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In February, Massachusetts has the fewest sports bets in eight months.
In Massachusetts, player spending on sports betting dropped to its lowest monthly level since July of last year in February. However, the state was able to report growth from one year to the next in both handle and taxable income.
In February, people who bet on sports in Massachusetts spent a total of $628.2 million (£484.5 million/€578.5 million). This was 15.8% more than last year, but it was 17.6% less than Massachusetts's January betting amount.
The Massachusetts Gaming Commission said yesterday (20 March) that online handle went over $618.6 million in February. A total of $9.6 million was bet at retail bookies.
The taxable income from games came to $65.6 million. That was 24.7% more than the previous record set in February, but 30.5% less than the record $94.4 million made in January.
To break this down, the total amount of money made from online bets was $65.4 million. About $205,391 of the total monthly amount in Massachusetts came from the retail industry.
In February, the national hold rate was 10.44%.
DraftKings can't be stopped in Massachusetts.
DraftKings is still the clear online winner when looking at individual operators in the state. It made a total of $36 million from a $317 million handle, which is an 11.36% hold.
It was again FanDuel that came in second, with $19.2 million from $167.2 million in handle, or 11.48 percent of the pot. BetMGM finished in third place with $4.7 million off of $54.6 million, which is an 8.61% hold.
With a $33 million handle, Fanatics made $3 million in sales, which is a 9.09% monthly hold. ESPN Bet was the only other online business that made more than $1 million. They made $1.5 million from $22 million, which is a hold of 6%.
Caesars and Bally Bet both fell short of making $1 million in February.
In the retail market, MGM Springfield did the best, losing only $112,272 out of $1.3 million, which is an 8.56% hold. The Plainridge Park Casino made $93,119 from $3.3 million, which is a hold of 2.82%. However, Encore Boston did not make any money in February.
Land-based casinos are making less money.
The commission's monthly report also has information about Massachusetts's land-based casinos. February's $93.4 million in sales was 7.16 percent less than the same month last year and 4.66 percent less than January.
This amount was made up of $63 million from slots and $30,4 million from table games.
With $59.3 million in total casino gaming revenue, Encore Boston Harbour is still the industry leader. The MGM Springfield came in second with $20.9 million, going up against the $13.2 million won by Plainridge Park Casino.
The total amount of gambling tax that Massachusetts earned in February was $39.6 million. $13.1 million came from sports betting, and $26.5 million came from gambling in real-life casinos.
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