The Massachusetts Gaming Commission reported $59 million in gross sports betting revenue for May on Monday as the commonwealth’s six mobile operators combined for a collective 10.1% hold.
Despite the double-digit win rate and handle increasing 29.1% year-over-year to $587.3 million, revenue was down 4.9% compared to May 2023. This year’s 10.1% overall hold was 3.6 percentage points lower than last year, which was an all-time high of 13.6%. Revenue was up 16.6% from April’s haul of $50.6 million, with handle only 2.7% lower.
The Bay State was able to levy taxes on $57 million in adjusted gross revenue, which resulted in an inflow of $11.5 million into state coffers. The $55.3 million in receipts through the first five months of 2024 is $21.7 million ahead of last year’s pace, though it is not a like-for-like comparison since wagering did not begin in 2023 until Jan. 31, and mobile sports betting apps were not available until mid-March.