In a recent announcement, Fanatics Holding revealed its plans to launch its sports betting platform in several US states during the first quarter of 2023. During a meeting with the Massachusetts Gaming Commission (MGC), the parent company of Fanatics Betting and Gaming (FBG), Fanatics Commerce, and Fanatics Collectibles shared its goals.
Following a unanimous vote, the MGC has now determined that Fanatics Betting and Gaming is “preliminarily suitable for a Category 3 sports wagering operator license.” The MGC reviewed the business’ application for an operator’s sports betting license before making its ultimate decision.
Fanatics to submit internal responsible gaming plan to MGC
Before formally launching its sports betting services in the state of Massachusetts, Fanatics will be required to develop an internal plan for responsible gambling and provide the plan to the commission as part of the commissioner’s request.
While MGC’s Investigations and Enforcement Bureau completes its comprehensive suitability review, Fanatics is qualified to request a temporary license to offer sports wagering to customers. The Category 3 license would be linked to the Category 1 license for sports betting operations held by Plainridge Park Casino.
After Fanatics receives a temporary license, the company must then complete additional procedures and obtain an operating certificate. These requirements must be met before the sportsbook is permitted to accept bets on any authorized sporting event.
Category 3 Licenses precedence over Category 1
Retail sports wagering at Category 1 operators will be available in the state on the last day of the current month, according to MGC data. Simultaneously, mobile and online sports betting are set to be officially launched in March.
According to Massachusetts General Laws Chapter 23N, the MGC is permitted to grant Category 1 sports wagering licenses to companies who hold a gaming license under MGL Chapter 23K and are interested in providing sports betting.
The same businesses would also be required to completely comply with the MGC’s rules and pay all associated fees.
Category 1 license holders can offer sports betting via two mobile apps and approved digital platforms and must hold a Category 3 license per MGL Chapter 23N.
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