Massachusetts: WynnBet Receives Betting Licenses Approval 

 Massachusetts: WynnBet Receives Betting Licenses Approval 

Wynn Resorts

Following the repeal of PASPA in 2018, statewide expansion of sports betting began. More than thirty states in the United States have legalized and implemented the activity, while in five states, it is legal but not operational. 

In August of this year, Massachusetts legalized sports betting, but the launch date has yet to be determined. Nonetheless, the state’s regulatory body issued the first conditional approval for a sports betting license this past week.

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WynnBET Receives Conditional Sports Betting License Approval

The Massachusetts Gaming Commission conditionally approved WynnBET’s application for a temporary online sports betting license in Massachusetts. 

This development represents a significant step towards establishing a robust, regulated sports betting market in Massachusetts.

The decision of the Massachusetts Gaming Commission follows a public hearing. The Commission explained that “WynnBet would be tied to Encore Boston Harbor,” a property that was recently granted a license for Category 1 sports betting. 

In fact, Encore Boston Harbor is the only venue in Massachusetts to have received approval for a retail sportsbook. According to a statement released by WynnBET, the company has been conditionally approved to apply for a temporary online sports betting license in Massachusetts.

Framework for the Taxation of Free Bets in Limbo

In addition to the conditional approval for a temporary online sports betting license, the gambling watchdog earlier this week discussed another matter. 

On Monday, the Massachusetts regulator raised the issue of taxing promotional betting offers, such as receiving up to $100 for a losing first wager. In an effort to acquire new customers, sportsbooks in other states provide such promotions. In addition, these bonuses and sign-up incentives aid in player retention and acquisition.

Attracting Customers in the Market 

Nonetheless, the taxation of free wagers is currently uncertain, at least in Massachusetts. According to a report released by the State House News Service, upon discussing the taxation of promotional play credits, the gambling regulator did not come to a conclusion on Monday this week.

The gaming watchdog acknowledged that such offers help attract customers but also noted that their taxation plays an important part. The report stated, “Whether some or all of the $1,000 that FanDuel would give a player to bet with them is counted as part of the company’s taxable revenue base has significant tax revenue implications for the state and profit implications for operators.” 

While the recent discussion did not come to a conclusion about the tax on free bets, it also did not pin down a date when the debate will continue.

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About Lou De Aguila

Lou Aguila is a news and feature writer for Golden Casino News. For over a decade, Lou has published news and featured articles for some of the most reputable sports betting and online casino sites in the world, including BetNow.UK, VegasOdds, and BWin. Apart from being a hardcore live casino punter, he also covers sports stories in North American leagues from time to time.