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Betr, WynnBet Ceasing Sports Wagering Operations in Massachusetts

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A pair of Massachusetts Category 3 Sports Wagering Licensees are ceasing operations in Massachusetts: Betr and WynnBet.

Betr official ceased operations in the Commonwealth at 11:59 p.m. EST on Friday, February 16. The Mass Gaming Commission (MGC) approved Betr’s cessation request during a public meeting on Wednesday, February 21, 2024, in accordance with Commission regulations.

Betr customers will be able to withdraw funds from their accounts until March 16, 2024. Following that date, Betr will send checks to Massachusetts customers who have not withdrawn their funds. Those checks will be sent to the last physical address the company has on file.

The MGC awarded Betr a one-year, untethered Category 3 Sports Wagering Operator License on February 23, 2023. The company opened its Massachusetts sportsbook on April 25, 2023.

WynnBet is currently in the process of ceasing operations in the Commonwealth, in pursuance with Commission regulations. They are also planning to close sportsbooks in seven other states.

“For commercial reasons, WynnBET has decided to shut down mobile sports betting operations in Massachusetts. However, retail sports betting will continue to be offered by our related company at the sports book [sic] and kiosks located at Encore Boston Harbor,” the company wrote on their Massachusetts FAQs webpage.

Customers’ betting history will be accessible in their accounts until March 12. Similarly, future wagers that settle ahead of WynnBets’ close date will be settled as normal, while customers with bets that settle after that date will be contacted by WynnBet directly. Betr does not offer any future wagers at their sportsbook.

The MGC awarded WynnBet a one-year Category 3 Sports Wagering Operator License on February 23, 2023. Their license is tethered to Wynn MA LLC d/b/a Encore Boston Harbor. The company opened its Massachusetts sportsbook on March 10, 2023.

Alex Kuwada

Betr Elevates Key Leadership with Promotion of Alex Ursa to Chief Operating Officer, Alex Kuwada to Chief Marketing Officer, and Mike Denevi to Chief Content Officer

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Betr, the company behind the world’s first real money gaming super app, announced the promotions of Alex Ursa to Chief Operating Officer, Alex Kuwada to Chief Marketing Officer, and Mike Denevi to Chief Content Officer.

Alex Ursa, the first employee hired at Betr, has been promoted to COO after serving as a foundational pillar of the business since its inception over four years ago. Ursa has played a critical role in building the product and business from the ground up. In his new role, he will lead product development and operations, overseeing the continued development and expansion of the industry’s first super app. Prior to Betr, Ursa spent eight years across the Flutter organization, most recently as Senior Product Director at FanDuel.

Alex Kuwada has been promoted to CMO after joining the company two years ago. During his tenure, Kuwada has transformed Betr’s marketing function and unit economics into a primary competitive advantage while serving as a key commercial leader. As CMO, he will lead acquisition, retention, VIP, and other key commercial functions. Prior to Betr, Kuwada spent six years at FanDuel, where he was most recently Senior Director of Growth.

Mike Denevi, the second employee hired at Betr, has been promoted to CCO after serving as Head of Media for over four years. Denevi will continue overseeing content and brand strategy for Betr, which has become the most followed real money gaming brand in the world on social media. Prior to Betr, Denevi spent over ten years at Bleacher Report, where he was most recently Director of Brand Strategy.

“Alex Ursa and Mike Denevi are the first two people I hired at Betr – and I am thrilled to promote them to COO and CCO respectively, along with promoting Alex Kuwada to CMO. Alex Ursa is overseeing one of the most impressive product development feats in industry history – the development of a super app spanning several real money gaming products and prediction markets across one app and one wallet experience. Alex Kuwada is successfully building a paid-organic marketing hybrid growth engine that has yielded the best unit economics in the industry. And Mike Denevi is overseeing the development of one of the strongest, most differentiated brands in the industry – that is also now the most followed. We would not be where we are today without these three executives and I am thrilled to continue scaling Betr into a category defining business with them,” said Joey Levy, Founder and CEO of Betr.

Betr operates Betr Picks, Betr Social Sportsbook, Betr Social Casino, and Betr Arcade in the majority of the country, and holds gaming licenses nationwide and has been publicly commended by the regulatory community for being a leader in responsible gaming. Betr is poised to launch its prediction markets product later in 2026, which will be available within the same single app experience as the company’s other products.

The post Betr Elevates Key Leadership with Promotion of Alex Ursa to Chief Operating Officer, Alex Kuwada to Chief Marketing Officer, and Mike Denevi to Chief Content Officer appeared first on Americas iGaming & Sports Betting News.

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Acquisitions/Merger

Betr Acquires NFA-Registered Broker Ascent Capital Management to Accelerate Launch of Prediction Markets

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Betr, the company behind the world’s first real money gaming super app, announced it has acquired Ascent Capital Management Inc., securing National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC) registration to advance the launch of prediction markets within the Betr super app.

Through the acquisition, Betr becomes a CFTC-registered introducing broker, representing a major milestone in the company’s continued expansion into regulated prediction markets. The transaction allows Betr to accelerate the company’s plans to launch prediction markets powered by Polymarket directly within the Betr super app.

Beginning later this year, Betr plans to make event contracts across sports, politics, culture, and more available to its over one million nationwide paying users through the same seamless experience as Picks, Sportsbook, Casino, and Arcade, all integrated within one wallet and one app.

“Prediction markets represent one of the most exciting evolutions in interactive entertainment and financial technology. Since starting Betr, we have built our business entirely around serving the modern sports fan at scale. This acquisition is another step toward our vision of creating the first true nationwide real-money gaming app. By securing IB registration through the acquisition of an established broker, we can now focus entirely on launching a seamless, compliant prediction markets experience powered by Polymarket. Our users will soon be able to engage with Picks, Sportsbook, Casino, Arcade, and Predictions all within a single integrated ecosystem,” said Joey Levy, Founder and CEO of Betr.

Ascent Capital Management Inc. has been registered as an introducing broker since 2011 and brings established compliance infrastructure that will support Betr’s expansion into the rapidly growing prediction markets category while maintaining strong standards around regulatory compliance and user protection.

The post Betr Acquires NFA-Registered Broker Ascent Capital Management to Accelerate Launch of Prediction Markets appeared first on Americas iGaming & Sports Betting News.

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Betr and Polymarket Announce Multi-year Partnership

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Betr, the company behind the world’s first real money gaming super app, and Polymarket, the world’s largest prediction market, announced a multi-year partnership to bring prediction markets to Betr users nationwide. Beginning in 2026, Betr will launch prediction markets powered by Polymarket directly within the Betr super app, making events contracts across sports, politics, culture, and more available to one million paying users.

“Since starting Betr, we have built our business entirely around serving the modern sports fan at scale. Launching Predictions is an important step toward our vision of creating the first true nationwide real-money gaming and financial super app, integrating a category projected to reach $1 trillion in annual volume into the same seamless experience as Picks, Sportsbook, Casino, and Arcade. There is no better partner than Polymarket to power this expansion, given their category leadership and deep connectivity across the sports ecosystem,” said Joey Levy, Founder and CEO of Betr.

“Prediction markets are becoming a foundational tool for understanding the future, and scale is what brings them into the mainstream. Betr has built one of the most engaged sports audiences in the country, and their ability to engage millions of users makes them the ideal partner to bring prediction markets to a massive new audience. This partnership allows us to scale our infrastructure and continue bringing the power of prediction markets into the daily experience of sports fans across the country,” said Shayne Coplan, Founder and CEO of Polymarket.

Betr already operates Betr Picks, Betr Social Sportsbook, Betr Social Casino, and Betr Arcade in the majority of the country, and holds gaming licenses nationwide and has been publicly commended by the regulatory community for being a leader in responsible gaming. Betr’s prediction markets product will be available within the same single app experience as the company’s other products.

The post Betr and Polymarket Announce Multi-year Partnership appeared first on Americas iGaming & Sports Betting News.

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