In October, $571.7 million was wagered on sports in Massachusetts. As a result, the commonwealth coffers swelled by $11.7 million in tax revenue.
Furthermore, that’s the most money wagered on sports in the state’s history. But the state’s online sportsbooks were responsible for most of that cash bet in the state.
DraftKings Massachusetts stayed on top as the No. 1 sportsbook in Massachusetts, with nearly twice as much in total handle than the closest competitor, FanDuel.
In October, DraftKings reported $304.7 million in total handle, while FanDuel Massachusetts reported $155.5 million. Since it launched online sports betting in March, the commonwealth has received just over $70 million in taxes.
Over $3.5 billion has been wagered on sports in Massachusetts since March 10. Sports betting operators have gathered more than $355 million in taxable revenue in the nearly eight months mobile sports betting has been legal.
DraftKings MA nears $2 billion mark in total handle
Massachusetts sports betting now boasts eight licensed online sportsbooks, including ESPN Bet, which recently went online and has not yet had a full month on the market.
Massachusetts allows both retail and online sports betting, but in October, most sports bets were placed online. Around $555.7 million was wagered online (97.2%), while just $16 million was handled at retail sportsbooks, mostly in casinos.
The second month of the NFL season and college football helped the market push back over the $500 million mark after a slight dip in the summer months.
Home-court advantage seems to be working out very well for Boston-based DraftKings. So far, the operator has recorded $1.8 billion in total handle in Massachusetts in the 236 days since online sports betting went live in the Commonwealth. That means DraftKings MA has handled 52% of the money wagered on sports thus far.
DraftKings and FanDuel again dwarfed the competition in total sports betting handle in October.
- DraftKings: $305 million
- FanDuel: $156 million
- BetMGM: $35 million
- Caesars: $19 million
- PENN: $14 million
- Fanatics: $14 million
- WynnBET: $13 million
- Betr: $324,273
BetMGM, which consistently maintains the No. 3 position in Massachusetts, reported the highest hold for October at 12.46%. DraftKings, FanDuel and PENN all were over 10%. The lowest hold percentage for the month was from Caesars MA at 6.05%.
Encore again leads retail sportsbook betting
Encore Boston Harbor again led the way with $8.3 million in total handle. It won $481,981 in October, a hold of 5.81%. EBH reported $461,247 in taxable gaming revenue. It paid $69,187 in taxes to the commonwealth.
Numbers from MGM Springfield reveal $1.9 million in total handle for a win total of $168,232 (8.84% hold). MGM Springfield paid taxes in the amount of $24,521.28 on $163,475 in total handle.
In October, Plainridge Park Casino handled nearly $5.9 million in sports wagers, winning $368,944, a hold of 6.31%. PPC had taxable gaming revenue of $354,606 and paid $53,191 in taxes.
According to the Massachusetts Gaming Commission, the total taxes paid by the three retail sportsbooks for October was $146,899, which compiles each monthly report.