Massachusetts had a booming sports betting performance in October, with a total betting amount reaching $892.2 million, an 11.5% increase month-over-month and a 19.3% surge compared to last October, easily setting a new monthly record. Online betting accounted for the majority, amounting to $879.2 million, while brick-and-mortar contributions were $12.6 million. Revenue was also impressive, totaling $71.3 million, up 47.6% from last October, with a hold rate of 7.99%. Detailed reports are available on the PASA official website for further reference.
Betting Amount Hits New High
October's total betting amount exceeded September's $800.3 million by more than a tenth, with online platforms dominating as players prefer to place bets via mobile. This data not only broke state records but also showed a nationwide gambling fever similar to states like Pennsylvania and Michigan.
Revenue Performance Shines
Monthly revenue of $71.3 million was up 36.3% from September, although it still fell short of the historical high of $96.4 million in January. Online revenue contributed $70.7 million, while brick-and-mortar accounted for only $5.98901 million, with an overall hold rate stable around 8%, indicating a steady market operation.
Operator Market Landscape
DraftKings remains the leader in its home state, with a betting amount of $447.4 million and revenue of $38.5 million, holding a rate of 8.61%. FanDuel followed closely with a betting amount of $237.3 million and revenue of $17.3 million. Other brands like Fanatics and BetMGM also showed performances, with Bally Bet as the only other online operator, earning $3.14452 million. In terms of brick-and-mortar, Plainridge Park Casino slightly led with revenue of $3.06328 million.
Casino Revenue and Tax Overview
Total casino revenue was $96.9 million, a slight increase of 2.3% from last year, with slot revenue at $71.7 million and table games at $25.1 million. Encore Boston Harbor led with $57.6 million, while MGM and Plainridge Park contributed $24.1 million and $15.2 million respectively. In terms of taxes, the state collected $42.1 million in October, with $27.9 million from casinos and $14.2 million from sports betting.
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This article is from "PASA-Global iGaming Leader" gambling industry news channel:https://t.me/pasa_news
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