FanDuel Sportsbook is on its way to obtaining a Massachusetts online sports betting license. The sportsbook received a unanimous thumbs up from the Massachusetts Gaming Commission (MGC) earlier this week. Commissioners agreed during the voting process that FanDuel met or exceeded all the criteria for an untethered Category 3 sports betting license. Untethered mobile operators are not tied to the state’s three casinos, which all have partnerships with mobile operators.
It was smooth sailing for FanDuel during the MGC’s hearing compared to Barstool’s proceedings with the MGC. Those hearing saw the commissioners add strict conditions to the license of FanDuel’s competitor due to ongoing legal issues.
“I have to say so many of mine [questions] were answered by your presentation today,” said Massachusetts Gaming Commission Cathy Judd Stein to FanDuel representatives.
FanDuel Making a Splash Ahead of MA Launch
FanDuel is the industry leader, with 42% of the online sports betting market in the U.S. The company projects that it will add more than $200 million in revenue for Massachusetts in its first five years live in the state. FanDuel CFO David Jennings relayed those figures to the MGC and added that the company would spend about $50 million in marketing during that time and is considering adding an office in the Commonwealth.
The sports betting operator is making headlines ahead of the Super Bowl with its unprecedented plans to include a live ad during the game. The “Kick of Destiny” campaign features four-time Super Bowl Champion Rob Gronkowski and includes a $10 million giveaway. Gronkowski will attempt to kick a field goal, and if successful, fans that placed a bet on the game will earn a share of the $10 million giveaway to be redeemed in bonus bets.
While FanDuel Massachusetts won’t be live in time for fans in state to place a legal mobile bet, the groundbreaking ad’s buzz will help solidify the operator’s brand recognition.
FanDuel launched an online and retail sportsbook in Ohio earlier this month. Once the MGC officially approves its license, Massachusetts will become the 19th state in which the New York City-based sportsbook offers online sports betting. The company has retail sportsbooks in 17 states.
Related news: Betr Passes First Test for MA Online Sportsbook License
The Countdown to MA Online Betting
The MGC began approving sports betting licenses in early December, prioritizing retail sportsbooks at land-based casinos since those venues can begin accepting wagers Jan. 31. Right now, it is looking like sports fans in Massachusetts will be able to bet on Super Bowl LVII in person.
The estimate for mobile sports betting to open in the state is sometime in March. At this time, the MGC has not specified an exact date.
Bally Bet received preliminary approval for its untethered Category 3 license last week. The final votes for approval of online sportsbooks begin Jan. 18. The remaining applicants are Betr, DraftKings, BetFanatics, Betway, and PointsBet.
MGC hearings are public and can be viewed on the MGC’s YouTube channel.
