Sportsbook

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

Tuesday 27 de February 2024 / 12:00

⏱ 1 min read

(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

SBC Summit 2026

29 de September 2026

GR8_TECH Hosts Over 200 Industry Leaders at Exclusive 'THE UNSCRIPTED NIGHT' in Lisbon

(Limassol).- During SBC Summit 2026, GR8_TECH gathered key partners and decision-makers at Palácio Chiado for an intimate evening designed to foster meaningful conversations and strengthen global iGaming partnerships

Thursday 08 Oct 2026 / 12:00

Amusnet Wins Multi-Channel Supplier Award at SBC Awards 2026

(Lisbon).- Amusnet celebrated its return to SBC Summit 2026 in Lisbon with a win in the Multi-Channel Supplier category at the SBC Awards, recognizing its ability to deliver solutions across online, live and land-based gaming.

Thursday 08 Oct 2026 / 12:00

WorldMatch Highlights SBC Summit 2026 Success and LatAm Growth

(Lisbon, SoloAzar Exclusive).- Gabriele De Lorenzi, Commercial Director at WorldMatch, spoke to SoloAzar following SBC Summit 2026 – The Greatest Show in Gaming, held from September 29 to October 1 at Feira Internacional de Lisboa and MEO ARENA, highlighting the company’s commercial objectives, new business opportunities, and the growing demand for localized and bespoke casino content.

Thursday 08 Oct 2026 / 12:00