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

Uplatform Brought "Your Dreams. Our Platform" to Life at SBC Summit Lisbon 2026

(Limassol).- At Stand D215, Uplatform turned operator visions into reality during SBC Summit Lisbon 2026, blending standout experiential design with cutting-edge iGaming solutions.

Friday 09 Oct 2026 / 12:00

Kambi Highlights Network and LatAm Growth at SBC Summit

(Lisbon, SoloAzar Exclusive).- Mateo Lenoble, Head of Sales LatAm at Kambi, spoke to SoloAzar during SBC Summit 2026 in Lisbon about the company’s objectives at the event, the business opportunities emerging across Latin America, and the meaning behind its refreshed “Powerful Network. Proven Edge.” positioning.

Friday 09 Oct 2026 / 12:00

GR8_TECH Highlights Speed and Growth at SBC Summit 2026

(Lisbon, SoloAzar Exclusive).- Vardan Hakobyan, Head of Sales at GR8_TECH, spoke to SoloAzar during SBC Summit 2026, held from September 29 to October 1 at Feira Internacional de Lisboa, about the company’s objectives for the event, the business opportunities generated, its strategy in Latin America, and its priorities for the coming months.

Friday 09 Oct 2026 / 12:00