- A BetMassachusetts study is expecting 2.2 million residents to wager a total of $5.3 billion on sports in 2023.
- Massachusetts online sports betting launched last Friday, with 8.1 million in geolocation checks performed and 406,400 new accounts created.
- State law allows a retail sportsbook at each of the three casinos and 2 state-licensed racetracks plus 15 total online sportsbook operators.
Nearly half of the population in Massachusetts is expected to place a legal wager in the state’s newly opened sports betting market.
That’s according to a survey conducted by sports betting info website BetMassachusetts, which revealed that over 2 million adults from the Bay State are anticipated to wager a total of $5.3 billion on sports this year.
Massachusetts legal sports betting went live last January 31 with the retail option only. Last Friday, the state commenced its online sports betting activities after a long wait.
Sports Betting Preferences Among Massachusetts Residents
The survey, titled Sports Betting Preferences Among Massachusett Residents, was conducted in early January 2023 in anticipation of the launch of legal online sports betting in Massachusetts.
It revealed that 41% of the adult population in the state or 2.2 million adults were “likely” or “very likely” to place a legal wager once the market launches. A total of $5.3 billion is expected to be wagered in 2023, including $210 million during March Madness.
https://t.co/2hnFITWGB6 Research Shows Over 2 Million Bay State Residents Expected to Wager $5.3 Billion on Sports Upon Mobile Sports Betting Launch in 2023 – https://t.co/ZE2LJAVV9W #Massachusetts #sportsbetting #mobile #March #MarchMadness #launch
— Sweet Lou Monaco (@loumonaco) March 10, 2023
More than 26% of residents also said that they currently bet on sports, while 28% have traveled to surrounding states such as New York, Connecticut, New Hampshire, and Rhode Island to place a legal wager.
Additionally, 37% of those surveyed said that they would place a sports bet “at least weekly” while 38% anticipate betting at least once a month or multiple times a year.
20% of Massachusetts residents also said that they would bet on awards shows like the Oscars, if these betting markets would become available. 22% would also bet on Reality shows while 19% would bet on the U.S. Elections, although betting on Political events in the U.S. is currently not allowed.
BetMassachusetts also said that DraftKings Sportsbook was the preferred sportsbook of survey respondents, with 57% of the population picking the Boston-based sports betting company. DraftKings’ rival FanDuel was next with 33.6% of the respondents’ votes. BetMGM Sportsbook came in third with 15.1% while 11.3% picked Caesars Sportsbook.
Last month, BetMassachusetts also conducted a study on the most searched sportsbook by Massachusetts residents and once again, DraftKings reigned supreme with 20,000 more searches than the next closest sportsbook which was WynnBET. BetMGM, FanDuel, and Caesar Sportsbook completed the Top 5 most searched sportsbooks.
Massachusetts Legal Online Sports Betting Off to a Strong Start
Legal online sports betting launched in Massachusetts last Friday with six approved operators: Barstool Sportsbook, BetMGM, Caesars Sportsbook, DraftKings, FanDuel, and WynnBET. It didn’t take long before the industry took off.
According to GeoComply, a total of 8.1 million geolocation transactions were recorded and 406,437 player accounts were created in the Massachusetts area from March 10-12. Those numbers are impressive when compared to the debut of other states with bigger populations.
Legalized online sports betting is now live in Massachusetts! Congrats to the @MassGamingComm and to our partners, who we proudly support 🙌
Sports betting tax revenue will go towards education, infrastructure, and non-profit organizations in the Bay State. pic.twitter.com/Nt4W8aXRXb
— GeoComply (@GeoComply) March 10, 2023
Virginia, whose population of 8.7 million is 1.7 million more than Massachusetts, launched with 4.4 million geolocation checks and 179,305 unique accounts created. Meanwhile, Arizona which has a population of 7.4 million posted 5.0 million geolocation checks and 174,091 new accounts.
In addition, GeoComply also said that 5,000 online transactions were blocked because they came from accounts or devices with a history of fraud. It also noted that officials from the Commonwealth expect to generate $60 million in annual tax revenue from legal sports betting.
That would provide an estimated $5.4 million to the Public Health Trust Fund, which supports problem gambling programs, which have been in place since the state legalized gambling in 2011. Last year, that fund had a budget of $22 million.
Legal Sports Betting Launched Two Weeks Before the Super Bowl
Legal sports betting went live in Massachusetts at 10:00 a.m. last January 31, 2023, or two weeks before Super Bowl LVII. At the time of launch, sports betting was limited to three retail sportsbooks located at the state’s three casinos: Encore Boston Harbor, MGM Springfield, and Plainridge Park.
Encore Boston Harbor currently operates a WynnBET sportsbook with 10 betting windows and 115 self-service sports betting kiosks. MGM Springfield has a 4,586 square foot “first-class sports betting lounge” with stadium seating, a 45-foot viewing wall, enclosed wagering counters, and self-service kiosks.
On the other hand, Plainridge Park opened with a temporary Barstool Sportsbook with 18 kiosks and 5 betting windows.
One month ago, the Massachusetts Gaming Commission released the total for the January 31, 2023 opening of legal sports betting in the Bay State. According to the MGC, a total of $510,948 was wagered in the three sportsbooks located at the state’s casinos. Encore Boston Harbor accounted for three-fourths of the total.
Aside from the three casinos, the state’s two Category 2 racetracks, Raynham Park and Suffolk Down, also have approved retail sports betting licenses and are expected to open their respective sportsbooks later this year.
Per state law, a total of 8 online sportsbook operators are allowed to be tethered to the five retail sportsbook locations in Massachusetts. The MGC is also allowed to issue 7 untethered online sports betting licenses, which means that there will be up to 9 more internet sports betting operators once the industry is at full capacity.
