Encore expecting sports betting bonanza
By Josh Resnek
Retail sports betting in Massachusetts could be better than a dream come true for the taxpayers of the Commonwealth.
Massachusetts is ready to start reaping the financial benefits of legalized sports wagering, according to Daiana James of the GDC Group.
“In just one day, Bay State bettors wagered half a million dollars – a good sign for a strong first year,” she reported in a wide ranging feature story and report about sports betting and its likely impact on Massachusetts.
“Using Arizona – another market of similar size that launched in similar circumstances – BetMassachusetts.com calculated first year financial projections for Massachusetts’s first full year of sports betting.
“Massachusetts can anticipate bringing in $5.2 Billion in handle (the gross dollar amount of wagers placed during a given time period) in its first year. This number would rank them ahead of industry pillars, such as Virginia ($3.2 billion), Tennessee ($2.3 billion), and Michigan ($1.9 billion),” she predicts.
She believes that March Madness, the nation’s pre-eminent college basketball betting extravaganza could bring in as much as $212 million during the NCAA Tournament.
She based that projection on a BETMassachusetts.com theory on how much bettors may spend.
What she did not predict is how of that several hundred million might be generated by Encore’s betting platform.
If Encore’s pre-eminence here in the gambling world holds true, about 60% of that expected total could go into Wynn Resorts coffers.
For more information, please visit: Massachusetts Sports Betting Could Rake In More Than $5 Billion In Year 1 (betmassachusetts.com).
These folks sound like they know what they are writing about.