WynnBET and Betr Leaving Massachusetts

WynnBET and Betr to Pull Out of Massachusetts Market

By Amelia Walker Senior Content Writer Updated: 17 February 2024

Amelia Walker Senior Content Writer

Amelia Walker is a Senior Content Writer at Betting.US. She has a law degree and deep knowledge of the gambling laws in the United States. Her mission is to keep players informed about responsible gambling, while her passion for sports helps her create useful guides. Amelia has over a decade of experience in betting, which has positioned her as a trusted voice among our readers.

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Six Operators Left in the State

WynnBET officially confirmed its decision to stop accepting online wagers in Massachusetts on January 31. Betr announced last week that it would not be renewing its temporary license in the state. These exits will leave six online sportsbooks operational in the state, namely BetMGM, Caesars Sportsbook, DraftKings, ESPN Bet, Fanatics Sportsbook, and FanDuel.

In a press release last year, Wynn officials said:

In light of the continued requirement for outsized marketing spend through user acquisition and promotions in online sports betting, we believe there are higher and better uses of capital deployment for Wynn Resorts shareholders.

The Massachusetts Gaming Commission has now put the decision on the departure of WynnBET and Betr on hold for further discussion relating to the process of ceasing operations. Both companies had previously submitted notices of their intent to exit the market.

WynnBET had previously announced plans to discontinue online sports betting operations in eight other states, namely Arizona, Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia, and West Virginia. While they continue to review their operations in New York and Michigan, WynnBET is now pulling out of the Massachusetts and Nevada markets.

WynnBET was the first operator to secure an online sports betting license in Massachusetts in December 2022.

The timeline for its exit will now depend on the approval process outlined by the commission. However, it was pointed out that the shutdown of the sports betting app will not impact WynnBET’s partnership with Encore Boston Harbor in Everett, where retail sports betting will continue to be available.

Betr has made it clear that Massachusetts no longer features in its plans. When unveiling its list of V1 Sportsbook launches in various states in 2024, Massachusetts was absent. The operator decided not to renew its temporary sports betting license in the state due to the high cost of the license, among other things. The company believes that reallocating those funds elsewhere will provide better value.

Struggling to Make Their Mark

Both WynnBET and Betr have struggled to gain a foothold in the competitive Massachusetts sports betting market since it was launched in March 2023. Both operators have consistently reported poor handle and revenue results.

In December 2023, WynnBET generated just $12.45 million in online bets, resulting in a taxable revenue of only $167,949. This contribution accounted for less than 2 percent of the statewide total.

In contrast, DraftKings and FanDuel together are responsible for nearly 80 percent of all online sports bets placed in Massachusetts. Last month, DraftKings led the way, handling almost 50 percent of all bets, amounting to $315.87 million, followed by FanDuel with nearly 30 percent, totaling $187.35 million.