Massachusetts reports year-on-year sports betting growth in April
Sports betting revenue and handle in Massachusetts both increased year-on-year in April, although the state’s month-on-month performance was mixed, with revenue up but spending down.
Taxable sports betting revenue for the month amounted to $65.9 million. This beat April 2024 by 34.2% and was 25.8% ahead of March this year, official figures from the Massachusetts Gaming Commission showed.
Online betting accounted for $65.5 million of all revenue in April, while retail drew $486,828.
In terms of handle, the monthly total in Massachusetts reached $690.3 million, up 14.4% year-on-year but 4.5% short of April. Players spent $680.5 million betting online and $9.7 million at retail sportsbooks.
As such, statewide hold for the month stood at 9.55%.
No stopping DraftKings in Massachusetts
Looking at online operators, DraftKings remained the state’s runaway leader with $37.8 million in revenue from $343 million in bets. This resulted in a monthly hold of 11.02%.
FanDuel was its closest challenger, earning $17.9 million off $185.9 million for a 9.63% hold. In third was BetMGM with $3.9 million from $55.1 million, leaving a hold of 7.08%.
Other operators of note include Fanatics, which took $3.1 million from $49.3 million for a 6.3% hold. ESPN Bet was the only other brand to exceed the $1 million revenue mark. During April, it generated $1.8 million off a $21.7 million handle, resulting in a 4.61% hold.
As for retail, Encore Boston Harbor led the way with $372,527 off $5 million for a hold of 7.52%. Plainridge Casino Park posted $114,301 from $3.1 million, meaning a 3.65% hold. MGM Springfield failed to report any revenue despite taking $1.6 million in bets.
Mixed month for land-based casinos
Turning to the state’s land-based casino market, the venues’ gaming revenue hit $102.1 million. This was 4.7% more than last year but 2.9% short of March. Revenue from slots topped $71.1 million and table games $31 million.
As was the case with sports betting, Encore Boston Harbor led the way with $63.5 million in revenue. MGM Springfield was second at $23.5 million, then Plainridge Park Casino with $15.1 million.
Tax-wise, the state collected $42.3 million from all legal commercial gambling in March. This included $13.2 million from sports betting and $26.2 million from casino gaming.