According to the latest data from the Massachusetts Gaming Commission, sportsbooks in the state enjoyed quite the jump in revenue in December. The Massachusetts sports betting revenue saw a 23% increase in revenue from the previous month- ending the year in a high note. If you want to see how your sportsbook performed last year, make sure to use your Sportsbook Pay Per Head software to generate the data you will need.
For Massachusetts, the total monthly handle for December 2023 is at $658.7 million. While this is just less than 1% higher than the previous month, this is the highest monthly handle the state has recorded. And while the month-on-month increase is very minimal, revenue more than makes up for it. The jump in revenue is accredited to the rise in the hold percentage for sportsbooks in the state. In November, the hold was a measly 7.7%, while December’s is 9.4%. While still short of the ideal double-digit hold, it was more than enough to boost revenue.
Massachusetts Sports Betting Revenue and Sources
One of the characteristics of a successful bookie is the ability to generate data, and know what to do with it. Thus, studying market behaviors, betting trends, and analyzing sports betting numbers are very important. For Massachusetts, monthly revenue jumps from around $49 million to $60.5 million. This is 23% higher month-on-month.
There are currently eight online sportsbook operators in the state, and the state also allows for retail sports betting in brick-and-mortar facilities. Sports betting in the state only launched in Marh 2023, so we are yet to see the total numbers for a full year of operations. But even without it, we can clearly see how popular sports betting is in the state.
And if you want a more general approach to gambling, you can always make use of the full slate of products your Bookie Pay Per Head Solutions provider offers. In Massachusetts, for instance, casino gaming is very popular. Brick-and-mortar casinos generated $103 million in revenue. This is 9.6% higher than the previous month. $68.7 million of the gaming revenue came from slots, while table games generated $34.3 million in revenue.
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