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Sportsbook

Massachusetts sports betting market blew past tax revenue projections in first year

Tuesday 27 de February 2024 / 12:00

2 minutos de lectura

(Massachusetts).- Massachusetts collected nearly twice as much in taxes during its first year of sports betting as lawmakers projected.

Massachusetts sports betting market blew past tax revenue projections in first year

Why it matters: Online sportsbooks have kept the money flowing into the state's coffers in their first year despite concerns about Massachusetts wading into an oversaturated market.

Driving the news: Sportsbooks reported more than $542 million in taxable revenue between February 2023, when retail sportsbooks launched, and last month, per regulatory data.

  • Massachusetts collected more than $108 million in sports betting taxes in that time frame.
  • More than 98% of the revenue and taxes come from online sportsbooks, which launched a month later in March 2023.

Flashback: Before legalizing sports betting, lawmakers who supported the move cited projections that the state would bring in at least $60 million annually in tax revenue.

Zoom in: Like in many states, Massachusetts sportsbooks saw the highest activity during the NFL season.

  • Their collective monthly revenue peaked last month, reporting more than $71 million in taxable revenue in the weeks before the Super Bowl.
  • Again, the vast majority of the revenue came from online sportsbooks.

Reality check: Massachusetts' sports betting taxes make up a small share of the state's tax revenue.

  • The state relies on tens of billions of dollars in tax revenue.

Categoría:Sportsbook

Tags: Sin tags

País: United States

Región: North America

Event

Peru Gaming Show 2025

18 de June 2025

DS Virtual Gaming Drives Strategic Alliances and Regional Expansion in the Peruvian Market Starting at PGS 2025 

(Lima, SoloAzar Exclusive).- With an innovative virtual offering, DS Virtual Gaming is positioning itself as a key player in the growth of the Peruvian gaming market. The company presented agile solutions for physical locations, highlighted the HD quality of its videos, and reaffirmed its commitment to local technical support. Discover how it plans to conquer new markets in Latin America in this interview with Jessica Quevedo, Head of Business Development LatAm. 

Thursday 10 Jul 2025 / 12:00

"Regulation of Remote Gaming and Remote Sports Betting in Peru": Conference at PGS 2025

(Lima, SoloAzar Exclusive).- Peru Gaming Show 2025 was once again the scene of valuable conferences on the present and future of Gaming within the Latam region. In this context, the lawyer and specialist in corporate and regulatory law, Constante Traverso was the speaker at the conference that gives title to this article, where he presented a critical look at the legal, tax and compliance aspects that affect the sector, as well as its benefits and sustainable development.

Thursday 10 Jul 2025 / 12:00

Air Dice Consolidates Its Presence in Peru: Regional Outreach and Strengthened Ties at PGS 2025

(Lima, SoloAzar Exclusive).- Air Dice reaffirms its strategic commitment to the Peruvian market during its participation in Peru Gaming Show 2025. Rocío Moitino, Director for Latin America, shared how this event not only boosted the company's regional expansion but also deepened its closeness with key operators, in an environment that focuses on regulation, innovation, and cross-sector collaboration.

Thursday 10 Jul 2025 / 12:00

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