Sports wagering revenue in Massachusetts amounted to $49.1m (£38.7m/€45.1m) in April, down 16.6% year-on-year despite an increase in player spending.
Revenue was $9.8m lower than the $58.9m posted in the same month last year. Incidentally, April 2023 was the first full month of legal online sports betting in Massachusetts.
However, the April revenue total is 6.3% higher than $46.2m in March of this year.
As to where revenue came from, online betting generated $49.4m during April. Retail betting resulted in a $256,593 loss, pushing the overall revenue total down.
In terms of spending, players in Massachusetts wagered a total of $603.3m on sports. This is 4.1% higher than last year but 6.1% behind $642.3m in March.
Of this total, some $591.5m was spent wagering online, while the remaining $11.7m was bet at retail sportsbooks.
DraftKings’ handle tops $304.1m in April
Looking at individual operators, DraftKings continues to lead the way in Massachusetts by some distance. During April, it generated $24.5m in sports betting revenue from $304.1m in total wagers.
Long-time rival FanDuel ranked second with revenue of $20.1m off $176.3m. Following in a distant third was BetMGM, posting $2.5m in revenue from $40.4m in bets.
As for the rest of the pack, ESPN Bet reported $1.8m in revenue, Fanatics $1.2m and Caesars $712,756.
In terms of retail operators, Encore Boston Harbor was the most successful of the three casinos that offer sports betting on site. Revenue at the casino hit $161,126, with players spending $5.2m.
Plainridge Park Casino reported $149,405 in revenue from $4.6m in bets. However, as MGM Springfield posted a $537,772 loss off $1.9m in bets, this left retail’s total in the red.
Casino revenue also dips in Massachusetts
Turning to the casino market, revenue here was also lower year-on-year. The $97.5m posted in April was 3.7% lower than last year and $12.2% behind March.
Slots accounted for $65.9m of this total, while table games generated $31.6m.
Encore Boston Harbor again led the way with $60.9m in revenue, ahead of MGM Springfield in $22.8m and Plainridge Park Casino with $13.8m.
Looking at the Massachusetts market as a whole, overall gambling revenue amounted to $146.6m. As for tax, the state collected $9.9m from sports betting activity and $27.7m casino gaming, with total tax at $37.6m.
Massachusetts considers further non-gaming related promotional bans
In other news out of Massachusetts, the state is considering further tightening promotional and advertising prohibitions. The Massachusetts Gaming Commission discussed banning promotions or bonuses that are not related to gaming at a meeting last month.
Massachusetts already has the most stringent advertising and promotional guidelines in the US. The regulator requires 21+ on any advertisement that can be seen in or from a professional sports venues.
It was also the first to ban partnerships between universities and gambling companies. In addition, it prohibits gambling advertising at any venue where 75% or more of attendees are expected to be under the age of 21.
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : IGamingBusiness – https://igamingbusiness.com/sports-betting/massachusetts-sports-betting-revenue-down-in-april/