Massachusetts reaches $637M sports betting handle in November, DraftKings leads with $320M in wagers

As per the latest data from the Massachusetts Gaming Commission, the month of November witnessed a nearly 15% increase in sports betting activity in the state compared to September. Online sportsbooks saw $636.7 million in bets while retail locations took in just $17.6 million.  

Online books took center stage as the primary revenue drivers, amassing $50.1 million with a hold percentage of 7.87%. This marked a noticeable shift from the 10.7% hold recorded in October. Meanwhile, retail sportsbooks operated at a reduced hold of 2.35% from the previous 6.3%, with combined earnings amounting to $414,509.

The state generated $48.9 million in taxable revenue from operations encompassing both online and retail sportsbooks. Online operators contributed significantly to this figure, generating $48.6 million in taxable revenue, a portion of which amounted to $9.7 million in collected taxes. Retail operators, on the other hand, generated a comparatively smaller taxable revenue of $370,189, resulting in $55,528 in taxes.

Of the eight mobile operators in the Bay State, DraftKing maintained its dominant position. Headquartered in Boston, the sportsbook saw $320 million in handle, over $100 million more than the second-highest book. They also reported an adjusted gaming revenue of $26.4 million with a hold of 8.5%.

FanDuel was the only other company to hit a nine-figure handle. Its $181.5 million in bets was more than the other six sportsbooks combined, yielding an AGR of $12.1 million with a hold of 6.92%. Meanwhile, ESPN Bet secured a handle of $39.1 million, generating a taxable revenue of $5.7 million. Penn Entertainment’s sportsbook emerged as the leader in hold percentage, boasting an impressive 14.86%.

For its part, BetMGM demonstrated strong engagement with a total wager volume reaching $38.9 million. However, the revenue was significantly lower at $3 million. Caesars Sportsbook saw a handle of $27.4 million, yet recorded the lowest revenue hold at 1.47%, resulting in a revenue of $335,536. 

As for casino gaming, the state’s three properties generated approximately $94.03 million in gross gaming revenue during November. Plainridge Park Casino, MGM Springfield, and Encore Boston Harbor made $32.1 million from table games and $62 million from slots. The figure was down slightly on the $96.7 million collected in October, although November is a shorter month.

Encore Boston Harbor accounted for $61.4 million of the state’s casino GGR, which was down slightly on the $62.4 million from October. The figure was up slightly on the $59.4 million made in November 2022.

Click here to see the full report from the Massachusetts Gaming Commission.