Massachusetts got plenty of bang for its sports wagering buck in March as its mobile launch contributed to an impressive overall handle of $568.1 million according to figures released Tuesday by the Massachusetts Gaming Commission.
The Bay State launched retail wagering Jan. 31 and generated $25.7 million handle in February across three retail sportsbooks. Mobile betting commenced March 10, less than one week before the first round of the NCAA Tournament, and the six licensed operators quickly served notice Massachusetts will be vying for a top-10 spot nationally for monthly handle among the 29 states and jurisdictions currently conducting commercial sports betting.
Considering mobile wagering was available for only two-thirds of the month, the strong handle augurs well for this fall’s NFL season.
The combined gross revenue from retail and mobile wagering totaled $48.3 million, equating to a solid 8.5% hold. After deductions, the state was eligible to collect taxes from $47.1 million in adjusted gross revenue. The 20% tax on the $45.6 million in mobile wagering revenue generated $9.1 million in tax receipts, while the 15% levy on retail revenue added another $218,000 to state coffers.