Massachusetts Sports Betting Revenue Record Broken in January

Details: Category: Gambling Industry; Created: Saturday, 17 February 2024 10:37

Massachusetts sports betting revenue increased 17 percent in January compared to the previous month. Also, it broke the record set in May 2023. However, the betting handle dropped 1.1 percent from December’s $658.7 million. Sports betting operators paid $5.8 million in taxes, down from 9.4 percent in December.

Since the launch of sports betting on the final day of January 2023, Massachusetts has seen quite encouraging development. According to bookie pay per head reports, bets placed online accounted for 99.4 percent of January's handle, demonstrating the continued high performance of online.

For January, Massachusetts's casinos brought in $93.5 million in GGR, down 10.1% from December's total of $103 million. The leader, Encore Boston Harbor, has amassed $60.9 million in gross gaming revenue (GGR) from tables and slots.

Even though DraftKings' $315.9 million handle was $4.5 million lower than the $311.4 million it earned in December. According to pay per head sources, it is still clearly Massachusetts's leading sports betting market.

Massachusetts Sports Betting Revenue

FanDuel's sports betting volume increased by 3.6% month-over-month, reaching $194 million in January. Still, it is a long way behind DraftKings, with a total wager in January that was $121.9 million lower.

With $45.4 million in handling, ESPN Bet ranks third in Massachusetts for the month, continuing its impact after launching throughout 17 US states in November. With $36.8 million and $22.5 million, respectively, BetMGM and Caesars Sportsbook ranked fourth and fifth.

With the recent announcement that WynnBet, an online gaming brand of Wynn Resorts, will no longer operate in Massachusetts, Wynn Interactive, a branch of Wynn Resorts, will not participate in the state's expanding online market.

Nonetheless, Wynn Resorts will still run retail sports betting throughout the state. The Encore Boston Harbor casino's land-based sportsbook and betting kiosks will remain open for business.

Following last August's announcement of plans to scale back the brand across the US, activities in Massachusetts have been halted. Will WynnBet be leaving Massachusetts, Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia, and West Virginia? According to gambling industry reports, the brand's activities in Michigan and New York are now being reviewed. However, it will continue to operate in Nevada and New York.

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