Mass Sports Betting Generated $455M in Handle for Month of May
Gambling911.com is here in the Bay State of Massachusetts this week and we can report that sports betting generated $455 million in handle at retail and online sportsbooks during the month of May, representing an 18 percent drop from April.
Online sports betting handle accounted for $443.5 million of the monthly total. The statewide hold was 13.6 percent.
Massachusetts handle was second best in the nation:
1 New York $1.36B
2 MASSACHUSETTS ~$455M
3 Maryland $320.2M
4 Indiana $283.4M
5 Tennessee $279.8M
6 Iowa $147.72M 7 Oregon $52.12M 8 West Virginia $31.91M 9 Washington DC $12.53M 10 Montana $4.46M
DraftKings led the pack among operates. The company has long called Massachusetts home.
SportsHandle picked up on something interesting. MGM Springfield paid out more in winning wagers than it took in bets for the second consecutive month. They do note that =the $23,538 loss on $1.9 million handle was far slimmer than April’s loss of more than $228,000 on $1.7 million in accepted bets.
Encore Boston Harbor enjoyed its first double digit hold percentage since sports betting became legalized in the state a few months ago.
Fanatics entered the market during the final week of May and took in over $123,000 in bets.
Betr, known for its microbetting, started operating May 10 and had a handle just shy of $593,000.
- Gilbert Horowitz, Gambling911.com
