Bay State sports betting action was down nearly 8% in April compared to March but up 4% year-over-year.
The Massachusetts Gaming Commission reported an April handle of $603.25 million, the fifth-highest since online wagering joined retail sportsbooks in March 2023. Back-to-back months with the amount wagered totaling more than $600 million is the first since the Bay State did it three consecutive months from Nov. 2023 through Jan. 2024.
In a month filled with the end of the NCAA tournaments, NBA and NHL playoffs, and MLB, monthly gross revenue reached $50.6 million to produce an 8.4% hold. Adjusted gross revenue of $49.1 million was up nearly 6% from March but down 16% year-over-year.
The Bay State filled its coffers in April with $9.9 million, up slightly from the $9.2 million from the previous month, to put year-to-date tax revenue close to $44 million.
Massive splits
Differences between online and retail wagering are always going to be steep, but April was disheartening for a particular brick-and-mortar operator. Six online sportsbooks accounted for $591.5 million of the total handle while retail reached $11.7 million.
However, mobile wagering made up all of the revenue. The MGM Springfield Casino lost over half a million dollars in April, bringing the overall total loss to $227,240 for the month. Encore Boston Harbor and Plainridge Park weren’t in the red, but neither had a hold much higher than 3%.
DraftKings Dominates
| Operator | April Handle | Revenue |
|---|---|---|
| DraftKings | $304.1 million | $24.5 million |
| FanDuel | $176.3 million | $20.1 million |
| BetMGM | $40.4 million | $2.5 million |
| ESPN BET | $27.9 million | $1.8 million |
| Fanatics Sportsbook | $22.7 million | $1.2 million |
| Caesars | $20 million | $713K |
Following March’s record-high handle of $323 million, DraftKings generated another $304 million in April, giving the online sportsbook just over 50% of the entire amount wagered in Massachusetts.
DraftKings also led the Bay State in revenue at $24.5 million, but rival FanDuel, which finished second with a handle of $176.3 million, enjoyed a monthly-best 11.4% hold to total over $20 million in profits.
No other mobile operator reached $50 million in handle, but BetMGM came close with $40 million. ESPN BET, Fanatics Sportsbook, and Caesars all reached $20 million.
None of those four finished with a hold above 6.6% in April.
Casino revenue cools
A month after in-person casino revenue reached $111.1 million, the MGC announced April profits of $97.5 million from table games and slots.
The Bay State hauled in $27.7 million in taxes from casinos, running the year-to-date total to over $113 million.
