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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

PGS 2025 exceeds all expectations with record attendance and strong support from public and exhibitors

(Lima, SoloAzar Exclusive).- The latest edition of Peru Gaming Show established itself as a key event in the Latin American gaming industry, with more than 5,000 daily attendees from 40 countries and a vibrant exhibition hall. Strategic conferences and high-level networking rounded out this historic edition. SoloAzar shares all the details in this interview with Joe López, CEO of AMG, the event organizer.

Wednesday 02 Jul 2025 / 12:00

PGS 2025 : Win Systems shines with Gold Club Colors and strengthens its leadership in casino solutions

(Barcelona).- Win Systems, a leading provider of technology for the gaming and entertainment industry, wrapped up a highly successful participation at the Peru Gaming Show 2025 (PGS).

Wednesday 02 Jul 2025 / 12:00

Amatic Returns to Peru with a Bang: New Jackpot Games and Bold Expansion at PGS 2025

(Lima, SoloAzar Exclusive).- After an eight-year hiatus, Amatic made a powerful comeback at the Peru Gaming Show 2025, unveiling its latest multigame titles and the thrilling ‘Lucky Link’ jackpot series. The company is betting big on Peru’s dynamic gaming scene. Read about the strong reception and big plans for LatAm growth in this interview with Lawrence Levy, Amatic Commercial Director for the Americas.

Wednesday 02 Jul 2025 / 12:00

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