DraftKings Leads Rise in Massachusetts Sports Betting Revenues
The Massachusetts Gaming Commission (MGC) has announced revenue of $654.9 million from sports betting operators in the US state for March this year. These revenues have been achieved despite two sports book operators leaving the gaming market in the state.
Massachusetts sports betting handle March 2024.
LISTEN TO THIS ARTICLE:The Massachusetts Gaming Commission (MGC) has announced revenue of $654.9 million from sports betting operators in the US state for March this year. These revenues have been achieved despite two sports book operators leaving the gaming market in the state.
The combined revenue figures for March were up 15.3% from $568.2 million in a year-on-year comparison and represent the online and retail sports wagering in Massachusetts. The three retail sites MGM Springfield, Encore Boston Harbor, and Plainridge Park Casino accounted for $12.6 million in March.
Despite an increase in sports wagering revenues in the state for March from the previous month, the Taxable revenue for the month went down to $46.2 million from the February figure of $51.8 million. The statement outlined that sports betting in the state had surged back up to more than $600 million for the month and only revenue in February had failed to surpass this milestone.
Additionally, approximately $46.23 million in taxable sports wagering revenue (TSWR) was generated across the eight mobile/online sports wagering licensees and the three in-person licensees for the month of March.
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Big Two Sportsbooks Dominate the Market
The trading figures for gaming operators in Massachusetts show that the DraftKings and FanDuel sports betting offerings continue to dominate this sector in North America.
DraftKings enjoyed the highest revenue figures for March with $323 million, a 25% increase from $257 million reported for the same month in 2023. FanDuel is the other major sportsbook in the state and saw revenue of $190 million in March which remained similar to the same period for the previous year.
Operators WynnBet and Betr ceased their sportsbook offering in Massachusetts and have withdrawn from the market in the state. However, the results in the state indicate that none of the remaining operators has managed to increase market share due to WynnBet and Betr leaving the gaming market in the state.
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