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.
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 – PGS 2026
17 de June 2026
Regulation and the Black Market in Latin America: Challenges and Solutions
(Lima, SoloAzar Exclusive).– As part of the Peru Gaming Show (PGS) 2026 conferences, gaming industry leaders analyzed one of the main challenges currently facing regulated markets in Latin America: the growth of illegal gambling. The panel "Regulation and the Black Market: Challenges and Solutions" brought together Carlos Fonseca, CEO of Gaming Law, as moderator; Neil Montgomery, founding partner of Montgomery & Associados; Tatiana Vásquez, founding partner of Vázquez Asociados; Karen Sierra Hughes, Vice President for Latin America, the Caribbean, and Spain at GLI; and Vanessa Cabrera, Director of the Control and Sanction Directorate of the DGJCMT-MINCETUR, who debated the causes of the black market, the available regulatory tools, and strategies to strengthen channeling toward legal gaming in the region.
Wednesday 15 Jul 2026 / 12:00
Fernando Polti, Founder & CTO of IAG Play, talks about everything related to Peru Gaming Show
(Lima, SoloAzar Exclusive).- Fernando Polti, Founder & CTO of IAG Play analyzes the company's participation in Peru Gaming Show, highlights the expansion of its terminal ecosystem and anticipates the company's next projects to consolidate its presence in Latin America during 2026.
Monday 13 Jul 2026 / 12:00
APADELA and the Future of Sports Betting in Peru Following Regulation
(Lima, SoloAzar Exclusive).- During the Peru Gaming Show 2026, Gonzalo Rosell, President of the Peruvian Association of Online Sports Betting and Related Activities (APADELA), analyzed the current state of the Peruvian remote gaming and sports betting market following the implementation of the regulatory framework. In his presentation, “Current Situation of the Remote Gaming and Sports Betting Industry Post-Regulation in Peru,” the executive highlighted the tax challenges facing the formal industry and called for a review of the selective consumption tax.
Friday 10 Jul 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.
