missed out on the opportunity to join the Bay State’s sports betting race is now apparently happy to plow the resources needed to expand further afield. Whether any new sports betting companies enter the Bay State remains to be seen, however. In the meantime, Xpoint also recently secured a license in the state. Xpoint is a geolocation specialist that helps existing sports betting businesses ensure that it only accepts wagers and account registrations from the legal boundaries of the regulated market in each respective jurisdiction.