Rome wasn’t built in a day. Neither was sports wagering in Massachusetts, though the first day of operations proved inauspicious at Encore Boston Harbor’s WynnBET retail sportsbook.
The Massachusetts Gaming Commission (MGC) released figures Wednesday for the Jan. 31 launch of sports wagering in the Bay State at its three retail sportsbooks. Encore accounted for close to three-quarters of the state’s $511,000 handle, with nearly $371,000 worth of accepted wagers, but its gross revenue loss of $73,303 was the overwhelming reason there was a small overall deficit statewide on the first day of action.
MGM Springfield and Plainridge Park fared much better, with Plainridge’s Barstool Sportsbook-powered venue posting a staggering 64.9% hold to claim $54,000 in winnings from $83,000 wagered. MGM landed between the two other books, as its 21% hold provided $12,300 in gross revenue from $57,000 handle.
Inauguaral January #SportsBetting numbers for #Massachusetts via MGC. One day of wagering on 1/31 = January wagering.
Handle: $510,948
GGR: -$7,248
GGR Win Rate: -1.42%
AGR: -$8,523
AGR WR: -1.67%
Taxes: $9,861More to come. #GamblingTwitter
— Chris Altruda (@AlTruda73) February 15, 2023
The two venues generated $9,861 in tax receipts, based on the state’s levy of 15% on adjusted revenue. Plainridge Park contributed the bulk of that total with more than $8,000. The MGC did not provide operator handle and revenue details by sport category in its reports.
Massachusetts has targeted March 10 for mobile sports wagering to launch, with 11 digital platforms expected to be operational. MGC Executive Director Karen Wells is hopeful staff will finalize licenses for those operators — Bally Bet, Barstool Sportsbook, BetMGM, Betr, Betway, Caesars Sportsbook, DraftKings, FanDuel, PointsBet, Fanatics, and WynnBET — by Feb. 23.
If all goes according to plan, operators would be live for six days before the first round of the NCAA Tournament, the largest non-single event for wagering in the United States.
