Massachusetts sports betting operators produced the third-highest gross revenue and second-best hold ever in the Bay State during May.
Key Takeaways
- The sports betting revenue spike was driven by more operator-friendly NBA postseason results.
- May’s handle rose 11.7% from the previous year, but the month-over-month total fell 5%.
- DraftKings and FanDuel enjoyed handles over 12% for the month.
On Friday, the Massachusetts Gaming Commission reported that the seven online sportsbooks and three retail operators made $82.5 million, a 40% year-over-year revenue increase and second-best in 2025 behind January’s record of $96.4 million.
Sportsbooks across several U.S. jurisdictions have enjoyed massive profit increases during this year’s NBA playoffs as underdogs and upsets have gone against the betting public. More than $150 million in operator revenue was produced in April and May, a 36.9% spike from the same two months in 2024.
May matched January’s 12.6% hold, the best win rate produced behind only the 13.6% recorded in May 2023. Taxable revenue surpassed $80 million for just the second time since online wagering went live in March 2023.
The uptick in May profits filled the Bay State’s coffers with $16.1 million, putting the tax revenue haul over $70 million for the year.
YTD handle is up
Massachusetts sports betting generated a handle of $655.8 million, an 11.7% year-over-year increase. It’s the ninth consecutive month that the amount wagered has surpassed $600 million in the Bay State.
However, May’s handle was down 5% from April, representing the second consecutive month-over-month decrease. Still, Massachusetts has generated more than $3.5 billion in bets year-to-date, up from $3 billion after the first five months of 2024.
DraftKings goes over $40 million
| Online Operator | May Handle | Revenue |
|---|---|---|
| DraftKings | $330.8 million | $42.4 million |
| FanDuel | $171.9 million | $23.5 million |
| BetMGM | $49.2 million | $5 million |
| Fanatics Sportsbook | $46.3 million | $5.9 million |
| ESPN BET | $21.9 million | $2.7 million |
| Caesars | $20.6 million | $1.7 million |
Online sports betting in Massachusetts accounted for $645.7 million of the total May handle. The seven mobile sportsbooks combined for $81.5 million in revenue, thanks to a 12.6% hold.
DraftKings led all operators with a $330.8-million handle, down from April’s $343 million in wagers. The Bay State’s top online sportsbook used a 12.8% hold to produce $42.4 million in revenue, up from $38.6 million in April. FanDuel’s state-best 13.6% win rate on a $171.9 million May handle led to $23.5 million, a 27.7% month-over-month increase.
BetMGM had the third-highest handle at $49.2 million, with Fanatics Sportsbook not far behind with $46.3 million in wagers. Fanatics finished third in revenue, reaching $5.9 million from a 12.7% hold, while BetMGM made $5 million in profit.
ESPN BET edged Caesars to generate the fifth-most wagers with a $21.9-million handle. Caesars finished with $20.6 million in wagers, but produced an 8.5% hold, second-lowest behind Bally Bet’s 4.6% win rate.
Other Massachusetts gaming news
The Bay State’s retail sportsbooks upped their hold from April’s 5.2% to 10% in May, leading to $1 million in revenue from a $10-million handle. Encore Boston Harbor led all brick-and-mortar operators with $588,397 in revenue from a $5-million handle. MGM Springfield enjoyed a 10.4% hold on a $1.5-million handle, while Plainridge Park had an 8.1% win rate on $3.6 million in wagers.
Sports betting is Massachusetts’ only major form of gaming tax revenue, but a group of legislators is hoping to change that. Lawmakers will discuss two bills Monday that would authorize online casinos in the Bay State.
