In the latest sports betting and casino news, the Massachusetts gambling market performs well in October. The local market generated a gambling revenue increase of 11.2% compared to the previous month. According to the latest report from the Massachusetts Gaming Commission, the gross gaming revenue (GGR) for the state is at $155.8 million for October. This is quite the jump from September’s GGR of $140.1 million.
Casino Numbers and Revenue
For Casino gaming (tables and slots) the GGR is at $96.670 million for the month. It is much higher than September’s $90.389 million. It continues to be a very profitable market, consistency delivering revenue in the same range over the past year or so. This is why when you build a sportsbook, using bookie software that also offers casino software is a must-have. Casino gaming is a profitable income stream for many who are also in the sports betting business.
While the state’s casinos have seen better numbers the past year, this is not the lowest the state has seen. In fact, out of the revenue from casino gaming, the state will be collecting around $39 million in tax revenue. This is a number that other states would want to see from their respective casino markets.
Sports Betting Handle and Revenue
As for sports betting, the total monthly handle for the month sits at $571.767 million. Another huge jump from September’s $512.177 million for the state. Out of the handle, $16 million come from retail sportsbooks, while online sportsbooks collected $555.728 million. So when learning how to become a bookie, make sure you start learning about how you can easily manage an online sportsbook as it is the more lucrative platform.
Out of the handle, the hold percentage sits at a nice 10.59%, giving us a total GGR of $59.177 million. It is also worth noting that this is the highest monthly handle the state has ever seen since its launch back in January. October tends to be a very good month for bookies, since you have the convergence of four major sports in the US: baseball, football, basketball, and hockey.