Approximately 8.1 million geolocation transactions were conducted in Massachusetts during the inaugural mobile weekend.
Massachusetts made its foray into mobile sports betting on March 10, 2023, with six licensed operators – Barstool Sportsbook, BetMGM, Caesars Sportsbook, DraftKings, FanDuel, and WynnBET – ready to take bets. The first weekend of operations saw over 8 million geolocation transactions, outperforming similarly sized jurisdictions, according to data from the Massachusetts Gaming Commission's FY2024 report.
However, the initial weekend's transactions were significantly lower than some established markets. States such as New Jersey, Nevada, Pennsylvania, Michigan, Illinois, Indiana, and Colorado, which have had years to grow their betting transactions, likely surpassed Massachusetts. These states are well-known for their strong sports betting markets and early adoption of mobile betting.
GeoComply SVP of Compliance, Lindsay Slader, expressed her company's pride at being licensed in Massachusetts, supporting operators and the Massachusetts Gaming Commission in building a regulated online sports betting market.
In the world of sports, the Boston Celtics are a top contender in the Eastern Conference with a record of 47-22, while the Boston Bruins, with a record of 50-10-5, are an historic winner in the NHL and are the odds favourite across multiple sportsbooks to win the Stanley Cup.
Meanwhile, the NCAA Tournament begins this week, attracting bettors from Massachusetts, despite no men's basketball teams from the state qualifying. Teams from the Northeast, including national title contender UConn, have spots in the men's and women's tournaments.
Interestingly, during the same period, Virginia, Arizona, Indiana, and Maryland had fewer geolocation transactions than Massachusetts, despite having similar or larger populations. This suggests that the Massachusetts market has strong potential for growth in the coming months and years.
As the market matures, it is expected that Massachusetts will close the gap with the more established markets, providing a boost to responsible gambling programs and the state's budget, as promised by the legal online sportsbooks.
- Massachusetts, with its six licensed operators like Barstool Sportsbook, turned the tide for mobile sports betting on March 10, 2023.
- The new market, however, fell short compared to established ones like New Jersey, Nevada, Pennsylvania, and Colorado, which had years of growth in betting transactions.
- GeoComply, a company providing geolocation solutions, takes pride in being licensed in Massachusetts, supporting the jurisdiction's sports betting market development.
- In the sports arena, the Boston Celtics and Boston Bruins are making waves, with the Bruins favored to win the Stanley Cup across multiple sportsbooks.
- As the NCAA Tournament kicks off, bettors from Massachusetts show interest, although no men's basketball team from the state qualified.
- Interestingly, Virginia, Arizona, Indiana, and Maryland, with similar or larger populations, had fewer geolocation transactions during the same period, indicating potential growth in Massachusetts' sports betting market.
- As the Massachusetts sports betting market matures, it is predicted to bridge the gap with more established markets, contributing to responsible gambling programs and the state's budget.
