Sports betting in the Bay State saw a significant spike in March, both compared to the previous month and year-over-year.
With men’s and women’s college basketball dominating March, the Massachusetts Gaming Commission recently reported a monthly handle of $654.9 million, up 20.7% from February and 15.3% from March 2023, which didn’t include a full month of wagering.
Profits, however, didn’t match the uptick, as bettors lowered the online and retail sportsbooks’ hold from 9.9% in February to 7.3% in March. Gross revenue reached $47.8 million while the taxable revenue of $46.2 million was down 12% month-over-month.
The Bay State filled its coffers with $9.2 million in March tax revenue, down more than $1.3 million from February.
Reaching new heights
Since online sports betting launched in March 2023, the latest monthly handle is the second highest for Massachusetts, trailing only December’s figure of $658.7 million.
The amount wagered in March surpassed January’s $651.7 million for the top handle of 2024 and gave the Bay State its fourth month with a handle over $650 million. Massachusetts is getting close to $7 billion wagered all-time through sports betting.
| Operator | March Handle | March Gross Revenue |
|---|---|---|
| DraftKings | $323 million | $23.5 million |
| FanDuel | $190.4 million | $15.7 million |
| BetMGM | $45.5 million | $3.1 million |
| ESPN BET | $34.4 million | $2.6 million |
| Caesars | $25.2 million | $1.4 million |
| Fanatics | $23.7 million | $952,650 |
Online sports betting in Massachusetts accounted for 98% of the month's overall handle. DraftKings was a major part of that, setting a new Massachusetts monthly record with a $323 million handle in March.
The online sportsbook also led the state with $23.5 million in revenue.FanDuel enjoyed the highest hold of 8.2% in the Bay State for the month, raking in $15.7 million on a handle of $190.4 million.
BetMGM saw its handle jump more than $10 million from February to March. Meanwhile, ESPN BET placed in the Top 3 in handle for the fifth consecutive time since PENN Entertainment launched its latest platform in Nov. 2023.
Casino revenue rises
The MGC reported in-person casino gross gaming revenue of $111.1 million, the highest in the last 12 months of provided figures, and up 10.5% month-over-month.
Encore Boston Harbor reached $70 million in revenue, a new monthly mark in the Bay State. The casino’s sportsbook also accounted for $5.7 million of the three brick-and-mortar’s combined $12.7 million handle.
MGM Springfield’s $25.2 million and Plainridge Park’s $15.4 million March gaming revenue were also the highest figures reported by the MGC.
