Massachusetts reports year-on-year sports betting growth in April
Online betting generated an impressive $65.5 million of the total sports wagering revenue in Massachusetts for April.
In the competitive landscape of the gambling sector, Massachusetts saw a notable year-on-year increase in both sports betting revenue and handle for April. While the statewide revenue surged, month-on-month figures present a more nuanced story, exhibiting revenue growth alongside a slight decline in spending.
According to the Massachusetts Gaming Commission, taxable sports betting revenue reached $65.9 million in April, representing a remarkable 34.2% increase over April 2024 and a 25.8% leap from March of this year.
Online betting dominated this month’s figures, contributing $65.5 million, while retail sportsbooks generated a modest $486,828.
The total betting handle for the month in Massachusetts reached $690.3 million. This was a 14.4% increase year-on-year but fell short by 4.5% compared to March. Players placed $680.5 million in bets online, with retail sportsbooks accounting for $9.7 million.
This resulted in a statewide hold of 9.55% for the month, a key indicator for the industry’s health.
Unstoppable Momentum for DraftKings
Diving into the performance of individual online operators, DraftKings maintained its dominance in Massachusetts, recording an impressive $37.8 million in revenue from $343 million in bets, yielding a monthly hold of 11.02%.
FanDuel followed as its closest competitor, generating $17.9 million from a total of $185.9 million in bets, leading to a hold of 9.63%. BetMGM claimed a third-place position with $3.9 million derived from $55.1 million in bets, resulting in a 7.08% hold.
Noteworthy performances by other operators include Fanatics, which captured $3.1 million from $49.3 million in bets for a 6.3% hold. ESPN Bet also stood out, generating $1.8 million from a $21.7 million handle, marking a hold of 4.61%.
On the retail front, Encore Boston Harbor led the pack, earning $372,527 from $5 million for a hold of 7.52%. Plainridge Casino Park followed with $114,301 from $3.1 million, equating to a 3.65% hold. However, MGM Springfield reported no revenue despite recording $1.6 million in bets.
Mixed Performance for Land-Based Casinos
Turning our attention to the land-based casino sector, gaming revenue reached $102.1 million in April. This figure represents a 4.7% increase year-on-year but is 2.9% lower compared to March. Slot machine revenues led the charge with over $71.1 million, while table games added $31 million to the total.
Encore Boston Harbor outperformed its competitors in the casino space, generating $63.5 million. MGM Springfield followed with $23.5 million, while Plainridge Park Casino closed the competitive landscape at $15.1 million.
From a taxation perspective, Massachusetts collected $42.3 million from all legal commercial gambling activities in March. This tax revenue included $13.2 million from sports betting and $26.2 million accrued from casino gaming, underscoring the state’s profitable engagement with the gaming industry.
