The Massachusetts Gaming Commission has announced sports betting numbers for the month of June, and it was another profitable month for the online sportsbooks. The total win rate for online sportsbooks in the state came in at just under 10%, and it snapped a streak of two straight months over that number.
While sportsbooks in the state of Massachusetts are performing better than the national average when it comes to the win rate, there wasn’t a ton of action during the month of June. Total sports betting handle came in at $332 million, that was a decrease of 27% from the previous month.
Online sports betting first went live in Massachusetts on January 31 of this year, and the state is nearing $2 billion in total handle. The decrease in betting action isn’t a huge surprise from May as this is always when betting tends to get slower throughout the country.
Despite the big dip in the total sports betting handle, Massachusetts was still able to collect over $6 million in tax revenue for the month. That number is now over $40 million since online sports betting launched back in January, and the state has exceeded expectations.
Things will really ramp up in Massachusetts against this Fall as the New England Patriots have a massive following in the state. Football is always king when it comes to betting, and the Patriots will deliver plenty of betting action.
DraftKings Continues to Lead the Way
FanDuel Sportsbook continues to be the online sports betting leader throughout the United States, but DraftKings is the king in the state of Massachusetts. DraftKings Sportsbook is based in Boston, and it was the leader in both online sports betting handle and revenue for the month.
DraftKings Sportsbook posted a total sports betting handle of $323.5 million in June, and it also posted a win rate of 9.7%. FanDuel Sportsbook won 11.6% of the wagers placed during the month of June, but it continues to try to find a way to cut into the market share that DraftKings has built up.
BetMGM Sportsbook is still behind when it comes to handle and revenue, but it led the way with a win rate of more than 14% for the month of June.
Bettors Doing Better In Person
For those that are betting in the state of Massachusetts, going to the retail sportsbooks in the state is the way to go. While online sportsbooks continue to put up some impressive numbers when it comes to the hold rate, that’s not the case with the retail books that are in operation.
MGM Springfield had the best win rate of the three retail sportsbooks at 4.2%, but it made less than $40,000 in total revenue. Encore Boston Harbor brought in the most betting action during the month of June with $4.5 million, but it won just 2% of those wagers.
Retail betting continues to make up a very small percentage of the total handle in the state of Massachusetts, and online sportsbooks are happy to keep it that way.
