The Massachusetts Gaming Commission’s monthly report has once again shown MA sports betting to be up there with the strongest in the United States. The combined handle across the three brick and mortar locations and eight mobile skins was just shy of $333 million for the month of June.

MA fails to escape the June slump

Despite $333 million handle being a 27% decrease month-over-month to May, Massachusetts slotted in (at the time of reporting) third in the United States (pre-PA sports betting, IL sports betting etc). New York sports betting still remained at the forefront. Retail wagering saw $8.5 million of wagers across the three casinos, representing just 2.5% of all sports wagers in the state.

With regards to revenue, gross revenue declined 46.8% month-over-month to just $33 million, owing to significantly lower hold than achieved in months prior. Following June’s tax receipts, Massachusetts as a state has now received just over $40 million in tax receipts from legalized sports betting.

What does the corporate landscape look like?

June marked Fanatics’ first full month of operations in MA online sports betting. For the limited time it was accepting wagers in May, it took $123,108. In June, it took $1,897,494 in wagers settled. It positions itself immediately above Betr, which continues to sit bottom of the table with a further decrease in wagers settled to $290,000.

Interestingly, all retail locations had an exceptionally low percentage hold when compared to online counterparts. MGM Springfield managed a 4.18% revenue hold, whereas Encore Boston Harbor managed just 2.03% and Plainridge Park Casino just 1.47%.

DraftKings continued to lead the way online with 49% of all wagers settled with $159 million, at a hold rate of 9.74%. In second place was FanDuel, with $96 million handle at 11.67% hold. The worst hold across the industry was Betr, with 3.97% – handing over just $2,165 to the state in tax. Online tax received by MA was $6.4 million.

Massachusetts legalization of sports betting has likely damaged the handle received by Connecticut sports betting, New Hampshire sports betting and Rhode Island as incumbents no longer have to venture cross-border.