Massachusetts reports 20.7% increase in sports betting handle for March

Massachusetts has reported a month-on-month increase of over $110.0m (£88.5m/€103.5m) in its sports betting handle for March.

Sports betting handle reached $642.3m in Massachusetts for the month of March, up 20.7% from February’s figure of $542.5m, though it didn’t quite surpass January’s $651.7m.

It was a good month for bettors, with taxable gaming revenue standing at $46.2m, falling 13.6% short of February’s total of $52.5m.

Despite the monthly rise in handle, tax contribution to the state also fell to $9.2m from $10.5m.

Since sports betting went live at the start of 2023, Massachusetts has collected $127.8m in tax contributions from the sector.

DraftKings out in front in Massachusetts

DraftKings enjoyed a strong month, with its handle of $323.0m up 19.7% on its February figure of $269.8m. Its taxable gaming revenue stood at $22.7m.

DraftKings is way out in front of FanDuel, which took $119.4m in bets during March and generated $15.2m in revenue.

Lagging behind was BetMGM with $45.5m in handle, while ESPN Bet and Caesars Sportsbook rounded out the top five with $34.4m and $25.2m respectively. Fanatics, meanwhile, took $23.7m in bets over March.

Of the three land-based venues offering sports betting, Plainridge Park Casino took $5.6m in bets, while Encore Boston Harbor and MGM Springfield reported $5.0m and $1.6m in sports betting handle respectively.

Casino revenue also up in March

In addition to its sports betting increases, Massachusetts also saw its casino revenue rise month-on-month.

The state’s three casinos reached $111.1m in gross gaming revenue (GGR) during March, up 10.4% on February’s figure of $100.6m.

Encore Boston Harbor led the way with $70.4m in table and slots GGR, while MGM Springfield generated $25.2m. Plainridge Park Casino brought up the rear with $15.4m in GGR.

Up to now, casino operations have contributed around $1.7bn to the state in taxes since the openings of the three facilities.

Original Article