Significant economic impacts. Public health safeguards. Thousands of new jobs. Hundreds of millions in tax revenue for the state.
Any industry would be screaming these achievements from the mountaintops to validate the positive influence they've had on the world around them.
That’s exactly what the Massachusetts Gaming Commission (MGC) did on July 26 when it highlighted the results from the first year of legal sports betting in Massachusetts.
“Since the launch of retail and mobile operations in early 2023, the industry has reshaped the state’s financial landscape and employment sector.”
That’s a bold statement for the Bay State’s betting regulator to make, but the numbers are certainly there to back it up.
According to a report released by the MGC, the first year of legalized sports wagering in Massachusetts has produced significant economic impacts and highlighted a commitment to responsible gaming.
— MA Gaming Commission (@MassGamingComm) July 29, 2024
READ MORE: https://t.co/KiS8fAZ12i pic.twitter.com/wHmXobwzhK
MA sports betting at a glance
Massachusetts sports betting is one of the most prolific legal sports wagering jurisdictions in the United States revolving around seven online sportsbooks including FanDuel. DraftKings, and Caesars Sportsbook.
In its first year of action, $594.9 million in gross gaming revenue (GGR) was generated which helped state coffers haul in $118.5 million in total tax revenue.
Super Bowl LVIII alone spurred $9 million in total GGR for sportsbooks in Massachusetts and $1.8 million in tax collections after 3.3 million bets were placed on the big game.
The MGC highlights that more than 100 Massachusetts residents have joined the sports wagering industry workforce in the last year, while nearly 4,500 minorities and more than 3,300 women have become employed in the new industry as well.
Commitment to responsible gaming
The MGC is known throughout the U.S. legal sports betting industry for its rigorous regulations governing sports betting in Massachusetts, where even agenda items like taking bets on the Super Bowl coin toss require lengthy, in-depth debates.
The Bay State has prioritized responsible gaming alongside the introduction of sports wagering, and the results from year one showcase the state’s commitment to safe and responsible gaming practices.
Over 38,000 accounts are utilizing play management tools, and another 8,728 have employed temporary prohibitions. There were nearly 90,000 inquiries related to play management and responsible gaming in the first year alone too.
Growth of online sports betting in Massachusetts
MA online sports betting sites dominate the market, with more than 98% of the revenue and taxes coming from online sportsbooks in Massachusetts in the first year of legalized wagering.
Bally Bet became the seventh active operator in the Bay State on July 2.
Bay State bettors will have new markets to bet on when the upcoming NFL season begins after a March meeting of the MGC reviewed requests from multiple operators to add new prop bets. The Commission granted unanimous approval for Fanatics, FanDuel, and DraftKings to all update their wagering catalogs.
