State regulators on Friday kicked off their review of untethered online MA sports betting applicants by hearing from Bally Bet.
Bally Bet, Betr, Betway, DraftKings, FanDuel and PointsBet make up the six operators seeking a Category 3 Massachusetts sports betting license.
The MA Gaming Commission will hear from one operator each day before going through a follow-up review and then voting on all of them Jan. 18-19.
Legal online sports betting is expected to launch in MA in early March, prior to the start of the NCAA Tournament.
Bally’s in MA sports betting
Bally’s presentation was led by COO Adi Dhandhania. An IEB review of Bally’s found no substantial deficiencies.
MGC sought further intel on a pair of self-exclusion violations in Indiana and Arizona. The regulator was satisfied by the answers it received during Friday’s public hearing.
The parties only needed executive session to further discuss financial projections.
MGC wants more info from Bally’s
Bally’s will need to provide supplemental materials on responsible gaming and diversity.
Commissioner Bradford Hill believed the application was “lacking” in local community involvement. Dhandhania’s explanation of what they’ve done in other jurisdictions appeared to appease the commission, with a more detailed plan on the way.
MGC focus on RG advertising
At one point, Commissioner Eileen O’Brien expressed concern about overall sportsbook advertising on public transit, noting many kids use it in Boston.
Hill mentioned meeting with ‘T’ subway officials about potentially limiting when that advertising would be shown.
Dhandhania agreed to put RG messaging on billboards, including those directing Commonwealth residents to Bally’s casino in Rhode Island.
MA sports wagering revenue potential
RSM, a Massachusetts audit, tax and consulting firm, produced a third-party report detailing the potential for sports wagering.
According to Deutsche Bank, the total estimated gross gaming revenue (retail and online) for MA in 2023 is $306.6 million. That figure could climb to $408.8 million by 2027, Deutsche Bank’s projection said.
Truist Securities projected a total estimated GGR of $83.4 million in 2023. The thought was that figure was based on the Commonwealth not launching online sports betting until late 2023.
Truist believed the total GGR potential for MA in 2027 was $639 million.
Rep. Jerry Parisella told the Boston Herald that legalizing sports betting in MA could mean $70 million annually in revenue for the state.