Massachusetts sports betting revenue fell 16.6% in April.

Massachusetts sports betting revenue fell 16.6% in April.
16 May 2024 Gambling News

Massachusetts sports betting revenue fell 16.6% in April.

Despite an increase in player expenditure, sports wagering income in Massachusetts in April came at $49.1m (£38.7m/€45.1m) down 16.6% year-on-year.
Massachusetts $9.8 million was less than the $58.9 million reported in the same month previous year. By coincidence, Massachusetts's first complete month of legal online sports betting in April 2023  

Still, the April sales total is 6.3% more than $46.2m in March of this year.

About where income comes from, online betting brought in $49.4 million in April. A $256,593 loss from retail betting brought down the total income figure overall.

Regarding expenditure, Massachusetts participants bet $603.3 million overall on sports. This is 4.1% more than last year, but 6.1% behind $642.3m in March.

Of this amount, about $591.5m was bet online and the other $11.7m at retail sportsbooks.

In April, DraftKings' handle comes in at $304.1m.
Looking at specific operators, DraftKings still leading Massachusetts by some distance. From $304.1 million in total wagers, it brought in $24.5 million in sports betting income during April.

With income of $20.1m off $176.3m, long-time rival FanDuel came second. BetMGM, which made $2.5 million from $40.4 million in bets, followed in a far-off third.

ESPN Bet recorded $1.8m in income, Fanatics $1.2m, Caesars $712,756 for the rest of the pack.

Of the three casinos with sports betting on site, Encore Boston Harbour was the most successful retail operator. Players at the casino spent $5.2 million, therefore generating income of $161,126.

From $4.6 million in bets, Plainridge Park Casino noted $149,405 in income. But MGM Springfield's $537,772 loss off of $1.9 million in bets left retail in the red overall.

Massachusetts too experiences declining casino income.
Turning now to the casino sector, income here was again less year-on- year. March was $12.2% below last year and the $97.5m posted in April was 3.7% less.

Table games brought in $31.6m; slots accounted for $65.9m of this overall. 

With $60.9m in income, Encore Boston Harbour once again led the way followed MGM Springfield with $22.8m and Plainridge Park Casino with $13.8m. 

Examining the Massachusetts market holistically, total gaming income came to $146.6 million. With total tax at $37.6m, the state gathered $9.9m from sports betting activity and $27.7m casino gaming.

Massachusetts examines further non-gaming related advertising prohibitions.
Other news out of Massachusetts indicates the state is considering restricting advertising and promotional restrictions even more. Last month's meeting of the Massachusetts Gaming Commission covered prohibiting bonuses or promotions unrelated to gaming.

Already, Massachusetts has the most strict advertising and promotional rules among US states. On every advertisement visible in or from a professional sports stadium, the regulation mandates 21+. 

It was also the first to forbid university-gambling company alliances. Furthermore forbidden is gambling advertising in any place where 75% or more of attendees are expected to be under the age of twenty-one. 

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