The Massachusetts Gaming Commission (MGC) reported $892.2 million in wagers at legal sportsbooks during October, a 19.3% year-over-year increase and a new monthly record.
Massachusetts’ gaming regulator also confirmed that sportsbooks generated $71.3 million in monthly taxable revenue, up 47.6% on October 2024.
Key Takeaways
- The state now has the fourth-highest monthly sports betting handle of all states.
- DraftKings led the market, but Fanatics showed the most growth.
- Casinos also grew, but not to the same extent as sports betting.
According to the MGC’s report, online sportsbooks were responsible for $879.6 million (98.6%) of the total sports betting handle. Massachusetts received $14.2 million in taxes based on its 15% for in-person and 20% for online betting rates.
The $892.2 million handle record was also 11.5% ahead of the $800 million figure produced during September, now the second-highest total in state history.
Sportsbooks posted a solid 8.2% hold, largely influenced by the 8.3% online hold.
Encore Boston Harbor performed the best of the state’s three retail wagering facilities, although none of them brought in more than $6 million in monthly wagers. For comparison, all but one online sportsbook topped that number.
Enjoying Covers content? Add us as a preferred source on your Google account
Breaking down the performances
| Online Sportsbook | Handle | Taxable Gaming Revenue |
|---|---|---|
| DraftKings | $447.4 million | $38.5 million |
| FanDuel | $237.3 million | $17.3 million |
| Fanatics | $82.4 million | $7.5 million |
| BetMGM | $55 million | $3.6 million |
| ESPN Bet | $27.7 million | $2.1 million |
| Caesars | $25 million | $1.4 million |
| Bally Bet | $4.8 million | $314,452.40 |
To no surprise, Boston-headquartered DraftKings dominated the Massachusetts sports betting market yet again.
The operator reported $447.4 million in monthly wagers and $38.5 million in taxable revenue from an 8.9% hold, the second-highest of any operator. Those marks also represented year-over-year improvements of 16.7% and 57.3%, respectively.
FanDuel was next in line with a $237.3 million handle, up 26.8% YoY, and $17.3 million in revenue, up 14.3% YoY. Its 9.3% hold was the leading mark for the state’s monthly market.
Fanatics, despite being much younger than many of its competitors, was third in October. It claimed $82.4 million in total bets and $7.5 million in gaming revenue, more than twice as much as its closest competitor. Its handle increased 133.9%, and its revenue grew 272.8% year-over-year.
BetMGM was next in line with $55 million in wagers and $3.6 million in taxable revenue, marking a 10.9% increase in handle, but a miniscule decline in revenue YoY.
ESPN Bet and Caesars were close in handle ($27.7 million and $25 million) and revenue ($2.1 million and $1.4 million). ESPN Bet’s marks were up 10.8% and 39.3% YoY, while Caesars’ were up 18.2% and 17.2% YoY.
Bally Bet finished the month in last place with just $4.8 million in wagers and $314,452.40 in revenue, down 6.1% and 10.9% YoY.
Massachusetts’ growth felt nationally
Thanks to October, Massachusetts now has the fourth-highest monthly handle total of any state, trailing only New York ($2.7 billion), New Jersey ($1.2 million), and Pennsylvania ($968.5 million). North Carolina is fifth at $811.4 million.
On top of the strong month of sports betting, Massachusetts’ casinos generated $96.9 million in gross gaming revenue, leading to $27.9 million in taxes. Those numbers were up 2.8% and 3.3% year-over-year, respectively.
While the strong performances may warrant celebration, the MGC still has a firm gaze on sportsbooks. It recently warned them that they would risk losing their operator’s license if they followed a national trend and teamed up with prediction platforms to offer event contracts.
