For four consecutive months, DraftKings has beaten FanDuel to be the No. 1 sportsbook in Massachusetts.
The Massachusetts Gaming Commission released the state’s June online sports betting numbers Monday. DraftKings reported a handle of $159.4 million, compared to FanDuel’s $96 million. So DraftKings owned 49.3% of the market in June, and FanDuel had 29.7%. That’s a 0.3% increase in DraftKings’ market lead over FanDuel since May.
As a whole, Massachusetts online sportsbooks took in $323.5 in total bets in June for $32 million in total revenue. That means the state received $6.4 million in June sports betting tax payments.
Massachusetts sports betting handle continues to decline since its March launch. This trend was expected, especially during the summer months when sports activity is lowest during the calendar year. The industry will see a boost beginning in August, when football betting starts to rear its head again.
Ranking the sportsbooks by June handle
| 📱 Sportsbook | 💰 June Handle | 📈 Market Share |
|---|---|---|
| DraftKings | $159.4 million | 49.3% |
| FanDuel | $96 million | 29.7% |
| BetMGM | $25 million | 7.7% |
| Barstool | $16.4 milion | 5.1% |
| Caesars | $12.7 million | 3.9% |
| WynnBET | $11.8 million | 3.6% |
| Fanatics | $1.9 million | 0.6% |
| Betr | $290,650 | 0.09% |
| Total | $323.5 million |
The top three sports betting apps in Massachusetts have remained the same in March, April, May and June. For the fourth straight month, BetMGM Massachusetts came in third in handle with $25 million.
The rest of the pecking order has shifted a few times. For June, Barstool Sportsbook came in fourth with $16.4 million in total handle. Barstool was the only sportsbook to report a higher June handle than May handle ($16.1 million). Caesars Sportsbook rounded out the top five with $12.7 million in handle.
June was the first full month for the Fanatics Sportsbook beta product in Massachusetts. It reported $1.9 million in handle and $221,608 in sports betting revenue.
June also marked the first full month for the microbetting-focused platform Betr in Massachusetts. It struggled in May, and performed significantly worse June. Its per-day handle in May was $19,128, compared to $9,688 in June.
WynnBET continues to outperform its national pace in Massachusetts, helped greatly by its presence at the state’s biggest casino, Encore Boston Harbor. It reported $11.8 million in handle for 3.6% of the market.
Ranking the sportsbooks by June revenue
| 📱 Sportsbook | 💸 June Revenue | 💵 Revenue Hold % |
|---|---|---|
| DraftKings | $15.1 million | 9.74% |
| FanDuel | $11 million | 11.67% |
| BetMGM | $3.6 million | 16.97% |
| Barstool | $1 million | 6.46% |
| Caesars | $655,305 | 5.41% |
| WynnBET | $478,619 | 4.31% |
| Fanatics | $221,608 | 11.84% |
| Betr | $10,829 | 3.97% |
| Total | $32 million |
BetMGM had a tremendous June, with nearly a 17% revenue hold. Remember, the industry average is 6-8%.
Meanwhile, Betr labored in the revenue hold department — under 4%. WynnBET and Barstool Sportsbook are likely spending a lot on promotions to generate business in their home states, so the respective hold rates of 4.31% and 6.46% aren’t a shock.
