Fanatics Suitable for Category 3 License in Massachusetts

Just the week before last, Fanatics Holding reaffirmed its ambitious plans to roll out its betting on sports platforms across multiple states in the United States during the first three months of 2023. During a meeting with the Massachusetts Gaming Commission, the parent company of Fanatics Betting and Gaming (FBG), Fanatics Commerce, and Fanatics Collectibles presented the objectives it intends to accomplish (MGC).

The MGC has announced that it had given a unanimous vote to find Fanatics Betting and Gaming “preliminarily suitable for a Category 3 sports wagering operator licence.” After completing MGC’s review of the company’s application for a sports betting license as an operator, the organization reached a critical decision.

Fanatics Will Present the MGC with an Internal Responsible Gaming Plan

The previous week, Fanatics Holding reaffirmed its ambitious plans to roll out its betting on sports platforms across multiple states in the United States during the first three months of 2023. The parent company of Fanatics Betting and Gaming (FBG), Fanatics Commerce, and Fanatics Collectibles recently presented the goals that it intends to achieve during a meeting that was held with the Massachusetts Gaming Commission (MGC).

The MGC has announced that it had unanimously voted to find Fanatics Betting and Gaming to be “preliminarily suitable for a Category 3 sports wagering operator licence.” After the MGC finished analyzing the company’s application for a sports betting license as an operator, the organization made a significant decision.

Temporary Category 3 Licenses, Ahead of Category 1 Licenses

According to MGC data, retail sportsbooks at Tier 1 licensed operators will be introduced in the state on the last day of the current month. At the same time, online and mobile sports betting is expected to be officially launched sometime in March. Chapter 23N of the Massachusetts General Laws provides that the MGC may offer Category 1 sports betting licenses to entities holding a gaming license under MGL Chapter 23K, provided that such entity is interested in providing sports betting. The same companies would also have to follow the rules set by the MGC and pay any fees that come with them. 

Category 1 sports betting licenses allow holders to offer sports betting services using up to two individually branded mobile applications and other digital platforms that have received the green light from the Commission.

Finally, all platforms must be rated appropriately and hold a category three sports betting license under MGL Chapter 23N.