Massachusetts’ January revenue was a remarkable 17% increase on the previous highest month, set back in May 2023.
Handle fell just 1.1% short of December’s $658.7m record, still accumulating $651.7m in what was another strong month for Massachusetts’ sports betting industry. Tax collected was $5.8m, also 9.4% down on December.
Massachusetts has shown very encouraging growth since sports betting went live on the last day of January 2023. Online continues to perform very strongly, with online wagers accounting for 99.4% of January’s handle.
In terms of casino, Massachusetts produced $93.5m in gross gaming revenue (GGR) for January, 10.1% short of December’s figure of $103m. Encore Boston Harbor continues to lead the way, accumulating $60.9m in table and slot GGR.
DraftKings still the leader in Massachusetts
While DraftKings’ handle of $315.9m was $4.5m short of the $311.4m it accumulated in December, it still remains out in clear at the summit of the Massachusetts’ sports betting market.
FanDuel saw its sports betting handle jump by 3.6% month-on-month to $194m in January. However, it still continues to lag well behind DraftKings, falling $121.9m short of its rival’s January total wagers.
Having launched across 17 US states in November, ESPN Bet continues to make a dent in the Massachusetts market, ranking third in the state for the month with $45.4m in handle. BetMGM and Caesars Sportsbook were fourth and fifth with $36.8m and $22.5m respectively.
Wynn ceases Massachusetts operations
One operator who will not be tapping into Masachusetts’ growing online market will be WynnBet, with Wynn Interactive division of Wynn Resorts ceasing operations of its online gambling brand in the state earlier this week.
Wynn Resorts, however, will continue to operate retail sports betting in the state. Players can continue to wager at the land-based sportsbook and kiosks inside its Encore Boston Harbor casino.
The halting of operations in Massachusetts comes after Wynn Resorts last August set out plans to scale back the brand across the US. Along with Massachusetts, WynnBet will also exit Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia and West Virginia.
The brand will remain active in Nevada, New York and Michigan, though its operations in the two latter of those remain under review.
Original article: https://igamingbusiness.com/finance/massachusetts-smashes-sports-betting-revenue-record-january/
