Bet365 Seeks License To Operate In Massachusetts As Mobile Spots Remain
A request by Bet365 to operate in Massachusetts has pushed regulators to reopen the state’s sports betting license application process. A Bet365 Massachusetts license could reshape the competitive landscape in one of the nation’s most mature wagering markets.
The Massachusetts Gaming Commission, on Thursday, voted 5-0 to allow Bet365, a U.K.-based, privately held operator, and any other operator to apply for a license in the Commonwealth.
The Bet365 Massachusetts license request centers on a key reality: Massachusetts still has room for additional operators. It could also be seen as a sign that the platform expects iGaming to be launched in the Commonwealth sooner rather than later. Several recent iGaming proposals in the legislature have limited potential licensees to those already operating in the state.
Representatives from bet365 had yet to comment following a request from bookies.com
There are currently four available licenses for untethered, fully mobile sportsbooks — the most valuable category in the market. Existing operators in that tier include DraftKings, FanDuel, and Bally Bet.
That leaves a potential opening for a Bet365 Massachusetts license as well as a door for other operators to enter the state.
"We have a business that wants to do business in Massachusetts," MGC Chair Jordan Maynard said during Thursday's meeting. "Let's see what the interest is," Maynard said. "Someone wants to enter the legal market at a time when these so-called prediction markets are out there offering products we would never allow to be offered, so that does hearten me."
Sports Betting License Types
Statutory limits, current availability, and licensed operators by category.
| License Type | Max Allowed | # Available | Licensed Operators |
|---|---|---|---|
Category 1 Retail at casino | 4 | 1 | EBH MGM PPC |
Category 2 Retail at racing | 3 2 | 3 | N/A |
Category 3 Mobile tethered to racing | 3 | 3 | N/A |
Category 3 Mobile tethered to casino | 6 | 2 | Fanatics PSI BetMGM Caesars |
Category 3 Fully mobile / untethered | 7 | 4 | DraftKings FanDuel BallyBet |
1 One license currently available under Category 1 (retail at casino). 2 Category 2 maximum set by statute.
Winners, Losers If Bet365 Enters Massachusetts
Massachusetts launched retail and online betting in 2023. Some operators have since come and gone in the Bay State, including WynnBet and Betr. Initially, 39 operators expressed interest in launching in Massachusetts during the first review period in 2022-23.
If Bet365 lands one of Massachusetts’ four remaining untethered mobile licenses, the impact won’t be subtle — even in a market already dominated by DraftKings and FanDuel.
Massachusetts is big enough to matter. The state has been generating roughly $75 million to $85 million in monthly sports betting revenue, putting annual gross revenue at $900 million or more at its current pace. At a 20% mobile tax rate, that’s one of the most valuable regulatory frameworks in the country.
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The Winners
- Bet365 – A Massachusetts license would give the global operator a foothold in a high-value, high-visibility U.S. market where it has the product depth to compete immediately. This would also give bet365 an important foothold in the state if Massachusetts legalizes iGaming.
- Massachusetts Gaming Commission – More operators means more tax revenue and increased competition, which typically leads to better pricing and promos for bettors.
- Bettors – Expect sharper odds, more aggressive bonuses and a deeper menu of markets as another serious operator enters the mix.
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The Losers
- Smaller/Struggling Books – Any operator already on the fringes of the Massachusetts market risks becoming irrelevant if another global brand enters.
- Opponents of Sports Betting - Those opposed to the current situation would have one more target.
- The Middle Tier – This is where the real pressure hits. Operators like BetMGM, Caesars, Fanatics, theScoreBet, and Bally Bet are the most likely to feel the squeeze. Bet365’s typical path in U.S. markets has been to jump directly into that second tier — and push someone else down.
- Promotional Margins – More competition almost always means higher customer acquisition costs. Operators already fighting for a share could be forced to spend more to defend it.
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How Does Bet365 Fit In Massachusetts
Based on its performance in newer U.S. markets, Bet365 wouldn’t be entering as a fringe player. A realistic first-year range would look like:
- 3%–5% market share in a conservative rollout
- 6%–8% share if it pushes aggressively with promos and pricing
- 10%+ only if it meaningfully disrupts the mid-tier
That translates to roughly $300M–$600M in annual handle on the low end, with upside closer to $700M–$900M if it gains traction quickly.
From a revenue standpoint, that’s about $25M–$50M annually, and $5M–$10M in new tax revenue for the state.
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Why This Matters
Massachusetts is already one of the most competitive — and lucrative — sports betting markets in the U.S. But the potential addition of Bet365 would raise the stakes.
Bet365 has been aggressive in expanding its U.S. footprint, often entering markets with strong pricing and promotional strategies designed to compete directly with industry leaders.
A reopened licensing window could also attract additional global operators looking for a foothold in a high-value state. Especially those who want to be in the room where it happens if Massachusetts adds iGaming.
For regulators, the decision is less about one company and more about whether the market should expand further — and how to fairly allocate the remaining licenses if demand exceeds supply.
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The Bottom Line
Bet365 probably isn’t walking into Massachusetts and knocking DraftKings or FanDuel off the top overnight.
But it doesn’t have to.
If it performs the way it has in other U.S. states, Bet365’s entry would tighten the market everywhere else — turning the battle for third place into one of the most competitive fights in any legal betting state. And it enters Massachusetts as an established player in the lucrative iGaming space at a time when legislators on Beacon Hill are considering taking that big step. Maybe not this year. But perhaps soon.
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