Massachusetts crossed off more legal sports betting milestones in July.
The Bay State reported a handle of $294.9 million, which put Massachusetts over the $2 billion mark in wagers accepted since online sports betting went live in March.
During that five-month span, the Bay State has produced double-digit holds three times, including July’s 10.2%. That turned into gross revenue of $30.1 million and generated $5.6 million in taxes for the state, according to figures released by the Massachusetts Gaming Commission.
Massachusetts sports betting numbers were, however, down compared to June. The handle dropped 11.2% while revenue fell 8.7% as the summer slowdown continued.
Massachusetts’ eight online sports betting sites have now produced $2.15 billion of the $2.25 billion handle the Bay State recorded in 2023.
In July alone, mobile accounted for $288.1 million of the total amount wagered. A hold of 10.25% resulted in over $29.5 million of revenue.
Staying on top
DraftKings paced the state in mobile handle by taking in over 50% of the amount wagered at $144.9 million, turning that into $14.7 million in gross revenue on a 10.2% hold.
FanDuel landed in second with a handle of $86.2 million. A higher hold of 11.7% produced $10.1 million in gross revenue. Meanwhile, BetMGM also went over 11% on win rate and made $2.5 million on a hold of $22.5 million.
Barstool and Caesars both got over $11 million in handle, but Caesars’ $777,698 revenue doubled up Barstool’s 3.35% hold.
Changes to the landscape
In just its second month operating online in Massachusetts, Fanatics increased its handle by 24% from the first month to $2.35 million in July. The newcomer turned in a slightly higher revenue from June of $226,230 with a hold of 9.6%.
WynnBet announced last week that it's shutting down its mobile operations in eight states, but Massachusetts isn’t one of them because of Wynn’s “physical presence” with a sportsbook at Encore Boston Harbor. WynnBet reported gross revenue of $728,393 on a June handle of $9.06 million.
Encore tops $3 million retail handle
Retail sportsbooks at Encore Boston Harbor, Plainridge Park Casino, and MGM Springfield combined to produce $593,196 on a hold of $6.8 million. Encore led the trio with a handle of $3.2 million while MGM was second at $2.96 million.
Plainridge Park managed just a 5.4% hold while the other two brick-and-mortar shops were over 10%.
