Massachusetts Sports Betting Could Produce $5 Billion in Wagers in Year 1

Massachusetts Sports Betting Could Produce $5 Billion in Wagers in Year 1
Fact Checked by Michael Peters

We’re not far away from the dawn of sports betting in Massachusetts, when the Bay State joins the more than 30 others with legal wagering.

The state is expected to launch retail sports betting in January, with Massachusetts sportsbook apps to follow in March.

Massachusetts will become the second state in the nation to launch sports betting in 2023, after Ohio (which goes live on Jan. 1). The state has a lot of baked-in advantages, with numerous professional sports teams and a sports-rich culture.

Once it does launch, Massachusetts will be primed for sports betting success, at least based off the early returns from its neighbors like New York (with more than $13 billion in wagers since January) and Connecticut ($1.5 billion in wagers since launching in October 2021).

BetMassachusetts.com used a state with a similar population (Arizona) to project how the state’s sports betting scene will fare once it launches.  

As the online launch draws near, come to BetMassachusetts.com for all the  Massachusetts sportsbook promos.

Select States in Their First Year of Sports Betting

State Population 1st-Year Handle Dollars Per Resident
Massachusetts 6.98 million $5.22 billion* $746.64*
Arizona 7.28 million $5.43 billion $746.64
Arkansas 3.01 million $109.6 million** $36.42**
Colorado 5.8 million $2.3 billion $399.96
Illinois 12.67 million $5.5 billion $433.78
Indiana 6.8 million $1.2 billion $176.66
Iowa 3.2 million $391 million $122.46
Kansas 2.9 million $350.4 million*** $119.29***
Louisiana 4.66 million $1.85 billion $396.99
Michigan 10.1 million $1.98 billion $197.80
Montana 1.1 million $27.8 million $25.15
Pennsylvania 13.0 million $1.165 billion $89.61
Tennessee 6.9 million $2.3 billion $333.33
Virginia 8.6 million $3.22 billion $373.26
Washington, D.C. 689,545 $34.7 million $50.25
Wyoming 576,851 $135.8 million $235.42
* — BetOhio.com projections
** — Since March 2022 mobile launch
*** — Since Sept. 2022


Massachusetts Sportsbooks Should Rake in Cash

Massachusetts should be primed for success from the get-go thanks to the state’s longstanding ties with Boston’s MLB, NFL, NHL, NBA, and MLS franchises.

Boston sports teams have combined to win 12 championships since 2000 and should be in good shape to win more soon.

Oddsmakers at BetMGM Sportsbook Massachusetts currently have the Boston Celtics atop their NBA Championship odds board at +375, while the Boston Bruins are second to win the 2023 Stanley Cup at +650 (behind Colorado at +500).

The Patriots, meanwhile, have the 10th-best AFC odds at +8000.

That success breeds sports loyalty, which should only further bolster Massachusetts’ wagering performance.

BetMassachusetts.com used the first year of wagering revenue in Arizona, which has a similar population (7,151,502 to Massachusetts’ 6,984,723) to come up with a projection.

Based on Arizona’s first-year wagering sum of $5.4 billion, the average amount wagered per resident in the Grand Canyon State was $746.64.

If bettors in Massachusetts are equally active, the state would rake in $5.22 billion, which averages out to $434,589,465 per month.

How Massachusetts’ Sports Betting Projects Nationally

The Massachusetts sports betting marketplace would rank ahead of industry stalwarts, such as Virginia ($3.22 billion), Tennessee ($2.3 billion), Colorado ($2.3 billion) and Michigan ($1.98 billion) should it reach its full potential.

Of the states that launched in 2022, Massachusetts' projected sum ranks behind New York ($13.668 billion, or $689.06 per resident, as of Nov. 13) and ahead of Kansas ($350.4 million, or $119.27 per resident, in just its first two months of operation).

It appears wagering could be the gift that keeps on giving in the new year, for sports bettors and operators in Massachusetts alike.

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Contributors

Christopher Boan has been covering sports and sports betting for more than seven years, including stops at ArizonaSports.com, the Tucson Weekly and the Green Valley News.

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