Massachusetts again surpassed $500 million in wagers in October, which appears to be a common occurrence in the Bay State.
The Massachusetts Gaming Commission reported a handle of $571.7 million last month. The online sportsbooks took in $555.7 million in bets while the retail locations had just $16 million.
Of the eight mobile operators in the Bay State, DraftKings led the competition with $304.7 million, which was 53% of the entire statewide handle. They were also one of two sportsbooks to see more than $100 million in wagers.
FanDuel was the other company to hit that number. Their $155.5 million in action, while significantly less than DraftKings, was more than the other six operators combined.
From their bets, the operators (both retail and online) generated $59.1 million in taxable revenue and $11.7 million in taxes. Retail books accounted for just 2.7% of all wagers and just 1.6% of the revenue.
From all of the state’s wagers, the combined hold percentage was 10.5%. The mobile sportsbooks kept 10.7% while the brick-and-mortar locations held just 6.3%.
Bettors picked poorly
Four of the state’s eight online operators reported a hold of more than 10%. Fortunately for them, they were also the most popular sportsbooks in Massachusetts.
The top five operators by handle were DraftKings, FanDuel, BetMGM ($35 million), Caesars ($19 million), and Barstool ($13.9 million).
The hold percentage of those same sportsbooks were 11.2% at DraftKings, 10.2% for FanDuel, 12.4% for BetMGM, 6% at Caesars, and 10.6% at Barstool. The bottom three operators averaged an 8.3% hold.
Retail breakdown
The Encore Boston Harbor led all retail sportsbooks with $8.2 million in bets, their hold percentage was the lowest of the physical locations with just 5.8% kept.
Plainridge Park Casino was second with a $5.8 million handle and 6.3% hold while MGM Springfield saw just $1.9 million in bets but a solid hold of 8.8%.
