Massachusetts continues to grow as a regulated retail and online sports betting market with record monthly results in November.
According to data provided by the Massachusetts Gaming Commission (MGC), online operators in the Bay State accepted $764 million in wagers in November compared to $636.7 million for the same month last year. In November 2024, online operators closed the month with a 10.6% hold with taxable gaming revenue closing at $79.5 million.
By comparison, revenue in November 2023 closed at $48.5 million with a 7.8% hold.
In November 2024, Massachusetts generated monthly record tax revenue from sports betting with the state and local governments collecting $16 million for the month. In November 2023, Massachusetts collected $9.7 million in tax revenue. To date, the Bay State has collected approximately $213.5 million in total taxes from sports wagering.
DraftKings far ahead of the competition
Last month, Boston-based DraftKings remained the top online operator in Massachusetts with a $384.1 million handle, up from $319.9 million in November 2023.
DraftKings generated $44.1 million in revenue in November 2024 while reporting an 11.7% hold, the highest rate in the state. By comparison, DraftKings saw revenue in November 2023 reach $26.4 million with an 8.5% hold. That month, the sports betting and DFS giant paid $5.2 million in taxes. In November 2024, taxes for DraftKings closed at $8.8 million.
Rival FanDuel was far behind in handle with the Flutter-owned brand closing November 2024 with $225.6 million in accepted wagers and revenue at $24.5 million behind an 11.1% hold. FanDuel also paid the state and local governments $4.9 million in taxes.
By comparison, FanDuel reported a $181.5 million online handle in November 2023 with revenue at $12.1 million and a 6.9% hold. That month, it paid $2.4 million in taxes.
Emerging operators in Massachusetts
The Bay State is also home to emerging brands Fanatics Sportsbook and ESPN Bet.
Last month, Fanatics reported a $37.3 million online handle ranking No. 4 in the state. Fanatics generated $1.6 million in revenue in November 2024 but posted the state’s lowest hold at 4.7%. It also paid $339,824 in taxes during the month. Fanatics’ low hold mirrored results in November 2023 when the operator closed the month with a 4.6% hold. That month, Fanatics reported a $15.8 million online handle and $690,298 in revenue.
In November 2023, Fanatics paid the state and local governments $138,059 in taxes.
ESPN Bet finished No. 5 out of the state’s seven online sportsbooks ahead of Caesars and Bally Bet. In November 2024, ESPN Bet accepted $29.2 million in online wagers with $2.2 million in revenue and an 8% hold. Last month, it paid $454,570 in taxes. ESPN Bet went live in Massachusetts in November 2023 as part of a rebrand of Barstool Sportsbook.
In November 2023, Barstool reported a $39 million online handle with $5.7 million in revenue and a 14.8% hold. That month, taxes collected for Barstool reached $1.1 million.
