The December total surpasses the existing state record of $777.8 million in November by 1.4%. It is also 19.7% more than the $658.7 million bet in Massachusetts in December of 2023.
Massachusetts Gaming Commission data shows online betting spend for the month was $776.8 million. Retail sportsbooks across the state took a total of $11.5 million in bets.
As for revenue, however, total taxable gaming revenue declined 5.1% year-on-year to $57.5 million. This is also 28.6% lower than November’s record $80.5 million haul. The decline comes in the wake of customer-friendly sports results that impacted the entire industry in December.
Online betting was responsible for almost all revenue in December, generating $57.4 million. In contrast, just $64,037 came from retail wagering.
In terms of hold, the monthly figure for Massachusetts stands at 7.29%. Online hold reached 7.39% and retail just 0.56%.
DraftKings remains the runaway leader in Massachusetts
Looking to individual operators, DraftKings continues to lead the online market by a clear distance. In December, it took $29.6 million in revenue from $364.6 million in wagers for an 8.12% hold.
FanDuel is the closest challenger with revenue of $18.8 million off a $241.5 million handle, leaving a 7.78% hold. BetMGM again took third with $4.0 million in revenue from $65.1 million in bets for a 6.14% hold.
Fanatics Sportsbook continues to grow its presence in the state, earning $2.5 million in revenue off $46.9 million handle for a 5.33% hold. ESPN Bet followed with $1.1 million in revenue from $29.8 million in handle, resulting in a 3.69% hold.
Caesars Sportsbook posted $1.0 million revenue off $24.4 million in bets, meaning a 4.10% hold. Bally Bet again rounded off the online sector with $348,895 in revenue from $4.5 million in bets for a 7.71% hold.
In terms of retail betting, Plainridge Park Casino (Penn Entertainment) was the only location to post positive revenue. The casino reported $64,037 off a $4.3 million handle for a hold of 1.49%.
Encore Boston Harbor had the largest in-person handle at $6.1 million but did not see any revenue, while MGM Springfield also failed to report revenue despite processing $1.1 million in bets.
Casino revenue edged up month-on-month
On the subject of land-based activity, the Massachusetts regulator also published details on casino performance in December.
Gross gaming revenue from slots and table games amounted to $102.2 million. This is 0.9% behind the previous year but 1.3% higher month-on-month. Slots were responsible for $70.1 million of this total and table games $32.1 million.
Encore Boston Harbor was again the most successful casino, taking $64.9 million in revenue in December. Casino games revenue at MGM Springfield hit $22.7 million while Plainridge Park Casino posted $14.6 million.
Tax-wise, sports betting generated $11.5 million for the state, with almost all this coming from online wagering. Casino gaming tax totalled $29.0 million for the month.
Original article: https://igamingbusiness.com/sports-betting/massachusetts-sports-betting-handle-record-december/
