Two sportsbooks operating in Massachusetts have begun the process of folding their operations in the state.
Betr — co-owned by much-maligned social media influencer Jake Paul — and WynnBet have requested permission from the Massachusetts Gaming Commission to exit the state, according to documents.
Once finalized, that would leave just six sportsbooks in Massachusetts — naturally, those being the six largest sportsbooks in the country: FanDuel, DraftKings, Caesars, BetMGM,ESPN Bet and Fanatics.
The state launched sports betting only less than a year ago. The moves are indicative of the steep road ahead upstart sports betting companies face in their rat race against market leaders FanDuel and DraftKings.
The news could bode poorly for gaming advocates who believe that the conglomeration of the industry would have drastically negative consequences for consumers. The fewer sports betting companies there are, the worse consumer prices are going to be for lines and promotions. In turn, operators will continue to rake even more money from the average sports bettor, so the argument goes.
Betr will now only operate as a sportsbook in Virginia and Ohio, where it consistently ranks last in handle out of all legal sportsbooks.
Meanwhile, WynnBet will now only have operations in Michigan, Arizona and New York. In all, Wynn has now pulled out of operations in Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia, West Virginia and Massachusetts in less than a calendar year.
