Fanatics reported $123,108.74 in handle while its beta product was live in Massachusetts for the final week of May.
That’s according to the Massachusetts Gaming Commission, which released May sports betting handle and revenue figures on Thursday.
DraftKings expanded its lead in among the Massachusetts sports betting apps over FanDuel. The Boston-based sportsbook had $221.1 million in May betting handle for 49.8% of the market, while FanDuel’s handle was $135.3 million for 30.5% of the market.
Also of note: Betr reported $592,965.60 in May handle. The microbetting platform launched in Massachusetts on May 8.
During the month of May, active Massachusetts online sportsbooks reported a total handle of $443.6 million. That means MA sports fans bet more than $14.3 million per day — both decreases from April numbers.
Sportsbooks paid $11.9 million in taxes to Massachusetts in May.
Totals for each sportsbook
In the MGC’s report, both handle and revenue were broken down by licensee, plus revenue hold percentage and taxes paid to Massachusetts.
Here’s how the eight MA sports betting apps shook out, first ranked by handle:
|📱 Sportsbook||💰 May Handle||📈 Market Share|
And now by revenue:
|📱 Sportsbook||💸 May Revenue||💵 Revenue Hold %|
Fanatics finding its way
However, Fanatics’ revenue hold of 34.01% stands out (although this is surely due to a small sample size). That is more than double the revenue hold of the next highest platform, BetMGM, which had a hold of 15.68% in May.
Fanatics’ revenue hold will come back down the earth when it fully releases its app to all eligible Massachusetts bettors and we have more than a week’s worth of data. There has been no official word on when that full launch may happen, but it seems likely to come in the next few weeks. And, at that point, we’ll know more information about the MA sportsbook welcome promo Fanatics will offer. It currently offers $200 in bonus bets for its beta customers.
Though there will be a climb ahead for Fanatics, and PlayMA is projecting a ceiling of a 5% market share for the apparel company’s sportsbook brand.