The Massachusetts Gaming Control Board (MGCB) has reported an overall 6.8% handle growth month-over-month from July to August.
Handle grew from $294.9 million in July to $314.9 million in August, conforming with expectations as countrywide sports betting began to ramp up ahead of the start of the NFL season.
Massachusetts retail betting saw a 12.8% increase in handle, rising from $6.8 million to $7.7 million in August. The increase in wagers settled came from MGM Springfield and Encore Boston Harbor, as Plainridge Park Casino experienced less activity than in July.
Despite an increase in activity, July’s strong hold percentage was not replicated in August. A sharp 72.6% decrease in taxable revenue occurred month-over-month, seeing retail establishments post just $157,782 in August, down from $576,139 in July. Tax collected from the three licensed casinos was the lowest since launch (with full-month operations), with $32,356.10 being paid in tax from sports betting.
MA mobile betting comprised 97.6% of all wagering in the state and once more the main players were DraftKings and FanDuel. A downwards trend continued for FanDuel in terms of handle market share, with the company’s handle share falling from 29.9% to 25.8%. In contrast, DraftKings took 52.7% of all MA mobile wagers.
Other gains came from Caesars, up from 3.9% market share to 4.8% and Penn (Barstool, transitioning to ESPN) up from 4.0% to 5.4%. In addition, those optimistic about the chances of Fanatics will find an 87.0% increase in handle from $2.4 million to $4.4 million a positive sign.
The results for August take the total handle in Massachusetts over $2.5 billion since sports betting was passed into law. September will be the first full month of NFL wagering in MA. The New England Patriots are six time Super Bowl champions but have stuttered to a 0-2 start after defeats to both the Miami Dolphins and Philadelphia Eagles.