The second month of online sports betting sites in the Bay State saw a slight increase in wagering and a good bump in taxable revenue.
Numbers published by the Massachusetts Gaming Commission on Monday showed there was $579.3 million in legal sports betting in the commonwealth last month. That was up from $568.2 million for March, when online operators first went live about a third of the way through the month.
The relatively small uptick in wagering was likely due in part to the slowing of the sports calendar in April. With football season and March Madness in the rearview mirror, the pace of play at sportsbooks tends to ease.
Note: the MGC has updated its chart after an input error. Legal sports betting in the commonwealth actually rose last month to $579.3M. https://t.co/4Xy8OCNeGN
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Still, gross revenue for April was $60.3 million, leading to a 10.41% hold for sportsbooks. In March, the gross win and win rate for operators was $48.3 million and 10.35%.
Massachusetts sports betting also saw its taxable revenue shoot up in April to $58.9 million for the month from $47.1 million in March. As a result, tax collected went from $9.4 million in March to $11.8 million in April.
The bulk of April's action was taken by online sportsbooks, which handled $566.2 million in bets last month. The online sportsbooks were also responsible for the lion's share of revenue, with $59.9 million in receipts reported for April.
Hometown favorite delivers
The leading online sportsbook by handle last month was DraftKings, with $283.8 million in current and future wagers settled by the Boston-based bookmaker during April. DraftKings also generated almost $29 million in gross revenue, tops among the six operators that were live in Massachusetts last month.
Second was FanDuel, with $172.6 million in handle and $22.1 million in gross revenue in April. Placing third last month was BetMGM, with almost $43 million in handle and $4.7 million in gross revenue.
This story has been updated from its original version following an update to the MGC's revenue report.
