- WynnBet held 3.14% of sports betting action in April.
- Success from the Boston Celtics may influence the low hold percentage.
- DraftKings and FanDuel continue their sportsbook market domination.
BOSTON – Bettors at WynnBet took control in April according to the most recent Massachusetts Gaming revenue report.
Taking in only $22.8 million in bets (the second-lowest of the six Mass online sportsbooks), WynnBet kept only $463,005.74 in revenue. This allowed bettors to keep almost 98% of their action.
For April, the revenue hold percentage averaged at 10.58%. Only Barstool (7.98%) and Caesars (8.66%) held less than 90% of bets taken for the month. Meanwhile, BetMGM led the group at almost 11%.
On the retail side, it was WynnBet’s host that locked in over half the handle. Encore Boston Harbor reported $7.98 million in bets placed but had a similar result to WynnBet.
But, even with a 3.14% hold, the $250,766 kept still exceeded the halfway mark for legal sports betting in person.
Mass. Sports Betting Revenue (In-Person): April 2023
|Sportsbook:||Betting Handle:||Taxable Revenue (15%):||Hold Percentage:|
|Encore Boston Harbor||$7.98 million||$230,808.00||3.14%|
Reliant On The Celtics
The Boston Celtics success in April could be a factor for bettors’ success over sportsbooks. Going 7-3 in April, the Celtics covered the spread eight times.
Only an underdog to the Philadelphia 76ers by four on April 4, the Celtics are underdogs for the first time since in Game 4 vs the Miami Heat.
Going 4-6 SU and ATS in May, the Celtics now find themselves with +1400 odds to win the NBA Finals down 0-3. Unless they can turn it around, the May revenue report should be a success for the Massachusetts sportsbooks.
- This marks the second straight month of DraftKings taking in over $250 million bets online. FanDuel, the next highest, saw their settled wagers decrease from $181 million (March) to $172 million (April).
- Barstool, BetMGM, Caesars, and WynnBet make up less than a fifth of the Massachusetts sports betting market. DraftKings and FanDuel hold roughly 81% of the industry.
- Massachusetts benefitted roughly $12 million in April from legal sports betting in Massachusetts. In total, $21.4 million marks the sports betting tax benefits for Mass.
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After spending time scouting college basketball for Florida State University under Leonard Hamilton and the University of Alabama under Anthony Grant, Michael started writing focused on NBA content. A graduate of both schools, he now covers legal sports betting bills, sports betting revenue data, tennis betting odds, and sportsbook reviews. Michael likes to play basketball, hike, and kayak when not glued to the TV watching midlevel tennis matches.