Massachusetts Sports Betting Revenue Reporting: Month-by-Month

The experts at BetMassachusetts.com have assembled this guide to provide the latest updates on Massachusetts sports betting financial figures, which include handle, revenue and tax collections.

The sports betting market in Massachusetts is relatively new. Sports wagering was legalized in the commonwealth in 2022. In-person sports wagering began in January 2023, and online/mobile wagering began in March 2023.

In Massachusetts, there are three categories of sports wagering licensees: Category 1, licensed casinos; Category 2, racetracks and/or simulcast centers, and Category 3, online/mobile operators.

Financial figures are specified by either retail licensees or online licensees. They also include data from Massachusetts sportsbook promos.

In Massachusetts, bettors have shown already they will wager hundreds of millions of dollars each month, and the vast majority of the sports gambling action is on online or mobile, via computers or mobile devices.

Sports wagering is taxed as follows: Category 1 & Category 2 Sports Wagering Licensees are taxed on 15% of gross sports wagering revenue, and Category 3 Sports Wagering Licensees are taxed on 20% of gross sports wagering revenue.

Massachusetts Sports Betting Revenue: June vs. May

Massachusetts Sports Betting Handle and Revenue: June 2024

The midsummer swoon bit Massachusetts sportsbooks hard in June. The state had a 13.3% drop in wagering handle and a 29% decline in revenue month-over-month compared to May.

Sportsbooks in the Bay State reported $509,356,529 in handle (or amount wagered) in June. That was a drop of nearly $80 million from the $587,262,703 in bets for May. The state’s sports betting taxable gaming revenue wound up at $40,460,869 last month, down from May’s sum of $57,025,686.

That sizable drop in gaming revenue corresponded with the decline in sports betting taxes. The state collected $11,485,181 in May but $8,235,270 for June, a 27.7% decrease.

Overall, the top operators by total handle market share in June were DraftKings Massachusetts Sportsbook at $263,661,418, then FanDuel Sportsbook at $141,443,514, followed by BetMGM ($34,029,495), ESPN BET ($21,791,329), Fanatics ($20,158,923) and Caesars Sportsbook ($19,630,687).

The state’s three retail outlets were down as well. Massachusetts’ top dog for brick-and-mortar handle was Encore Boston Harbor at $4,656,328, followed by Plainridge Park ($2,951,700) and MGM Springfield ($1,033,135). Those three retail sportsbook operators combined to lose $588,965, producing a tax bill of just $21,985. Encore was the only one of the three to land on the positive side of the ledger for the month. The other two casinos lost money on sports wagering.

The Boston Celtics won their 18th NBA championship in June, producing a lot of happy bettors as well as fans. That helps to explain why revenue went down for MA sportsbooks more steeply than handle in June. Such are the perils that come from having a hometown team win a title and operators having to pay out more to customers than they take in during such a historic run.

Massachusetts Mobile Sports Betting History