The Bay State’s sports betting activity took a downturn in July, marking the fourth consecutive month of decreasing spending.
Sports betting in Massachusetts fell below the $300 million mark in July, reaching a total of $294.9 million, a decrease of 11.3% from the $332 million recorded in June. This represents the lowest monthly figure since the launch of legal online betting in April.
This is the first instance where both land-based and internet betting expenditures have dropped below the $300 million threshold.
Online wagering contributed $288.1 million, reflecting a 10.9% month-on-month decline. Retail betting also experienced a decrease, falling by 20.0% to $6.8 million.
The decline in betting activity resulted in a drop in revenue, with July’s sports betting tax revenue also experiencing a decrease. The combined total for retail and online wagering reached $29.4 million, down 8.7% from the $32.2 million recorded in June.
Of this total, online betting revenue amounted to $28.8 million, representing a 10.3% decrease. The remaining $576,139 was generated by retail betting, marking a 274.3% increase from June.
Examining individual operators, DraftKings maintained its position as the leading online operator, generating $14.4 million in revenue on $144.9 million in wagers.
FanDuel came in second place with $9.9 million in revenue on $86.2 million in wagers, followed by BetMGM, which generated $2.5 million in revenue on $22.5 million in wagers.
Regarding the land-based betting sector, Encore Boston Harbor topped the list with $349,832 in revenue and $3.2 million in handle.
Plainridge Park Gaming House secured the second spot, generating $153,439 from $3 million in wagers, trailed by MGM Springfield, which brought in $72,868 from $607,046 in bets.
Massachusetts gambling income dipped by 2% in July, with the brick-and-mortar gambling industry’s table and slot machine earnings reaching $98.6 million. This signifies a 2.0% decline in comparison to June’s $100.6 million.
Slot machine profits amounted to $67.5 million, while table game earnings reached $31.2 million.
Encore Boston Harbor held the top position in the market, boasting a total gambling revenue of $61.3 million. MGM Springfield came in second with $23.5 million, followed by Plainridge Park with $13.9 million.
Overall revenue from sports betting and casino gaming in June totaled $128.1 million, a 3.5% decrease from June’s $132.8 million. Furthermore, total taxes in July amounted to $33.8 million, with $5.8 million originating from sports betting and another $28 million from casino gaming.
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