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During the month of April, a cumulative handle of $546.2 million was reported by the six active online sportsbooks in Massachusetts. This indicates that sports enthusiasts in MA wagered an average of over $18 million daily.
In the inaugural month of Massachusetts online sports betting, approximately $25 million was wagered daily in March, serving as a point of comparison.
While the decrease of $7 million per day is significant, April’s daily betting figures provide a more accurate average portrayal of the Massachusetts sports betting market compared to the numbers observed in March.
Here’s why.
Big opening push during launch
After an extended period of anticipation, Massachusetts sports enthusiasts were thrilled when their state finally legalized sports betting. Without any delay, eager bettors enthusiastically embraced the opportunity to participate in the thrilling activity.
With the high level of anticipation and excitement, it is expected that there would be a higher amount of money being wagered per day during the initial month of Massachusetts online sports betting. This is particularly true due to the attractive one-time welcome promotions offered by Massachusetts sportsbooks, which are being eagerly taken advantage of. It is common for launch months to experience distorted data due to the large number of new bettors joining in.
Additionally, the commencement of the online betting sector in Massachusetts occurred on March 10, coinciding with the commencement of March Madness just a few days later. March Madness stands as one of the most significant annual sporting events, capturing immense interest within the betting realm.
Despite the absence of an in-state men’s team, bettors in Massachusetts eagerly embraced March Madness betting, going all-in. The captivating allure of March Madness entices even the most casual sports enthusiasts, thus it is no surprise that this major betting event significantly contributed to the increased daily handle in March.
Massachusetts witnessed significant attention surrounding the introduction of sports betting, with particular emphasis on the promotional efforts of DraftKings, FanDuel, and BetMGM. These advertisements specifically targeted the Massachusetts audience and showcased a plethora of renowned personalities and athletes associated with the state, such as Rob Gronkowski, David Ortiz, Zdeno Chara, and Kevin Garnett, among others.
If you happened to catch a live sporting event in Massachusetts this spring, it’s highly likely that you were exposed to advertisements from sportsbooks.
In conclusion, the betting handle of nearly $25 million per day in March was an exceptional occurrence due to the various factors involved in the launch.
DraftKings extends its lead over FanDuel in April’s Massachusetts sportsbook handle and revenue.
Why April’s numbers are better average representation
It is anticipated that April’s daily betting handle of $18.2 million could serve as a benchmark for Massachusetts’ future expectations. Play MA had previously estimated that a well-established sports betting market in the state could potentially achieve a handle of $5.7 billion.
Approximately, it would amount to $15.6 million per day.
April lacked the excitement of anticipation and lacked significant betting events such as March Madness. Although the MLB season had commenced and the NBA playoffs were underway, these events did not generate as much industry interest as major events like March Madness or the Super Bowl. Nonetheless, betting on NBA and NHL playoffs remained highly popular.
During the period leading up to the football season, it would be reasonable to expect the daily betting handle in Massachusetts to range between $10 million and $18 million, with lower figures anticipated during the summer months.
Once college football and NFL betting in MA commences this fall, there will be a noticeable surge in handle. The NFL attracts more betting interest than any other sports league. Play MA forecasts that Massachusetts could witness a handle ranging from $350 to $400 million per month throughout the football season. This implies that a staggering amount of $11 to $13.5 million could be wagered on football alone every single day.
For now, April’s betting numbers provide us with a solid preview of what the Massachusetts sports betting market may become, but ultimately, only time will reveal its true shape.
If you or someone dear to you is facing issues related to gambling, please reach out to a trained specialist for free assistance at 1-800-327-5050 or visit www.mahelpline.org/problemgambling. Support is available 24/7.
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