Massachusetts’ September Sports Betting Revenues Hit Upswing

Article ByDavid Weir

October 17, 2023

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Posted in: Massachusetts Gambling News, US Fantasy Sports News, US Gambling News, US Sports Betting News

The state of Massachusetts saw a surge in sports betting in September, according to the latest figures from state regulator the Massachusetts Gaming Commission (MGC). Bettors in The Bay State wagered $512.17 million over the month.

That’s up 62.6% on August’s handle, as sports fans embraced the kickoff of the first full season of regulated NFL betting at Massachusetts online sportsbooks.

From that impressive amount of wagers taken, sportsbooks won $49 million as revenue, for a total hold of 9.6%. The state also took $9 million in taxes in September from all that revenue, up nearly double on the $4.5 million in August.

Operator-wise, DraftKings mobile betting led the pack for the month. The Boston-based local heroes set the record for a single Massachusetts sportsbook’s total monthly handle, with $290 million in bets placed.

Online Betting Dominates Again

Online sports betting, was, once again, the overwhelming favorite for bettors. Online wagering accounted for nearly $500 million of the total handle.

DraftKings’ record-setting handle of $290.1 million for September translated to $27.5 million in taxable gaming revenue.

Following closely, perennial rival FanDuel reported an online sports betting handle of $121.9 million and taxable gaming revenue of $13.9 million. Other notable contributors include BetMGM with a handle of $33.5 million, and Caesars Sportsbook with $18.1 million.

The Jake Paul-backed micro betting (and now daily fantasy sports) focused app Betr once again struggled for traction in September. It was by far the least-popular operator in the state, being the only sportsbook with a total handle under $1 million. It took in $303k in bets, holding onto $28k in revenue. That’s actually a decent hold, but with such a low revenues, it’s only amconsolation.

Meanwhile, Fanatics, who only fully launched in the state in August after a long beta test, doubled its August handle to hit $8.9 million in total bets.

Retail Sportsbooks Show Steady Performance

On the retail front, the WynnBET sportsbook at Encore Boston Harbor led the pack among the three Massachusetts retail sportsbooks. It recorded a handle of $6.2 million and generated more than $226,000 in total taxable revenue. That’s despite deciding earlier this year it would cease online betting services in the Bay State.

The other two sportsbooks, also located inside Massachusetts casino venues, are the Barstool Sportsbook (soon to be ESPN Bet) at Plainridge Park Casino and the Bet MGM at MGM Springfield. They reported handles of $4.6 million and $1.5 million, respectively.

In terms of taxable revenue, MGM Springfield led with $285,366, followed by Plainridge Park Casino with $270,924.

Related: The best Massachusetts online casinos, reviewed and rated

Daily Fantasy Sports in the Spotlight

The MGC also shed light on the state’s Daily Fantasy Sports (DFS) figures for September. The total DFS handle for the month stood at $16.78 million, with 16 licensed DFS operators currently active in Massachusetts. DraftKings continued its dominance in this sector as well, leading with a handle of $7.8 million. PrizePicks secured the second spot with nearly $3.6 million in handle. The state collected a total of $286,272 in DFS taxes for the month.

Massachusetts Gaming Commission Interim Executive Director, Todd Grossman, recently highlighted the commission’s intent to evaluate daily fantasy sports (DFS) offerings in the commonwealth.

This decision comes in light of the increased scrutiny DFS operators are facing nationwide. Grossman revealed plans for a comprehensive review of DFS operators and their offerings in the state, given the various legal challenges facing DFS providers in Florida, Michigan, and in New York.

However, some smaller DFS operations have claimed that the big players, DraftKings and FanDuel, have unfairly escaped criticism and investigation for similar offerings, as they are now so dominant in the U.S. sports betting market.