Massachusetts begins sports betting journey with intent exercise
Bay State regulator invites prospective licensees to register interest as potential framework talks rumble on
The Massachusetts Gaming Commission (MGC) has invited prospective licensees to register their interest in sports betting licenses by submitting a notice of intent to apply.
In the first concrete move taken by the regulator since signing of enabling legislation on August 10 by state Governor Charlie Baker, the MGC has asked all operators to indicate their interest by August 31 by submitting a two-page form.
“This form is being requested for informational purposes only and to aid the MGC in understanding potential interest in licenses for sports wagering,” the MGC said in the document.
“This notice of intent is not to be construed as an application or request for a temporary license and does not bind the MGC in any way,” the regulator added.
The nine-question form asks the prospective operator to confirm company details and include basic contact information, whether it conducted simulcast wagering in the state after December 31, 2020, and the name of any mobile application used.
Finally, the form seeks confirmation on any existing sports betting licenses held both for physical sportsbooks as well as online, and for notification of any jurisdiction in which the said entity applied for a license but withdrew or had its application rejected by the regulator concerned.
In addition, prospective licensees are also required to provide a brief description of their respective business, as well as details of the business model they plan to employ in the state.
House Bill 5164 legalizes betting on certain sports in the state and designates the MGC as the regulator of the new industry.
It identifies three categories of sports wagering licenses, which the MGC may grant to entities meeting specific requirements.
“As the MGC continues to work to regulate and stand-up sports wagering in Massachusetts, the MGC is requesting that any entity interested in obtaining a sports wagering license to submit this Notice of Intent so a landscape of interest in sports wagering licenses can come into focus,” the MGC said in a statement confirming the start of the intent exercise.
“This form is being requested for informational purposes only and to aid the MGC in understanding potential interest in licenses for sports wagering.
“This notice of intent is not to be construed as an application or request for a temporary license and does not bind the MGC in any way,” the regulator added.
Officials from the MGC have previously refuted any speculation that the state could launch sports betting in time for the new NFL season, with MGC commissioner Bradford Hill suggesting it wouldn’t “happen overnight” and that the public needed to remain patient with the regulator.
Speaking in August, Hill said: “We are going to do this right, and in order to do this right, we need to take our time a little bit.”
Massachusetts tax rate for land-based and online sportsbooks is set at 15% and 20%, respectively, with a license fee costing $5m for a five-year period.