DraftKings is continuing its reign in the Bay State following the release of the Massachusetts Gaming Commission’s (MGC) latest monthly revenue report.
According to data provided by the MGC, licensed online sports betting operators in Massachusetts accepted $667.6 million in wagers in September 2024. By comparison, operators across the Bay State in September 2023 closed the month with $499.7 million in accepted online bets. The results that month included wagers from eight sportsbooks.
The online handle results in September 2024 generated $72.1 million in taxable gaming revenue behind a collective 11% hold. As a result, Massachusetts collected $14.4 million in taxes from sports betting operators behind a 20% rate tax levied on gaming revenue.
DraftKings remains popular in Massachusetts
The sports betting and fantasy giant closed September 2024 with the highest online handle in the state at $355.1 million, up from $290.1 million for the same month last year. Last month, DraftKings posted an 11% hold with taxable gaming revenue at $38.7 million.
It paid the state $7.7 million in taxes in September, ranking highest in the state.
FanDuel remained far behind its rival in Massachusetts with the Flutter-owned brand closing September 2024 with a $182.4 million online handle. That month, FanDuel generated $22 million in taxable gaming revenue behind a 12.3% hold. By comparison, FanDuel saw its online handle in September 2023 close at $121.9 million. During that same period, FanDuel posted $13.9 million in taxable gaming revenue with its hold at 11.6%.
Last month, FanDuel paid $4.4 million in taxes, up from $9.8 million in September 2023.
BetMGM rounded out the top three operators in Massachusetts with a $45.5 million handle in September 2024 compared to $33.5 million for the same month last year. Last month, the Entain and MGM Resorts brand generated $5.4 million in taxable gaming revenue behind a 12.2% hold. By comparison, revenue in September 2023 reached $3.6 million.
Massachusetts welcomes new operators
Massachusetts is home to several new sportsbooks that have gained market access following the exit and rebranding of state-licensed operators. In the past year, the state has seen WynnBet and Betr exit while ESPN Bet and Bally Bet have launched operations.
Last year, ESPN Bet went live as a rebrand of Barstool Sportsbook. In September, the operator finished No. 5 in the state for handle at $22.3 million. ESPN Bet reported a 9.9% hold and $2.1 million in taxable gaming revenue during the month. By comparison, Barstool posted a $12.9 million handle and $942,103 in revenue in September 2023.
Bally Bet officially launched operations in Massachusetts in July after being issued a sports wagering operation certificate by the MGC. The MGC awarded Bally Bet its certificate following a review of house rules, technology and third-party integration systems.
In September, Bally Bet reported a $4.6 million handle and $464,980 in taxable gaming revenue behind a 10.2% hold. It paid $92,996 in taxes to the state. Bally Bet is also live in Arizona, Colorado, Indiana, Iowa, Maryland, New York, Ohio and Virginia.
