Massachusetts sports betting revenue falls to six-month low in March
Taxable sports betting revenue for March in Massachusetts amounted to $52.1 million (£39.1 million/€45.7 million). This was 12.8% ahead of last year but fell 20.6% short of the $65.6 million generated in February this year.
The monthly total is also the lowest since $48.3 million was reported in October 2024.
Data published this week by the Massachusetts Gaming Commission showed online betting generated $51.9 million in revenue. The remaining $265,536 was attributed to wagering at retail sportsbooks across the state.
As for handle, players spent a total of $772.5 million betting on sports in March. This beat last year by 20.3% and was 23% above February. It was also the third-highest monthly total since Massachusetts launched legal betting in January 2023. The state record of $788.3 million was set in December last year.
Consumers wagered $761.8 million online during March and a further $10.6 million at retail locations.
In terms of hold, this amounted to 6.74% for the month.
DraftKings continues to lead in Massachusetts
Looking to operators, there is seemingly no stopping DraftKings. Drawing $28.4 million in online revenue off a $375.2 million handle meant a hold of 7.57%.
FanDuel remains the closest challenger with revenue of $13.8 million and a $208.4 million handle. This resulted in a hold of 6.62%.
Elsewhere, revenue at BetMGM hit $4.1 million and handle $72.1 million, meaning a 5.69% hold. Fanatics posted $2.1 million in revenue off $48.3 million for a 4.35% hold.
Caesars was next with $1.7 million from $26.2 million, leaving a hold of 6.49%. Just behind was ESPN Bet with $1.5 million off $26.5 million for a 5.66% hold. Bally Bet rounded off the online market with $179,586 from $5.1 million, resulting in a 3.49% hold.
As for retail betting, Encore Boston Harbor led the way with $197,219 in revenue from a $5.6 million handle, meaning a 3.49% hold. Plainridge Park Casino took $68,317 off $3.3 million for a 2.05% hold, while MGM Springfield failed to report any revenue despite taking $1.6 million in bets.
Casino revenue dips year-on-year
Aside from sports betting, the report also includes data on land-based casino gambling. For March, revenue from the three casinos hit $105.1 million, down 5.4% year-on-year.
Slots accounted for $76.6 million of revenue, while table games contributed $28.5 million.
Encore Boston Harbor led the way with $53 million in total casino gaming revenue. MGM Springfield placed second with $25.5 million, followed by Plainridge Park Casino at $16.5 million.
Overall gambling tax collected in Massachusetts during March topped $40.7 million. Of this, $10.1 million came from sports betting and $30.2 million from land-based casino gaming.