According to the latest data from the Massachusetts Gaming Commission, the total revenue from sports betting in the state reached $545.3 million in August 2023, showing a significant increase from the same period last year. This data reflects the ongoing active state of the sports betting market in Massachusetts and the increased participation of consumers.
Overall Market Performance
In August 2023, the total amount wagered on sports betting in Massachusetts reached $545.3 million, a year-over-year increase of 21.9% and a month-over-month increase of 11.4%. The taxable revenue from betting was $55.8 million, with a hold rate of 10.23%, indicating the market's stability and potential for continued growth.
Betting Channel Distribution
Online betting channels dominated the total wagered amount, accounting for $537.4 million or 98.5% of the total. Retail sports betting amounted to $7.9 million, although a smaller proportion, still provided a diversified way of betting in the market.
Performance of Major Operators
DraftKings continued to lead the market, generating $28.7 million in revenue from $275.9 million in bets, with a hold rate of 10.4%. FanDuel was second, with betting amounting to $129.3 million and revenue of $13.8 million, holding a rate of 10.67%. Other operators like Fanatics, BetMGM, and ESPN Bet also maintained stable market performance.
Physical Casino Operations
The total revenue from physical casino gambling was $105 million, up 1.7% year-over-year. Slot machine revenue was $73.9 million, and table games generated $31.1 million. Encore Boston Harbor led with $65 million in revenue, followed by MGM Springfield and Plainridge Park Casino with $24.9 million and $15.1 million, respectively.
Retail Sports Betting Performance
In retail sports betting, Encore Boston Harbor topped with a betting amount of $3.9 million and revenue of $387,454, holding a rate of 9.96%. Plainridge Park Casino had a betting amount of $2.8 million and revenue of $293,893, with a hold rate of 10.56%. MGM Springfield had a betting amount of $1.2 million, but specific revenue data was not disclosed.
Tax Contributions
In August, Massachusetts collected a total of $41 million in taxes from the gambling industry, with $11.1 million from sports betting and $29.9 million from casino gambling. These tax revenues provide significant financial support to the state government.
Market Trend Analysis
The sports betting market in Massachusetts continues to grow, with online betting channels dominating. Major operators maintain stable market performance, with hold rates fluctuating within reasonable ranges. Although the growth of physical casino business is slow, it still provides an important supplement to the market.
