MGC report details economic, public health impacts in first year of MA Sports Wagering
- July 26, 2024
- by MGC Communications
- 0 comments
The first year of legalized sports wagering in Massachusetts has produced significant economic impacts and highlighted a commitment to responsible gaming, according to a report released by the Massachusetts Gaming Commission. Since the launch of retail and mobile operations in early 2023, the industry has reshaped the state’s financial landscape and employment sector.
The numbers tell a compelling story: nearly $600 million in gross gaming revenue has been generated from over 1.6 million active accounts in the Commonwealth. This activity has translated into $118.5 million in tax revenue for the state, alongside $204,700 in intercepts from the Department of Revenue.
>>Related: Check out the MGC’s Revenue Report Archives
Super Bowl LVII, a major event in the sports calendar, showcased the potential of sports wagering. Around 3.3 million bets were placed on this one game, resulting in $9 million in gross revenue. Of this amount, $1.8 million was collected in taxes.
The Bay State has prioritized responsible gaming alongside the introduction of sports wagering. In the first year alone, there were nearly 90,000 inquiries related to play management and responsible gaming. More than 38,000 active Massachusetts accounts are utilizing available options for play management limits, while an additional 8,728 accounts have employed temporary prohibitions. These figures highlight the state’s commitment to safe and responsible gaming practices.
The sports wagering industry has also created new job opportunities and supported businesses across the state. More than 100 Massachusetts residents have joined the sports wagering industry workforce in the last year, while nearly 4,500 minorities and more than 3,300 women have become employed in the new Massachusetts industry, reflecting its commitment to diversity and inclusion. Additionally, sports wagering operations have reported spending $48.3 million with various diverse vendors and suppliers, contributing to the broader state economy.
>>MORE: Sports Wagering in Massachusetts
To learn more about the state’s first year of sports wagering and to read the report, click here.