Massachusetts sports betting enjoyed a successful month in August, accepting $545.3 million in wagers, 21.9% more than the $447.3 million it brought in during the same period a year ago.
Taxable gaming revenue also experienced an enormous improvement, increasing 67.4% year-over-year from $33.3 million to $55.8 million.
Key Takeaways
- Revenue soared in part thanks to the return of college football
- The conclusion of the “dead season” means that sportsbooks’ totals should improve again in September
- DraftKings, headquartered in Boston, dominated the market again
The recent figures were confirmed in the Massachusetts Gaming Commission’s monthly revenue report.
The $545.3 million handle was the highest recorded in one month in the Bay State since the $645.7 million that was reported in May, the final month before the “dead season” in professional sports.
The $55.8 million in revenue was the third-lowest of the year, only beating July and March.
The state collected $11.1 million in taxes based on its rate of 20% for online and 15% for in-person wagers.
The vast majority of Massachusetts sports betting occurred online, with mobile sportsbooks reporting 98.6% of the handle and 98.8% of monthly revenue.
Including casino gaming, Massachusetts’ gambling market produced $160.8 million in gaming revenue and $41 million in monthly taxes in its entirety.
Breaking down the performances
| Operator | Handle | Revenue |
|---|---|---|
| DraftKings | $275.9 million | $28.7 million |
| FanDuel | $129.3 million | $13.8 million |
| Fanatics | $49.5 million | $5 million |
| BetMGM | $46.2 million | $4.7 million |
| Caesars | $16.6 million | $1.1 million |
| ESPN Bet | $15.8 million | $1.5 million |
| Bally Bet | $4.2 million | $337,118 |
Boston-headquartered DraftKings dominated August just like it did in July, reporting a $275.9 million handle and $28.7 million in revenue. Both of those totals were more than twice as much as second-place FanDuel reported for the month and represented year-over-year increases of 20.3% and 76.6%, respectively.
Speaking of FanDuel, the Flutter-owned sportsbook was still well clear of the third-place finisher. The company reported a $129.3 million handle and $13.8 million in revenue, up 9.3% and 29.2% year-over-year.
Fanatics stole a podium position with $49.5 million in handle and $5 million in revenue. Those marks were up 91.5% and 222.2% year-over-year.
BetMGM finished in fourth and just behind Fanatics with a $46.2 million handle and $4.7 million in revenue, up 48.5% and 105.3%, respectively.
Caesars and ESPN Bet finished within range of one another, reporting handles of $16.6 million and $15.8 million. Despite having a lower volume, ESPN Bet reported $1.5 million in revenue to Caesars’ $1.1 million.
Bally Bet reported a $4.2 million handle and $337,118 in revenue. Despite being the lowest marks of the month, both were significant improvements on August 2024’s totals.
Massachusetts regulator fights Kalshi, Robinhood
Massachusetts has one of the most lucrative gaming markets in the country. Despite its success, it has found itself in a legal suit with popular prediction markets platforms Kalshi and Robinhood.
Days after Massachusetts Attorney General Andrea Joy Campbell announced the state submitted a lawsuit against Kalshi, Robinhood joined its prediction partner. The platforms want to block the state’s gaming regulators from outlawing and taking action against outlets offering sports event contracts.
