Just last week, Fanatics Holding reinstated its big plans to bring its sports betting platform to several states in the US during the first quarter of 2023. The parent company of Fanatics Betting and Gaming (FBG), Fanatics Commerce, and Fanatics Collectibles expressed its goals during a meeting it held with the Massachusetts regulator for gambling, the Massachusetts Gaming Commission (MGC).
Now, the MGC has announced that it had given a unanimous vote to find Fanatics Betting and Gaming “preliminarily suitable for a Category 3 sports wagering operator license.” The important decision came at the end of MGC’s review of the company’s application for a sports betting license as an operator.
Fanatics Will Present the MGC with an Internal Responsible Gaming Plan
As part of the commissioner’s request, Fanatics will need to approve an internal plan for responsible gaming and also present the plan to the commission before officially launching its sports betting services in the state of Massachusetts.
For the time being, Fanatics is eligible to ask for a temporary license to provide sports wagering to bettors while MGC’s Investigations and Enforcement Bureau will complete its full suitability review.
The category 3 license would be tied to Plainridge Park Casino’s category one license for sports wagering activities.
Once a temporary license would be granted to Fanatics, the company would need to also receive an operations certificate while complying with more requirements. These conditions will all need to be met prior to the sportsbook being allowed to take sports wagers on any approved sporting event.
Temporary Category 3 Licenses, Ahead of Category 1 Licenses
According to data from the MGC, retail sports wagering at operators with a Category 1 license will be launched in the state on the last day of the current month. At the same time, mobile and online sports betting is expected to be officially launched sometime in March.
The Massachusetts General Laws Chapter 23N states that the MGC is allowed to offer Category 1 sports wagering licenses to entities that own a gaming license under MGL Chapter 23K, provided the respective entity would be interested in providing sports betting.
The same entities would also need to fully comply with all the requirements that have been established by the MGC while also covering all associated fees.
Category 1 sports wagering licenses allow holders to offer sports betting services using up to two individually-branded mobile apps and other types of digital platforms that have been given the green light from the commission.
Finally, all platforms need to have the right qualification and hold a Category 3 three sports wagering license in accordance with MGL Chapter 23N.