The Massachusetts Gaming Commission reported that the state accepted $658.6 million in wagers last month, a less than 1% month-over-month increase. But the sportsbooks in the Bay State enjoyed a revenue bounce, thanks to some unlucky bettors.
The hold percentage rebounded from 7.7% in November to 9.4% in December. And, with that, revenue jumped from roughly $49 million to $60.5 million, a 23% improvement. And when the operators win, so too does the state legislature. December’s tax bill exceeded $12 million.
Massachusetts has eight online operators and the hometown DraftKings remained the most popular sportsbook, seeing $315.8 million in wagers. While the book accepted $120 million more than rival FanDuel, there was a bit of bad news. DraftKings actually saw its handle fall slightly while FanDuel increased its action.
ESPN Bet maintains popularity
After ESPN Bet’s launch in November narrowly had the book above BetMGM for third place, December showed that it was no fluke.
ESPN Bet reported about $50 million in wagers last month, putting the PENN product solidly in third over BetMGM’s $39 million. And the $4 million in revenue (over BetMGM’s $3 million) showed that this kind of action can be expected in 2024.
Plainridge Casino still best retail location
Plainridge Park Casino, for the second month in a row, saw the most wagers, beating out Encore Boston Harbor $7.2 million to $6.3 million.
While MGM Springfield fell well short of its competition, the retail operator enjoyed a massive 13.7% hold, turning the nearly $2 million in bets into around $260,000 in revenue.
