Sports wagering revenue in Massachusetts dropped by 16.6% year-on-year in April, amounting to $49.1 million despite a rise in player spending.
Revenue was $9.8 million lower than the $58.9 million posted in April 2023, the first full month of legal online sports betting in the state. However, April’s total marked a 6.3% increase from $46.2 million in March 2024.
Online betting dominated the market, generating $49.4 million in revenue. Retail betting, however, recorded a loss of $256,593, pulling down the overall total.
Players in Massachusetts wagered $603.3 million on sports in April, up 4.1% from last year but 6.1% less than the $642.3 million bet in March. Online wagers accounted for $591.5 million of the total, while $11.7 million was bet at retail sportsbooks.
Among individual operators, DraftKings led with $24.5 million in revenue from $304.1 million in total wagers. FanDuel followed with $20.1 million in revenue from $176.3 million in bets. BetMGM was a distant third, with $2.5 million in revenue from $40.4 million in wagers.
Other notable performers included ESPN Bet with $1.8 million, Fanatics with $1.2 million, and Caesars with $712,756 in revenue.
In the retail sector, Encore Boston Harbor was the most successful, with $161,126 in revenue from $5.2 million in wagers. Plainridge Park Casino reported $149,405 from $4.6 million in bets. Conversely, MGM Springfield posted a $537,772 loss from $1.9 million in bets, contributing to the overall retail betting deficit.
Casino sector also sees drop
Massachusetts’ casino market also saw a downturn, with revenue dropping 3.7% year-on-year to $97.5 million in April, down $12.2 million from March. Slots contributed $65.9 million to the total, while table games generated $31.6 million.
Encore Boston Harbor led the casino sector with $60.9 million in revenue, followed by MGM Springfield with $22.8 million, and Plainridge Park Casino with $13.8 million.
Total gambling revenue in Massachusetts for April reached $146.6 million. The state collected $9.9 million in taxes from sports betting and $27.7 million from casino gaming, totaling $37.6 million in tax revenue.
Original article: https://www.yogonet.com/international/noticias/2024/05/17/72214-massachusetts-sports-betting-revenue-down-166-in-april-despite-increased-player-spending
