$25.7 Million Bet At MA Casino Sportsbooks In First Full Month Of Sports Betting
In their first full month of operation, Massachusetts retail sportsbooks brought in $25.7 million in total wagers.
That’s according to the Massachusetts Gaming Commission, which released February revenue reports for the sportsbooks at the state’s three casinos: Encore Boston Harbor, MGM Springfield and Plainridge Park Casino.
From that $25,726,634.76 in total sports betting handle, the three Massachusetts casinos took $2 million in revenue.
Plainridge Park Casino reported the highest February revenue at $890,555.32. Encore Boston Harbor reported $857,602.14 in February revenue, while MGM Springfield reported $262,066.08.
Massachusetts received $301,533.52 in sports betting tax payments for February.
It’s important to note that, even though this was the first full month of Massachusetts sports betting, there were only 28 days in February.
Massachusetts casino sportsbook February revenues
Because casino sportsbooks were open only one day in January, Jan. 31, the January MA sports betting handle was just $510,948.04. With just one day to report, Encore Boston Harbor had negative revenue in January — a loss of $74,320.15. (Yeah, WynnBET Massachusetts bettors had a great Jan. 31.)
We can glean much more from a full month of data.
|Encore Boston Harbor||$16,900,615||$857,602||$128,640|
|Plainridge Park Casino||$7,059,460||$890,555||$133,583|
It’s worth noting that all three MA retail casinos accepted bets on the Super Bowl last month prior to the launch of online betting. Prior to the game, Play MA projected that Super Bowl 57 would generate just over $7 million in total bets for the Feb. 12 game between Philadelphia and Kansas City.
Encore Boston Harbor
Although its revenue wasn’t the highest, EBH’s handle was by far the largest of all three Massachusetts casinos at $16,900,614.83. However, its revenue hold of 5.3% was by far the lowest of the three (like it was on Jan. 31), paying out $15,999,831.05 to bettors.
EBH’s February tax payment was $128,640.32.
Plainridge Park Casino
PPC took in $7,059,459.93 in total February sports betting handle. It had a revenue hold of 12.82%, paying bettors at its Barstool Massachusetts Sportsbook $6,154,128.67.
PPC paid Massachusetts $133,583.29 in February taxes.
MGM Springfield reported the lowest handle in February, at $1,766,650. But it also reported the highest hold at 15.09%, paying out $1,500,003.4 to bettors.
MGM Springfield’s February sports betting tax payment was $39,309.91.
Breaking down the numbers
In sports betting, sometimes the highest handle doesn’t always lead to the highest revenue.
We saw that with Jan. 31 data, and we see it again with the February numbers from Massachusetts’ three casino sportsbooks.
Just like Jan. 31, Encore Boston Harbor reported the largest handle by a wide margin. This will likely always be the case, as EBH is just north of the heart of Boston, MA’s most populous city. But, again, just like it did Jan. 31, Plainridge Park Casino had bettors not nearly as lucky as those at EBH.
So much so, in fact, that PPC reported about $23,000 more revenue even though it had almost $10 million less in handle.