Betting Revenue Dips in Massachusetts Despite Increased Wagers

Despite a rise in player spending, the Massachusetts Gaming Commission reported sports betting revenue in April was $49.1 million, a 16.6% decrease from the same month last year. However, retail betting took a hit, incurring a loss of $256,593, which dragged down the total revenue.

When it comes to spending, sports bettors in Massachusetts wagered a total of $603.3 million. This amount is 4.1% higher than the same period last year but falls 6.1% short of the $642.3 million wagered in March, Out of the total wagers, $591.5 million came from online bets, while retail sportsbooks accounted for $11.7 million.

DraftKings MA Leads the Pack Despite Seasonal Slump

With an impressive $24.5 million in revenue on $304.1 million in wagers for April, DraftKings is still a leading player among all six Massachusetts sports betting operators.

FanDuel, a longstanding rival, took second place with $20.1 million in revenues on $176.3 million in wagers. BetMGM, on the other hand, trailed far behind, making $2.5 million in revenue on $40.4 million in bets.

Even though April is supposed to be a slower month for sports betting, ESPN BET’s handle fell to $27.9 million, its lowest amount since going under $30 million when it initially opened for business in the state last November. It held $1.8 million, the lowest monthly earnings to date.

Despite seeing a decline in handle to $22.8 million in April, Fanatics Sportsbook had a 29% gain in revenue to $1.2 million. Interestingly, the latter two months accounted for more than 60% of its $76.2 million handling in 2024.

In April, Caesars had the lowest handle — $712,800 in revenue on a 3.6% hold. In the last six months in Massachusetts, the operator has struggled to record a hold over 5.4%; in the first four months of this year, the operator has maintained a 4.5% win rate.

MA Reaps Substantial Tax Revenue From Sports Betting

Massachusetts levies a 20% tax on online gambling and a 15% tax on gaming revenue generated in retail.

Since sports betting became legal in Massachusetts in 2023, the state has collected over $127 million in tax revenue, according to the American Gaming Association. Online betting was authorized by the Massachusetts Gaming Commission (MGC) two months after retail sportsbooks received approval to begin accepting bets in January.

Five state funds get the tax money from sports betting, with the General Fund receiving the lion’s share of it. Tax income of $57.2 million has been collected by the General Fund since the inception of sports betting.

Meanwhile, $34.8 million has been collected for the Gaming Local Aid Fund, and $22.2 million has been given to the Workforce Investment Trust Fund.

The Public Health Trust Fund has received around $11.4 million in funding, while the Youth Development and Achievement Fund has received an additional $1.3 million.

In related news, Massachusetts is considering enacting even more stringent laws regulating advertisements and promotions. Last month, the Massachusetts Gaming Commission considered outlawing bonuses or promotions that were unrelated to gambling.