Sportsbooks Betr and WynnBET plan to cease operations in Massachusetts this month while Unibet Interactive plans to leave Virginia in April.
After getting approval from the Massachusetts Gaming Commission (MGC) last week, Betr plans to cease operations in Massachusetts on Feb. 16 with WynnBET following Feb. 26.
In Virginia, Unibet Sportsbook informed its customers by email on Monday they plan to exit the commonwealth on April 11. Initially, the Virginia Lottery announced in January Unibet would be leaving the state in March.
“This email is to inform you that Unibet will be exiting the Virginia market on April 11th, 2024,” the company said. “As we approach this date, you can continue to place bets as normal. We are working closely with the Virginia Lottery to secure a smooth and seamless transition for you. Over the coming weeks, we will be sending you updated communications regarding withdrawing your funds and bonus usage.”
Unibet said customers must withdraw any remaining funds in their account by the end of service date April 11.
“This decision was not made lightly, as we have worked hard to bring the best sportsbook gaming experience to our valued players in Virginia,” Unibet said in the email. “Please be assured that our Customer Support team will remain available to assist you during this time of transition.”
Unibet Interactive’s parent company Kindred Group PLC announced last year they plan to leave the overall U.S. and Canadian gambling market. In 2022, Kindred pulled Unibet Sportsbook from Iowa so it could focus on states that provide iGaming (online casinos). That move did not help the company.
Latest Market Share Numbers
Based on the latest Gaming Update from the Virginia Lottery, between January 2023 and November 2023 FanDuel Sportsbook leads the state holding approximately 40% market share ahead of DraftKings Sportsbook with 28%. Unibet held a 0.15% share in the state. The mobile/online sportsbook went live in the Commonwealth in April 2021.
Based in Valletta, Malta, parent company Kindred Group PLC is an online gambling operator with nine brands in the industry, Unibet Interactive sportsbook being one of them. The company said in late 2023 Unibet regained its position as the number one operator in the Netherlands and the company continues to deliver above-market growth in the U.K.
In the meantime, a Massachusetts gaming commission unanimously approved the departure plans for Betr Sportsbook and WynnBET to leave the commonwealth this month. WynnBET has already left Virginia, a plan that started in August. Betr Sportsbook is still available in the Old Dominion.
Growing Tax Revenue Engine
Virginia sports betting market has been nothing but a growing tax revenue engine for the state. Bettors in the state have wagered over $13 billion on sports since it was launched in January 2021. From that $13 billion, the state has received over $143 million in tax payments.
The latest sports wagering activity report from the Virginia Lottery shows sportsbooks handled over $633 million in bets for December 2023 alone, 25.9% higher than last December.
Virginia is currently host to 16 mobile/online sports wagering operators and three retail in-person sportsbooks located in Bristol (Hard Rock Bet), Portsmouth (BetRivers), and Danville (Caesars Sportsbook).
