Betting News

Massachusetts Sports Betting Revenue Breaks Record in January

Massachusetts’ revenue climbed by an impressive 17% in January, following a setback last year in May 2023. January’s handle fell 1.1% short of the $658.7 million record established in December, but the Massachusetts sports betting sector still earned $651.7 million.

The entire tax collection was $5.8 million, a significant 9.4% decrease from December. Massachusetts has shown strong development since its sports betting went live in January 2023. Online wagering accounted for approximately 99.4% of total handle in January.

In terms of the casino industry, Massachusetts generated gross gaming revenue (GGR) of $93.5 million in January, which is a significant 10.1% decrease compared to December’s GGR of approximately $103 million. In the lead is Encore Boston Harbor, which has amassed $60.9 million in slot and table GGR.

Draft King has approximately $315.9 million in handle, which is less than $4.5 million of the $311.4 million it amassed in December. 

In January, FanDuel experienced a substantial increase in its sports wagering handle, which surged by nearly 3.6% to reach $194 million. It experienced a further decline and fell shy by $121.9 million of the total wagers placed by Draft Kings in January.

ESPN Bet, which debuted in 17 US states in November, maintains its market presence by securing the third spot in January with $45.4 million in handled funds. Caesars Sportsbook and BetMGM, with respective funds of $22.5 million and $36.8 million, occupied the fifth and fourth positions, respectively.

WynnBet will not participate in the expanding online market in Massachusetts, as the gambling brand of Wynn Resort’s Wynn Interactive divisions ceased operations in 2024. Wynn Resorts will persist in its activities pertaining to retail sports wagering within the state. Physical sportsbooks and terminals remain accessible to players via the Encore Boston Harbor platform.

Following the Massachusetts resort’s closure, Wynn Resorts intends to expand its brand throughout the United States. Pennsylvania, Massachusetts, West Virginia, Virginia, Tennessee, New Jersey, Louisiana, Indiana, and Colorado will be discontinued by Wynn Resorts. Nevertheless, it intends to maintain operational activities in the states of Michigan, Nevada, and New York.

Edna Boykin

Edna Boykin started her career as a financial news writer. And, she was withal active in stock trading. From the commencement of her vocation, she is passionate about online poker games. As she likes to play poker and roulette, she knows the casino industry exhaustively. She recently joined Times of Casino as a news writer. She regularly contributes in-depth breaking stories and news updates of the casino industry.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button