Combined taxable online and retail revenue in August reached $33.3m (£25.2m/€29.9m). This is 51.4% more than in Massachusetts last year but 19.2% behind July – and the lowest monthly figure so far this year.
Online betting accounted for $32.9m of all revenue during the month, with retail’s share at just $381,134.
Handle-wise, the $447.3m spent across online and retail was some 42.1% ahead of last year. It is also 8.6% more than the $411.8m wagered on sports in July this year.
Players spent a total of $439.7m betting online during August, in addition to $7.6m at retail sportsbooks across Massachusetts.
In terms of hold, the overall figure for the state’s market in August was 7.71%. Online hold was slightly above this at 7.74%, with retail lower at 6.12%.
DraftKings still the one to beat in Massachusetts
As for individual operators, DraftKings remains the Massachusetts online market leader. For August, it generated $16.2m in revenue from $229.4m in bets, with a hold percentage of 7.33%
However, while FanDuel placed second on revenue terms with $10.7m for the month, it had a higher hold of 9.26%. The operator processed $118.2m in total bets during August.
BetMGM was another stand-out performer, reporting $2.3m in revenue off a $31.1m handle, with a 7.56% hold. Meanwhile, newcomer Bally Bet, which launched in Massachusetts in July, had market-high hold of 9.39%, after reporting $222,372 in revenue off $2.4m in handle.
In terms of retail, Plainridge Park Casino took top spot with $196,980 in revenue from $2.7m in bets. This resulted in a hold of 7.47% for the month.
Casino revenue hits five-month high
Looking now at the Massachusetts land-based casino market, combined table and slots gross gaming revenue (GGR) hit $103.3m. This is 5.5% more than last year, 3.8% ahead of July and the highest monthly total since March.
Slots GGR for August reached $69.0m, with table games GGR amounting to $34.3m.
Encore Boston Harbor remains by far the top casino operator with $64.9m in total revenue for the month. This includes $35.9m from slots and $29.0m table games.
Combined revenue from sports betting and casino gaming in August stood at $136.6m. Tax-wise, overall, the state collected $36.0m, with $6.6m coming from sports wagering and $29.3m casinos.
Original article: https://igamingbusiness.com/sports-betting/massachusetts-sports-betting-revenue-year-low-august/
