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Massachusetts Online Sports Betting Performs In April

May 18, 2023 2

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Massachusetts Online Sports Betting Performs In April

In April, a total of $579,262,822.66 was wagered on current and future in-person and online sports bets in Massachusetts. Retail licensees offering in-person sports wagering generated $364,481.54 in taxable gaming revenue during the month. The combined gaming revenue from six online platforms amounted to $58,548,295.26. The state collected a total of $11,799,200.04 in taxes for sports betting in April.

MGM Springfield had a negative accrual winnings figure, indicating that they paid out more to bettors than they won in overall in-person bets. According to the Massachusetts Gaming Commission (MGC), when an operator’s adjusted gross sports wagering receipts for a month result in a negative number due to winnings paid to bettors and excise taxes paid under federal law exceeding the operator’s total gross receipts from sports wagering, the operator can carry over the negative amount in tax liability to subsequent months.

Among online sports betting operators, DraftKings generated the highest taxable revenue of $28.2 million, followed by FanDuel with $21.7 million.

In terms of casino gaming, the combined Gross Gaming Revenue (GGR) for the three Massachusetts casinos was approximately $101.1 million. MGM Springfield accounted for $23,735,696.18 in revenue from table games and slot machines and paid $5,933,924.05 in taxes to the state.

Since the opening of each casino facility, Massachusetts has collected around $1.403 billion in taxes from the three casinos.

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