This is the second straight month that Massachusetts sportsbooks have seen an increase in sports betting, as well as better revenue figures. During this time of the year, basketball tends to attract a lot of wagers in sportsbooks across the country. According to the Massachusetts Gaming Commission, the total monthly sports betting handle for the state during April is $579.3 million. This is higher than March’s handle of $568.2 million.
Some may find it odd that the April handle is higher than that of March. Historically, betting markets across the country tend to record higher numbers in March than April. However, online sports betting in the state went live towards the last half of the month. So, assuming that sportsbooks were operating for the whole month, March’s handle would have been higher. When you want to be an online bookie, these are the trends you should know. This will help you track and monitor your sportsbook’s activity better.
Massachusetts Sportsbooks Numbers for April
And even though we are looking at less activity in April, any pay per head bookie software user will still be able to earn well, as long as your sportsbook runs smoothly. For instance, in the case of Massachusetts, gross revenue for April is at $60.3 million. This gives us a 10.41% hold percentage for sportsbooks. This is definitely a good increase in revenue. March’s revenue is at $48.3 million with a 10.35% hold.
The taxable revenue in April is $58.9 million, much higher than March’s $47.1 million. This means that the state, while it collected $9.4 million in March, April’s tax collection is higher at $11.8 million. Of course, if you have a business using a sportsbook pay per head service, then you know that online wagering tends to fare better than retail betting. For Massachusetts, online sportsbooks took in $566.2 million in wagers, and $59.9 million in revenue.