Massachusetts Releases Revenue Figures for First Month of Sports Betting

Retail sportsbooks accepted over $25.7 million in wagers

by - Thursday, March 16th, 2023 9:54

encore casino boston sports betting
One of the state's three sportsbooks is located at Encore Boston Harbor

The Massachusetts Gaming Commission has released data from the state’s first full month of sports betting revealing that gamblers wagered almost a million dollars every day throughout February.

According to the report, since the retail sports betting industry launched on January 1st, 2023, sportsbooks generated $2.01 million in taxable sports wagering revenue. The report goes on to state that sports fans wagered $25.7 million throughout the 28 days of February on both professional and college sports.

Of that figure, only $2 million was reported by the state’s casinos as revenue. As a result state taxes from sports betting amounted to $301,533.52.

The report also reveals that casinos generated taxable revenues of $98 million during the month of February. This resulted in state taxes of $27.3 million from casino gaming. This brings the total amount of taxes collected for the month to $29.3 million.

This figure is expected to grow significantly over the coming months following the launch of mobile sports betting in Massachusetts. Mobile sportsbooks began accepting bets on March 10th. According to Geocomply, during the weekend following the launch over 400,000 unique player account were created while the company tracked 8.1 million betting transactions.

Jenny Tang

An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.

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