The Commission is currently accepting public comment on 205 CMR 238.12 regarding Letter of Credit Requirements.

As a sports wagering account holder, your current wagers are protected by a letter of credit in the event of an operator’s bankruptcy; however, your account funds are not. The Commission is requesting public comments on whether patrons would prefer the Commission mandate that operators’ letters of credit:

1. Cover money being wagered and money held in sports wagering accounts; OR
2. Cover only money held in sports wagering accounts and not current wagers; OR
3. Remain unchanged, and continue to cover only current wagers

Please note that such protections would only be triggered in the event of an Operator’s bankruptcy and the lack of available cash on hand to cover these amounts.

Relevant documents can be found here:

• 205 CMR 238.12 Memo
• 205 CMR 238.12 (9.16.24 Option 2) (1646052.1)
• 205 CMR 238.12 (9.16.24 Option 3) (1646053.1)

• To contact the Massachusetts Gaming Commission, check out our Contact page, or email mgccomments@massgaming.gov