Massachusetts sportsbooks report record numbers in December
The cold winter hasn't dampened Massachusetts' hot sports betting market. While the story is short, sports betting in Massachusetts saw its highest revenue ever in December.
Bay State sports bettors placed $658.6 million in bets through online and retail operators, according to the Massachusetts Gaming Commission (MGC) December sales report. That’s a record number since the Bay State launched online sports betting in March 2023 and added brick-and-mortar sports betting in January.
Even the Patriots' disappointing 4-13 record couldn't slow the momentum. In December, operators generated $60.5 million in taxable sports betting revenue. The state received $12 million in sports betting taxes.
Online and retail sportsbooks in Massachusetts have processed nearly $4.9 billion in wagers since the introduction of legal sports betting. Taxable sports betting revenue totaled $471.1 million, with operators paying approximately $93.8 million to the state.
Casino with the second highest total revenue
Massachusetts casinos ended 2023 with a strong showing. Wagering winnings at the state's three brick-and-mortar casinos totaled $103 million. This is the second-highest total monthly sales in 2023.
The three casinos, including Encore Boston Harbor, MGM Springfield and Plainridge Park Casino, generated more than $29 million for the commonwealth in December of taxes. Online casinos are believed to generate more tax revenue, but online casinos are not legal in Massachusetts.
The dynamics at casinos and sports betting have caught the attention of Beacon Hill lawmakers and the governor.
Game revenue helps close budget gap
The expansion of gambling in Massachusetts provides Gov. Maura Healey (D) with a new source of revenue. Former casino rival Healey now plans to use gambling revenue to cover a $1 billion budget deficit.
Since casino gambling took off in Massachusetts in 2015, the state has collected $1.623 billion in taxes and fees from casino operations.
In fiscal year 2023, total gaming revenue was approximately $330.7 million. That's up from about $310 million in fiscal 2002 and $233.1 million in fiscal 2021, according to the state. Add to that $93.8 million in the year since legal sports betting began, and the future looks bright.
The Healey administration said it expected net lottery profits to be about $1.2 billion, and has since raised that estimate by $75 million.
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Source: www.casino.org
