WynnBET and Betr Request an Exit From Massachusetts Market

It was a busy day on Thursday for the Massachusetts Gaming Commission, which heard arguments from two current Massachusetts sports betting apps about their desire to exit the state's legal sports betting market and took care of some other timely business. However, neither of the apps is found on our list of best sportsbooks.

WynnBET and Betr submitted a notice of intent to abandon the Bay State market just over one year after the providers took advantage of the state's legal sports betting launch on Jan. 31, 2023. They would leave BetMGM, Caesars Sportsbook, DraftKings, ESPN Bet, Fanatics Sportsbook, and FanDuel as the only six Massachusetts sports betting apps in operation.

The desire for WynnBET and Betr to exit Massachusetts sports betting with different motivations. For one, it is part of a broader downsizing picture. For the other, the departure comes at a time of growth for its sports betting brand.

However, it remains to be seen if the Commission will make it easy for the two Massachusetts sports betting sites to close up shop in the state. Ninety days' notice is required under Massachusetts regulation to deal with such factors as bonuses, deposits, and returning funds to consumers. Each sportsbook hopes to be out of the Massachusetts market by the middle of February, way before the 90-day period ends.

WynnBET

For WynnBET, the first Massachusetts sports betting site to be licensed in the state, its desire to depart Massachusetts is part of the broader strategy of exiting the U.S. online sports betting market altogether.

WynnBET has struggled mightily to gain a respectable and financially sound market share in any of the states that it has a presence in. Last year, the company announced that it would abandon its presence in eight states across America, including Arizona, Colorado, Indiana, New Jersey, Louisiana, Tennessee, West Virginia, and Virginia.

Its Massachusetts operation was one that was expected to survive, mostly because of its relationship with Encore Boston Harbor, the only retail casino serving the Boston area. While the WynnBET app looks as though it is on its way out the door in Massachusetts, the retail sportsbook is expected to remain as part of Boston's landmark casino operation.

In December, the WynnBET app saw just $12.4 million in wagers in the Massachusetts market and came away with just $168,000 in taxable revenue.

It leaves Michigan, Nevada, and New York as the only states with a WynnBET online app. The question around that remains: for how long?

Betr

Betr's motivation to exit the Massachusetts legal sports betting market is the polar opposite of WynnBET's. Betr is in the process of expanding its U.S. presence, while WynnBET is in the process of shutting down.

Betr's presence in Massachusetts is in the form of a temporary license, which the company was granted last spring. It is simply choosing not to renew the license for the time being but is on record saying that it hoped “to receive the honor and privilege of re-entering this market at a later date.” 

In the meantime, Betr will concentrate on its Ohio and Virginia presence, as well as its new jurisdictions, Pennsylvania, Colorado, and Kentucky. The company has also applied to become part of the bustling Maryland and Indiana markets and will go live there pending licensing and regulatory approval.

Tale of two sportsbooks

WynnBET and Betr are writing different stories about their experiences in the booming U.S. legal sports betting market. Both are chasing a reasonable market share across the country, and both have failed to gain much ground on the big two, FanDuel and DraftKings, or even on the "second tier" providers, BetMGM, Caesars Sportsbook and ESPN BET. Residents of Massachusetts will still be able to take advantage of Massachusetts sportsbook promos at those shops.

WynnBET has failed to rise to the competition and has all but succumbed to the bigger players in the U.S. market. Betr seems to be adapting with its Betr Picks DFS product, which is live in 24 states and is an online casino product that is ready to be rolled out when iGaming is finally legalized in more than just a handful of states. 

The Massachusetts market was always going to be an uphill climb for smaller operators like WynnBET and Betr with FanDuel's massive national exposure and DraftKings with a similar profile and a home base in the Bay State.

Other business out of the Commission meeting

WynnBET and Betr's intentions weren't the only news out of the Massachusetts Gaming Commission meeting Thursday. 

The Gaming Commission also OK'd betting on women's professional hockey and decided to put off a decision on certain prop betting opportunities, some of which are centered around the Super Bowl. The Commission ultimately decided to delay decision of 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.

The Commission also announced violations by three different operators and named a new head of its Investigations Enforcement Bureau. The violations center around wagers on in-state college teams during home games. Such betting markets are prohibited but were granted anyway by three retail casinos. BetMGM, Fanatics Sportsbook, and MGM Springfield were all levied fines due to their transgressions.

At the meeting, Caitlin Monahan was also named head of the Investigations Enforcement Bureau.