In Massachusetts, sportsbook revenue hit a six-month low in March despite spending almost reaching record levels.
Last month, taxable sports betting revenue reached $52.1 million, 12.8% up year-on-year, but a significant 20.6% behind the $65.6 million figure secured in February this year.
March’s monthly total works out as the lowest revenue return since October 2024, when $48.3m was recorded.
Figures released this week by the Massachusetts Gaming Commission showed online betting revenue secured $51.9m for the state purse, with the remaining $ 265,536 coming from retail sportsbook betting across the Bay State.
While the revenue returns slumped, the same cannot be said for player spending.
The handle was recorded as $772.5m, beating March 2024 by 20.3% and outpacing February this year by 23%. The upward trend was further reflected as March’s total was the third-highest since Massachusetts commenced legal gambling in January 2023.
The state record for player spending is $788.3m, set in December 2024.
DraftKings remains the dominant operator in the state
In the online operator market in Massachusetts, DraftKings continues to command the biggest slice of the pie.
It secured $28.4m of the online revenue from a $375.2m handle, meaning a hold of 7.57%.
Beyond DraftKings, the nearest contender is FanDuel with a revenue return of $13.8m and a $208.4 handle (6.62% hold), while BetMGM reached $4.1m and a handle of $72.1m (5.69% hold).
The other competitors were as follows:
Fanatics – $2.1m revenue from $48.3m handle for 4.35% hold.
Caesars – $1.7m revenue from $ 26 m handle for 6.49% hold.
ESPN Bet – $1.5m revenue from $26.5m handle for 5.66% hold.
BallyBet – $179,586 revenue from $5.1m handle for 3.49% hold.
Casino betting revenue showed a further slump, with figures from the three land-based venues reaching $105.1m, down 5.4% from March last year.
A further breakdown detailed Slots accounting for $76.6m of revenue, with table games contributing $28.5m.
Overall, the gambling tax recorded in Massachusetts in March reached $40.7m, with $10.1m received from sportsbooks and $30.2m derived from casino venue betting.
Image credit: Ideogram
