Massachusetts wrapped up its first year of sports wagering in record-setting fashion after the state’s gaming commission reported all-time monthly highs for handle and gross revenue for December on Tuesday.
Sportsbooks in the Bay State accepted $658.7 million worth of wagers to close out 2023, an increase of $4.3 million from November’s short-lived standard of $654.4 million. Massachusetts had an overall handle of $4.97 billion for the year, falling short of $5 billion due only because betting apps were not available until right before the NCAA Tournament in March.
Operators completed the double of monthly record totals with $62.2 million in gross revenue, an increase of $88,666 on May’s previous high. It was the third time Massachusetts sportsbooks topped $60 million in revenue, as the three retail venues and eight digital apps combined for close to $483.7 million for the full year.
The hold landed at 9.4% for December, just off the year’s mark of 9.7%. The state was able to tax $60.6 million in adjusted gross revenue, resulting in a windfall of $12 million-plus into state coffers. The 15% tax on retail operator revenue and 20% levy on mobile operator winnings generated $93.9 million in state taxes, well above the initial annual estimate of $60 million that lawmakers offered during the path to legalization.