Massachusetts online sports betting surpassed the $4 billion mark in November and continues to grow as the market embraced its first football season.
Though a smaller state, its handle is comparable to bigger and more mature markets, such as Michigan and Ohio.
The industry launched on March 10. So far, Massachusetts sports betting has brought in:
- Total bets placed: $4.91 billion
- Taxable revenue: $471.2 million
- Taxes for Massachusetts: $110.8 million
On this page, you will find an in-depth breakdown of Massachusetts sports betting revenue and what to expect as the market matures in the Commonwealth.
December 2023 Massachusetts sports betting revenue highlights
Bay State sportsbooks finished 2023 on a high note. It was the busiest month in the short, 10-month history of the industry. Sports betting revenue continued its upward trend as the fall sports schedule moved the market higher. The eight Massachusetts online sportsbooks reported a total handle of $636.7 million. This represents a 14.5% increase from October’s $555.7 million handle. Three retail sportsbooks added another $17.6 million, totaling $654.4 million.
The Massachusetts market continues to set new highs. October was previously the busiest month in Bay State sports betting history. But thanks mostly to the 14.5% increase in online sportsbook handle, November easily surpassed that mark.
Here are the most important things to know from the October Massachusetts sports betting revenue report:
- November was the best month in the short history of MA sports betting. The $654.4 million was the largest combined handle in the 11-month lifespan of the industry.
- Despite the largest handle in state history, online operators weren’t even close to their most profitable month. Online sportsbook taxable revenue totaled $48.6 million, making it the fourth-best month. This ranks behind May ($59.4 million), April ($58.5 million) and October ($58.2 million). Compared to October, nearly every operator saw its hold percentage decrease.
- ESPN Bet gave a massive boost to Penn Entertainment. In its first month operating in the Massachusetts market, ESPN Bet handled nearly $39.1 million worth of wagers. PENN previously used Barstool Sportsbook as its online brand in Massachusetts. But the rebrand to ESPN resulted in a 300% increase from October, when it was still Barstool Sportsbook.
Massachusetts lifetime online sports betting revenue
| Sportsbook | Launch date | Handle | Revenue | Hold % | Taxes |
|---|---|---|---|---|---|
| DraftKings | March 10, 2023 | $2.13 Billion | $202,094,434 | 9.4% | $40,339,285 |
| FanDuel | March 10, 2023 | $1.18 Billion | $127,506,775 | 10.8% | $25,462,099 |
| BetMGM | March 10, 2023 | $299,354,202 | $36,675,288 | 12.2 | $9,385,406 |
| Penn Sports Interactive | March 10, 2023 | $180,639,743 | $16,584,128 | 9.1% | $3,308,449 |
| WynnBET | March 10, 2023 | $128,657,741 | $7,214,378 | 5.6% | $1,431,428 |
| Caesars Sportsbook | March 10, 2023 | $158,091,258 | $9,895,704 | 6.2% | $1,921,800 |
| Fanatics Sportsbok | May 25, 2023 (beta) | $47,070,970 | $3,559,549 | 7.5% | $707,770 |
| Betr | May 8, 2023 | $2,011,434 | $152,370 | 7.8% | $29.908 |
Monthly sports betting revenue totals
Here is a closer look at the breakdown of sports betting revenue from each Massachusetts operator by month:
2023
November 2023
Sportsbook Handle Revenue Hold % Taxes
DraftKings $319,994,568 $26,412,341 8.5% $5,282,468
FanDuel $181,544,976 $12,565,340 6.9% $2,424,396
BetMGM $38,934,090 $2,994,989 7.9% $598,997
ESPN Bet (formerly Barstool Sportsbook) $39,083,619 $5,709,434 14.9% $1,141,886
Caesars $27,361,029 $403,366 1.5% $67,107
WynnBet $13,833,159 $287,648 2.3% $57,529
Fanatics $15,821,831 $690,298 4.6% $138,059
Betr $194,589 $23,897 12.5% 4,779
Total $636,767,865
| Sportsbook | Handle | Revenue | Hold % | Taxes |
|---|---|---|---|---|
| DraftKings | $319,994,568 | $26,412,341 | 8.5% | $5,282,468 |
| FanDuel | $181,544,976 | $12,565,340 | 6.9% | $2,424,396 |
| BetMGM | $38,934,090 | $2,994,989 | 7.9% | $598,997 |
| ESPN Bet (formerly Barstool Sportsbook) | $39,083,619 | $5,709,434 | 14.9% | $1,141,886 |
| Caesars | $27,361,029 | $403,366 | 1.5% | $67,107 |
| WynnBet | $13,833,159 | $287,648 | 2.3% | $57,529 |
| Fanatics | $15,821,831 | $690,298 | 4.6% | $138,059 |
| Betr | $194,589 | $23,897 | 12.5% | 4,779 |
| Total | $636,767,865 |
October 2023
Sportsbook Handle Revenue Hold % Taxes
DraftKings $304,764,233 $33,522,344 10.9% $6,704,468
FanDuel $155,562,938 $15,536,305 9.9% $3,107,261
BetMGM $35,020,850 $4,275,374 12.2% $855,074
Barstool $13,893,609 $1,445,372 10.4% $289,074
Caesars $19,097,706 $1,107,871 5.8% $221,574
WynnBet $13,486,717 $1,036,979 7.6% $207,395
Fanatics $13,578,652 $1,253,379 9.2% $250,675
Betr $324,273 $20,733 6.3% $4,146
TOTAL $555,728,981
| Sportsbook | Handle | Revenue | Hold % | Taxes |
|---|---|---|---|---|
| DraftKings | $304,764,233 | $33,522,344 | 10.9% | $6,704,468 |
| FanDuel | $155,562,938 | $15,536,305 | 9.9% | $3,107,261 |
| BetMGM | $35,020,850 | $4,275,374 | 12.2% | $855,074 |
| Barstool | $13,893,609 | $1,445,372 | 10.4% | $289,074 |
| Caesars | $19,097,706 | $1,107,871 | 5.8% | $221,574 |
| WynnBet | $13,486,717 | $1,036,979 | 7.6% | $207,395 |
| Fanatics | $13,578,652 | $1,253,379 | 9.2% | $250,675 |
| Betr | $324,273 | $20,733 | 6.3% | $4,146 |
| TOTAL | $555,728,981 |
September 2023
Sportsbook Handle Revenue Hold % Taxes
DraftKings $290,142,168 $28,228,841 9.7% $5,505,624
FanDuel $121,929,643 $14,213,751 11.6 $2,783,967
BetMGM $33,533,024 $3,698,816 11% $722,996
Barstool $12,953,075 $974,737 7.5% $188,420
Caesars $18,137,418 $1,640,430 9% $319,017
WynnBET $13,854,350 $868,385 6.3% $166,749
Fanatics $8,895,193 $577,200 6.5% $113,001
Betr $303,158 $28,691 9.5% $5,604
TOTAL $499,748,033
| Sportsbook | Handle | Revenue | Hold % | Taxes |
|---|---|---|---|---|
| DraftKings | $290,142,168 | $28,228,841 | 9.7% | $5,505,624 |
| FanDuel | $121,929,643 | $14,213,751 | 11.6 | $2,783,967 |
| BetMGM | $33,533,024 | $3,698,816 | 11% | $722,996 |
| Barstool | $12,953,075 | $974,737 | 7.5% | $188,420 |
| Caesars | $18,137,418 | $1,640,430 | 9% | $319,017 |
| WynnBET | $13,854,350 | $868,385 | 6.3% | $166,749 |
| Fanatics | $8,895,193 | $577,200 | 6.5% | $113,001 |
| Betr | $303,158 | $28,691 | 9.5% | $5,604 |
| TOTAL | $499,748,033 |
August 2023
Sportsbook Handle Revenue Hold % Taxes
DraftKings $161,921,969 $11,177,837 6.9% $2,155,968
FanDuel $79,421,282 $7,624,926 9.6% $1,485,731
BetMGM $21,236,585 $2,456,145 11.5% $480,610
Barstool $16,462,996 $523,933 3.2% $96,418
Caesars $14,617,457 $594,078 4.1% $111,507
WynnBET $9,034,594 $365,973 4.1% $68,677
Fanatics $4,401,191 $553,718 12.6% $109,064
Betr $150,218 $11,614 7.7% $480,610
TOTAL $307,246,295
| Sportsbook | Handle | Revenue | Hold % | Taxes |
|---|---|---|---|---|
| DraftKings | $161,921,969 | $11,177,837 | 6.9% | $2,155,968 |
| FanDuel | $79,421,282 | $7,624,926 | 9.6% | $1,485,731 |
| BetMGM | $21,236,585 | $2,456,145 | 11.5% | $480,610 |
| Barstool | $16,462,996 | $523,933 | 3.2% | $96,418 |
| Caesars | $14,617,457 | $594,078 | 4.1% | $111,507 |
| WynnBET | $9,034,594 | $365,973 | 4.1% | $68,677 |
| Fanatics | $4,401,191 | $553,718 | 12.6% | $109,064 |
| Betr | $150,218 | $11,614 | 7.7% | $480,610 |
| TOTAL | $307,246,295 |
July 2023
Sportsbook Handle Revenue Hold % Taxes
DraftKings $144,866,212 $14,383,243.17 10.17% $2,876,649
FanDuel $86,188,847 $9,893,877 11.72% $1,978,775
BetMGM $22,461,781 $2,477,399 11.28% $495,480
Barstool $11,688,652 $362,493 3.35% $72,499
Caesars $11,343,713 $777,698.45 7.11% $114,577
WynnBET $9,061,119 $705,741 8.04% $141,148
Fanatics $2,353,501 $221,479 9.61% $44,296
Betr $155,582 $10,983 7.29% $2,197
TOTAL $288,119,407
| Sportsbook | Handle | Revenue | Hold % | Taxes |
|---|---|---|---|---|
| DraftKings | $144,866,212 | $14,383,243.17 | 10.17% | $2,876,649 |
| FanDuel | $86,188,847 | $9,893,877 | 11.72% | $1,978,775 |
| BetMGM | $22,461,781 | $2,477,399 | 11.28% | $495,480 |
| Barstool | $11,688,652 | $362,493 | 3.35% | $72,499 |
| Caesars | $11,343,713 | $777,698.45 | 7.11% | $114,577 |
| WynnBET | $9,061,119 | $705,741 | 8.04% | $141,148 |
| Fanatics | $2,353,501 | $221,479 | 9.61% | $44,296 |
| Betr | $155,582 | $10,983 | 7.29% | $2,197 |
| TOTAL | $288,119,407 |
June 2023
Sportsbook Handle Revenue Hold % Taxes
DraftKings $159,351,364 $15,137,562 9.7% $3,027,512
FanDuel $96,073,002 $10,984,741 11.7% $2,196,948
BetMGM $24,985,879 $3,539,724 14.4% $707,945
Barstool Sportsbook $16,446,808 $1,022,283 6.5% $204,457
WynnBET $11,777,968 $478,619 4.3% $95,724
Caesars Sportsbook $12,687,806 $655,306 5.4% $131,061
Fanatics Sportsbok $1,897,494 $221,608 11.8% $44,322
Betr $290,650 $10,829 4% $2,166
TOTAL $323,510,972
| Sportsbook | Handle | Revenue | Hold % | Taxes |
|---|---|---|---|---|
| DraftKings | $159,351,364 | $15,137,562 | 9.7% | $3,027,512 |
| FanDuel | $96,073,002 | $10,984,741 | 11.7% | $2,196,948 |
| BetMGM | $24,985,879 | $3,539,724 | 14.4% | $707,945 |
| Barstool Sportsbook | $16,446,808 | $1,022,283 | 6.5% | $204,457 |
| WynnBET | $11,777,968 | $478,619 | 4.3% | $95,724 |
| Caesars Sportsbook | $12,687,806 | $655,306 | 5.4% | $131,061 |
| Fanatics Sportsbok | $1,897,494 | $221,608 | 11.8% | $44,322 |
| Betr | $290,650 | $10,829 | 4% | $2,166 |
| TOTAL | $323,510,972 |
May 2023
Sportsbook Handle Revenue Hold % Taxes
DraftKings $221,097,425 $30,092,160 13.9% $6,018,432
FanDuel $135,330,126 $19,707,906 14.8% $3,941,581
BetMGM $34,950,152 $5,391,257 15.7% $1,078,251
Caesars Sportsbook $19,028,482 $1,337,441 7.3% $267,488
WynnBET $16,412,297 $1,009,711 6.4% $201,942
Barstool Sportsbook $16,025,154 $1,784,970 11.4% $356,994
Betr $592,965 $45,623 7.9% $9,124
Fanatics (beta product) $123,108 $41,769 34% $8,354
TOTAL $443,559,714
| Sportsbook | Handle | Revenue | Hold % | Taxes |
|---|---|---|---|---|
| DraftKings | $221,097,425 | $30,092,160 | 13.9% | $6,018,432 |
| FanDuel | $135,330,126 | $19,707,906 | 14.8% | $3,941,581 |
| BetMGM | $34,950,152 | $5,391,257 | 15.7% | $1,078,251 |
| Caesars Sportsbook | $19,028,482 | $1,337,441 | 7.3% | $267,488 |
| WynnBET | $16,412,297 | $1,009,711 | 6.4% | $201,942 |
| Barstool Sportsbook | $16,025,154 | $1,784,970 | 11.4% | $356,994 |
| Betr | $592,965 | $45,623 | 7.9% | $9,124 |
| Fanatics (beta product) | $123,108 | $41,769 | 34% | $8,354 |
| TOTAL | $443,559,714 |
April 2023
Sportsbook Handle Revenue Hold % Taxes
DraftKings $283,837,925 $28,283,999 10.2% $5,656,799
FanDuel $172,627,764 $21,714,200 12.8% $4,342,840
BetMGM $42,960,658 $4,610,952 11% $922,190
Barstool Sportsbook $24,580,107 $1,899,963 8% $379,987
WynnBET $22,811,166 $405,977 2% $81,195
Caesars Sportsbook $19,419,242 $1,633,201 8.7% $326,640
TOTAL $566,236,866
| Sportsbook | Handle | Revenue | Hold % | Taxes |
|---|---|---|---|---|
| DraftKings | $283,837,925 | $28,283,999 | 10.2% | $5,656,799 |
| FanDuel | $172,627,764 | $21,714,200 | 12.8% | $4,342,840 |
| BetMGM | $42,960,658 | $4,610,952 | 11% | $922,190 |
| Barstool Sportsbook | $24,580,107 | $1,899,963 | 8% | $379,987 |
| WynnBET | $22,811,166 | $405,977 | 2% | $81,195 |
| Caesars Sportsbook | $19,419,242 | $1,633,201 | 8.7% | $326,640 |
| TOTAL | $566,236,866 |
March 2023
Sportsbook Handle Revenue Hold % Taxes
DraftKings $257,634,288 $15,556,827 6.3% $3,111,365
FanDuel $181,085,195 $16,002,999 9% $3,200,599
BetMGM $45,271,182 $7,314,463 16.4% $1,462,892
Barstool Sportsbook $29,505,722 $2,893,576 10% $578,715
WynnBET $18,336,370 $2,055,344 11.4% $411,068
Caesars Sportsbook $16,398,404 $1,814,141 11.3% $362,828
TOTAL 548,102,467
| Sportsbook | Handle | Revenue | Hold % | Taxes |
|---|---|---|---|---|
| DraftKings | $257,634,288 | $15,556,827 | 6.3% | $3,111,365 |
| FanDuel | $181,085,195 | $16,002,999 | 9% | $3,200,599 |
| BetMGM | $45,271,182 | $7,314,463 | 16.4% | $1,462,892 |
| Barstool Sportsbook | $29,505,722 | $2,893,576 | 10% | $578,715 |
| WynnBET | $18,336,370 | $2,055,344 | 11.4% | $411,068 |
| Caesars Sportsbook | $16,398,404 | $1,814,141 | 11.3% | $362,828 |
| TOTAL | 548,102,467 |
Massachusetts lifetime retail sports betting revenue
Online betting is more popular, but there are still sports fans out there who prefer to place their wagers in person. Massachusetts is home to three retail casinos that accept sports wagers: MGM Springfield in Springfield, Encore Boston Harbor in Everett, and Plainridge Park Casino in Plainville.
Here is a closer look at the sports betting revenue generated from the three Massachusetts casinos:
| Casino | Launch date | Handle | Revenue | Hold % | Taxes |
|---|---|---|---|---|---|
| Encore Boston Harbor | Jan. 31, 2023 | $78,674,630 | $4,543,085 | 5.7% | $659,182 |
| MGM Springfield | Jan. 31, 2023 | $15,883,131 | $902,402 | 5.6% | $170,348 |
| Plainridge Park Casino | Jan. 31, 2023 | $43,922,912 | $2,642,767 | 6% | $381,973 |
| TOTAL | $138,480,673 | $8,068,793 | 5.8% | $1,211,503 |
Where does Massachusetts sports betting tax revenue go?
Sportsbooks pay a 20% tax on revenue from online sports betting. Retail operators pay a 15% tax on in-person winnings.
Massachusetts sports betting tax revenue is allocated across the following funds:
- 45% to the General Fund
- 27.5% to the Gaming Local Aid Fund
- 17.5% to the Workforce Investment Trust Fund
- 9% to the Public Health Trust Fund
- 1% to the Youth Development and Achievement Fund
The Massachusetts sports betting bill created two new funds: the Workforce Investment Trust Fund and the Youth Development and Achievement Fund.
The state’s General Fund is the pool of money that Massachusetts uses to pay for government services.
Key sports betting revenue terms to know
To understand the scale at which sports betting revenue in Massachusetts operates, it’s important to first grasp a few terms:
- Handle: Total amount of money wagered by bettors.
- Gross gaming revenue: Total amount of money made by sportsbooks minus winnings paid out.
- Hold percentage: Gross gaming revenue divided by total handle.
- Tax revenue: Money that regulators collect from sportsbook operators.
Massachusetts online sports betting history
Although Massachusetts has a history with legal gambling stretching back nearly 100 years, MA legal sports betting did not become a reality until this year.
The first indication that legal sports gambling could come to Massachusetts started with the legalization of daily fantasy sports back in 2016.
After that, it took six years for the Massachusetts Senate pass an amended sports betting bill, known as H3993. The bill then moved to Gov. Charlie Baker’s desk after receiving approval in both the state Senate and House. Baker signed the Massachusetts sports betting bill into law in August 2022.
On Jan. 31, 2023, retail sports betting launched in the state’s three casinos: MGM Springfield, Encore Boston Harbor and Plainridge Park Casino.
A few months later, mobile sports betting in Massachusetts launched on March 10. Six online betting apps immediately became available: DraftKings, FanDuel, BetMGM, Caesars Sportsbook, WynnBET and Barstool Sportsbook.
Betr, a microbetting-focused platform, launched in Massachusetts on May 8. Fanatics Sportsbook launched its beta testing product on May 25. It released its full app to Massachusetts bettors ahead of the 2023 NFL season.
During the summer of 2023, PENN Entertainment sold its ownership of the Barstool Sports brand back to founder Dave Portnoy. Then, it inked a deal with ESPN to brand its online sportsbook ESPN BET. The Massachusetts Gaming Commission approved the switch and ESPN Bet Massachusetts launched in November 2023.
At full capacity, Massachusetts could feature up to 15 online sportsbook apps.
Licensing fees for MA sports betting operators
Prior to the industry launching, the Massachusetts Gaming Commission clarified that each entity offering sports betting must pay a $5 million licensing fee. This fee would be needed regardless of any existing partnerships.
In addition, a non-refundable application fee of $200,000 was required by the application deadline in order to apply for a sports wagering license.
Licenses are broken down into three categories:
- Category 1 – Retail
- Category 2 – Tethered
- Category 3 – Untethered
The Category 1 retail licenses mean that retail casinos can offer sports betting at their facilities. These belong to MGM Springfield, Encore Boston Harbor and Plainridge Park Casino. Raynham Park, a horse racing simulcast facility, is also expected to open its retail Caesars Sportsbook later this summer.
Tethered Category 2 online licenses include Caesars Sportsbook, BetMGM, Fanatics, Barstool Sportsbook and WynnBET. These platforms are using an online license provided by one of the Category 1 operators.
Category 3 licenses go to online operators not partnered with retail locations. In Massachusetts, three untethered Category 3 operators have launched: DraftKings, FanDuel and Betr.
Passionate fan bases will help MA sports betting
It’s no secret that Massachusetts is home to some of the most passionate sports fans in the country. Boston is one of the premier sports markets out there, and the state’s numerous professional and college sports teams should contribute to its yearly sports betting tax revenue.
Professional sports franchises with home venues in Massachusetts include:
As for college, major NCAA Division I schools that compete in the FBS include the Boston College Eagles and the UMass Minutemen. Here is a closer look at Massachusetts college teams:
| 🏟️ Team | 🏫 School | 🏙️ City | 🏅 Conference |
|---|---|---|---|
| Boston College Eagles | Boston College | Chestnut Hill | ACC |
| Boston University Terriers | Boston University | Boston | Patriot |
| Harvard Crimson | Harvard University | Cambridge | Ivy |
| Holy Cross Crusaders | College of the Holy Cross | Worcester | Patriot |
| Umass Minutemen | University of Massachusetts Amherst | Amherst | Atlantic 10 |
| Merrimack Warriors | Merrimack College | North Andover | Northeast |
| Northeastern Huskies | Northeastern University | Boston | Colonial |
| Stonehill Skyhawks | Stonehill College | Easton | Northeast |
| UMass Lowell River Hawks | University of Massachusetts Lowell | Lowell | America East |
Keep in mind that the Massachusetts sports betting law prohibits betting on in-state college teams, unless they are participating in a tournament involving four or more teams, such as March Madness.