Sports fans wasted no time placing their bets in Massachusetts.
After online sportsbooks opened for business on March 10, Massachusetts sports fans wagered more than $548 million using the six online sportsbook apps available in the state.
That’s a total of $24.9 million wagered per day from March 10-31.
Needless to say, sports betting in Massachusetts has been a smashing success since its launch earlier this year.
Online betting drives Massachusetts market
Massachusetts is only the third state to record a total handle over $500 million in total handle for online sports wagering in its first month (of at least 21 days). The others were New York, which went over $1 billion in January 2022, and Ohio at $1.1 billion in January 2023.
A total of $45.6 million in taxable sports wagering revenue from mobile Massachusetts sports betting was reported for the 22 days in March.
By comparison, $1.5 million was taken in from the three retail sportsbooks (at Encore Boston Harbor, Plainridge Park Casino, and MGM Springfield).
All in all, the state collected $9.1 million in tax revenue from the mobile sports betting operators.
Mobile sports betting operators are taxed 20% of their taxable sports wagering revenue in Massachusetts. With more than $9 million coming in for part of March, it’s possible that the state could see as much as $100 million in taxes from online sports betting operators in 2023.
Sports betting scene in Massachusetts
March featured the NCAA Men’s and Women’s Basketball Tournament, which fuels college sports betting. The NBA and NHL were also in action.
For April, Red Sox betting will likely add to the sports betting activity in the state. In addition, the NHL Playoffs and NBA Playoffs are in action this month.
Since casinos were opened in Massachusetts in 2015, the state has received $1.374 billion in total taxes and assessments from the casino operations of Plainridge Park, MGM Springfield, and Encore Boston Harbor. The addition of legal sports betting brings that total to $1.383 billion.
If you or a loved one is experiencing problems with gambling, call 1-800-327-5050 or visit www.mahelpline.org/problemgambling to speak with a trained specialist for free, 24/7
