Betr Sportsbook officially ceased its operations in the state of Massachusetts on February 21st, shutting down its website and mobile app.
The departure leaves Massachusetts bettors with limited options for online sports betting. This development comes shortly after another major sportsbook, WynnBET, announced it was leaving the Massachusetts market. With Betr and WynnBET exiting the scene, the number of online sportsbooks available to Massachusetts residents has dwindled to six.
Betr entered the Massachusetts sports betting market in May 2023, just a couple of months after online sports betting was legalized in the state. However, despite its initial aspirations, Betr struggled to gain traction among bettors and failed to generate significant revenue. In a little over nine months, the sportsbook managed less than $200,000 in revenue, placing it at the bottom of the rankings in Massachusetts. In contrast, industry giants like DraftKings and FanDuel amassed more than $325 million in revenue from sports betting activities in the commonwealth.
The Massachusetts Gaming Commission (MGC) voted unanimously to approve the cessation of operations for Betr. Prior to the closure, Betr was required to communicate with its customers and provide guidance on withdrawing any remaining funds from their accounts. The sportsbook stopped accepting bets a week before the official shutdown and was subsequently blocked from use within the state a week before it officially closed.
MGC Chair Cathy Judd-Stein expressed gratitude towards Betr for its services in the Massachusetts market, acknowledging the company’s efforts to provide consumer choice and innovation.
Similarly, WynnBET ceased accepting new wagers via its mobile app and website in Massachusetts on Friday, February 23, following a formal request submitted to the MGC.o
As with Betr, WynnBET has been mandated by the commission to offer refunds and settlements for outstanding bets to its customers. Active account holders have also been notified regarding the withdrawal process to ensure a smooth transition. WynnBET’s decision to scale back its online gaming operations across the United States reflects a strategic shift towards focusing on its brick-and-mortar casino business.
One factor that may have contributed to Betr and WynnBET’s struggles in Massachusetts is the high cost of customer acquisition. In an attempt to gain market share, sportsbooks often employ various promotional strategies, such as special offers and bonuses. However, the expenses associated with these promotions can be substantial and potentially outweigh the revenue generated, particularly in a competitive market like Massachusetts.
