Massachusetts sports betting handle soars to $642 million in March

Massachusetts experienced a surge in its sports betting handle for the month of March, reporting an increase of over $110.0 million compared to the previous month.

The sports betting handle reached $642.3 million, marking a notable rise of 20.7% from February's figure of $542.5 million. While March's handle fell slightly short of January's $651.7 million, it still reflected a strong performance in the state's sports betting market.

Bettors in Massachusetts had a fruitful month, with taxable gaming revenue amounting to $46.2 million. The figure represented a decrease of 13.6% from February's total of $52.5 million.

Despite the increase in handle, the tax contribution to the state declined to $9.2 million from $10.5 million. Since the launch of sports betting at the beginning of 2023, Massachusetts has collected a total of $127.8 million in tax contributions from the sector.

DraftKings emerged as the leading operator in Massachusetts, experiencing robust growth in March. The company's handle reached $323 million, marking an increase of 19.7% from February's figure of $269.8 million. DraftKings also reported a taxable gaming revenue of $22.7 million.

FanDuel, while trailing behind DraftKings, still demonstrated considerable activity, with a handle of $119.4 million and revenue of $15.2 million for March. BetMGM, ESPN Bet, and Caesars Sportsbook followed suit, with handle figures of $45.5 million, $34.4 million, and $25.2 million, respectively. Fanatics also contributed to the market with a handle of $23.7 million.

Among the three land-based venues offering sports betting, Plainridge Park Casino, Encore Boston Harbor, and MGM Springfield reported varying levels of activity. Plainridge Park Casino led with a handle of $5.6 million, followed by Encore Boston Harbor with $5.0 million, and MGM Springfield with $1.6 million.

In addition to the growth in sports betting, Massachusetts saw an increase in casino revenue for March.

The state's three casinos collectively generated $111.1 million in gross gaming revenue (GGR), reflecting a rise of 10.4% from February's figure of $100.6 million. Encore Boston Harbor led in GGR with $70.4 million, followed by MGM Springfield with $25.2 million, and Plainridge Park Casino with $15.4 million.