Massachusetts' sports betting revenue dropped to its lowest point of the year in August, but the state still saw year-over-year growth in both revenue and total bets placed.
In August, combined taxable revenue from online and retail sports betting in Massachusetts totaled $33.3 million. This is 51.4% higher than the same time last year, but 19.2% lower than July, making it the lowest month so far this year.
Online betting made up $32.9 million of the total, while retail betting contributed just $381,134.
In August, players spent a total of $447.3 million on sports betting in Massachusetts, both online and in retail. This was 42.1% higher than last year and 8.6% more than the $411.8 million wagered in July.
Online bets made up $439.7 million, while $7.6 million was spent at retail sportsbooks. The overall hold rate for the state in August was 7.71%, with online slightly higher at 7.74% and retail lower at 6.12%.
DraftKings still the one to beat in Massachusetts
DraftKings continued to lead the Massachusetts online betting market in August, making $16.2 million from $229.4 million in bets, with a hold rate of 7.33%.
FanDuel came in second with $10.7 million in revenue but had a higher hold rate of 9.26% on $118.2 million in bets.
BetMGM performed well too, earning $2.3 million from $31.1 million in bets with a 7.56% hold. Newcomer Bally Bet, which launched in July, had the highest hold rate at 9.39%, earning $222,372 from $2.4 million in bets.
For retail betting, Plainridge Park Casino led the pack with $196,980 in revenue from $2.7 million in bets, resulting in a hold rate of 7.47%.
Casino revenue hits five-month high
In August, Massachusetts land-based casinos brought in a combined gross gaming revenue (GGR) of $103.3 million, up 5.5% from last year and 3.8% higher than July. This marks the highest monthly total since March.
Slots generated $69.0 million in GGR, while table games added $34.3 million.
Encore Boston Harbor led the casino market with $64.9 million in revenue, including $35.9 million from slots and $29.0 million from table games.
Total revenue from sports betting and casino gaming reached $136.6 million for August. The state collected $36.0 million in taxes, with $6.6 million from sports betting and $29.3 million from casinos.
