With the Super Bowl being the only NFL game in the month of February, the Bay State saw its three-month streak of $600 million sports beting handles come to an end.
The Massachusetts Gaming Commission reported a February handle of $542.5 million, a 16.8% drop from January and the lowest amount wagered since Sept. 2023.
After getting crushed by sportsbooks in January, when the Bay State’s online and retail operators generated record revenue of $72.7 million, bettors brought the hold down from 11.16% to 9.93% in February.
That led to gross revenue of $53.9 million and taxable revenue of $52.6 million, which was down 26% month-over-month.
Massachusetts still filled its coffers with $10.5 million in tax revenue paid out by the eight online sportsbooks and three retail operators.
DraftKings stays hot
Mobile wagering made up nearly 98% of the overall amount wagered in Massachusetts in February.
DraftKings kept its hot run going in with the Bay State’s best online handle of $269.8 million, marking the first time under $300 million since Sept. 2023. The Boston-based online sportsbook raked in $31.5 million of revenue, thanks to an 11.66% hold, to surpass $30 million in taxable profits for the second consecutive month.
FanDuel had the second-best handle at $158.9 million, and with a 9.08% hold, it hauled in $14.4 million of revenue.
BetMGM took third place with a handle of $34.7 million, but ESPN BET wasn’t far behind with $30.6 million in amount wagered. Caesars generated $18.3 million in wagers but a 3.75% hold resulted in under $700,000 of revenue. Fanatics Sportsbook made a little over $1 million on a $14.2 million handle.
Goodbye and farewell
Betr and WynnBet exited the Massachusetts market in February after receiving approval from the MGC.
Betr, which halted operation on Feb. 16, took in just $86,865 in its final month. WynnBet stuck it out for another week and generated a $3.7 million handle, but the online sportsbook ended its time in the Bay State with a loss of $196,406.
Springfield shines in retail
Retail wagering was down 11% month-over-month to $12.2 million in February.
Plainridge Park Casino recorded the highest handle with $5.6 million in wagers, staying just ahead of Encore Boston Harbor’s $5 million handle.
MGM Springfield generated $1.6 million in wagers but enjoyed the highest win rate of 15.55% to record revenue of $246,641, second-best behind Plainridge Park’s $271,384.
