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Massachusetts Sports Betting Revenue Down 16.6% in April

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In April 2014, sports wagering revenues in Massachusetts totaled $49.1m ($48.7m/EUR45.1m), a 16.6% decrease from the previous year despite an uptick in spending by players.

The revenue was down $9.8m compared to the $58,9m reported in the same period last year. In fact, the month of April 2023 will be the first in Massachusetts to have legalized online sports betting.

The April total revenue is 6,3% more than the $46.2m of March this year.

Online betting was the source of revenue in April, generating $49.4m. Retail betting led to a loss of $256,593, which pushed the total revenue down.

Massachusetts players wagered $603.3m in sports. It is 4.1% more than the previous year, but still 6.1% less than $642.3m from March.

Online wagering accounted for $591.5m of this total. The remaining $11.7m came from retail betting.

DraftKings handle tops $304.1m in April

DraftKings is the leader in Massachusetts when it comes to individual operators. In April it made $24.5m from 304.1m total bets.

FanDuel, a long-time competitor, ranked second in revenue with $20.1m from $176.3m. BetMGM was a distant second, with $2.5m of revenue generated from bets totaling $40.4m.

The rest are Fanatics, ESPN Bet, and Caesars.

Encore Boston Harbor is the best-performing retail operator among the three casino sites that provide sports betting. The casino generated $161,126 in revenue, and players spent $5.2m.

Plainridge Park Casino posted a $149,405 revenue on $4.6m of bets. Retail’s overall total was in the negative as MGM Springfield reported a loss of $537,772 on $1.9m bets.

Massachusetts casino revenue is also down

The casino sector also saw a decline in revenue. In April, the $97.5m revenue was down 3.7% from last year. It also fell 12.2% behind what it was in March.

Table games generated an additional $31.6m, and slots accounted for the remaining $65.9m.

MGM Springfield, with $22.8m of revenue and Plainridge Park Casino at $13.8m were the next two casinos in line.

Overall gambling revenues in Massachusetts totaled $146.6m. Taxes collected by the state included $9.9m in sports betting and $27.7m for casino gambling. The total tax was $37.6m.

Massachusetts is considering further promotional bans that are not related to gaming

Massachusetts is also considering tightening its advertising and promotional restrictions. At a recent meeting, the Massachusetts Gaming Commission considered banning bonuses or promotions that were not directly related to gambling.

Massachusetts has already set the strictest advertising and promotion guidelines of any state in the US. Advertisements that are visible in professional sporting venues or can be seen from them must have a 21+ rating.

The first ban on partnerships between gambling companies and universities was passed in this year. It also prohibits advertising gambling at venues where more than 75% of the attendees will be younger than 21.

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