PointsBet has pulled its Massachusetts online sports betting application and won’t launch a PointsBet Massachusetts app.
That update was revealed during Thursday’s Massachusetts Gaming Commission meeting.
“They are withdrawing from Massachusetts,” MGC Executive Director Karen Wells told her fellow commissioners.
In recent days, news trickled out that PointsBet would not be ready for the launch of Massachusetts sportsbook apps on March 10 — perhaps not even in March at all. Now, the stunning news is out that the fast-rising sportsbook app is withdrawing from Massachusetts entirely.
There are now only 10 sports betting companies approved for online sports betting in Massachusetts:
- Caesars Sportsbook
- Barstool Sportsbook
- Bally Bet (launching May 2023)
- Fanatics Sportsbook (launching May 2023)
- Betway (launching next year)
Bally Bet, Fanatics, Betway will be delayed
It was also revealed during Thursday’s MGC meeting that Bally Bet and Fanatics Sportsbook will launch in May, and Betway won’t launch until 2024. There are no issues with the companies. They’re just not ready to launch yet.
PointsBet is currently live in 13 states, with its most recent launch coming in Maryland in November. The Australian company’s decision to withdraw from Massachusetts comes as a surprise, considering that, without BetRivers to compete with, PointsBet could have carved a significant market share outside the top four of DraftKings, FanDuel, BetMGM and Caesars Sportsbook.
Impact of PointsBet pulling out of Massachusetts
With PointsBet and BetRivers not launching in Massachusetts, DraftKings, FanDuel, BetMGM and Caesars Sportsbook should have a greater monopoly on the MA sports betting market than originally anticipated. WynnBET and Barstool Sportsbook will get some local traction due to loyalty programs tied to their retail casino sportsbooks at Encore Boston Harbor and Plainridge Park Casino. But their market share will likely pale in comparison to the big four.
Massachusetts will launch online sports betting at 10 a.m. on March 10. It has had legal retail sports betting at its three casinos — EBH, PPC and MGM Springfield — since Jan. 31.