MGM’s sportsbook approval in Massachusetts gives impetus to 2023 (NYSE:MGM)
BetMGM’s approved online betting in Massachusetts is a sign of things to come, according to Max Bichsel, Sports Vice President of Gambling.com Group (GAME).
Bischel told Seeking Alpha that the approval in Massachusetts represents an important step both in terms of the addressable market in the state and its potential for efficient and effective regulation. If possible, the many states that have not yet approved online sports betting could model the next law on the policies pursued by the Bay State.
“As we look at 2023, we will launch the Ohio market on January 1 and Massachusetts at the end of the first half of the year because the exact date has not been specified,” explains Bischel. “Beyond that, we expect states like North Carolina, Georgia, and Missouri to move quickly through the legislative process to facilitate a proper market launch by the end of 2023, preferably by the end of 2023. before the football season begins. In addition, there are also discussions about Indiana regulating online casinos. This will represent a strong windfall for the industry.”
For MGM International (NYSE:MGM) Especially BetMGM, licensing is an important step to catch up with major competitors DraftKings (DK) and Flutter Entertainment’s (OTCPK: PDYPY) FanDuel.
Bischel told Seeking Alpha: “DraftKings and Fanduel have a significant head start thanks to their fantasy origins and existing player database. “However, BetMGM has closed the gap and transformed itself from a challenger brand into a real threat in dethroning FanDuel and DraftKings as leaders in sports betting across the US. Ky.”
Read more about Caesars Sportsbook launches sports microbetting in select states.