Massachusetts Sets Sports Betting Handle Record for Third Consecutive Month

The Bay State's online and retail operators generated $777.8 million in wagers and brought in an all-time high $82.6 million in gross revenue.  

Brad Senkiw - News Editorat Covers.com
Brad Senkiw • News Editor
Dec 23, 2024 • 14:52 ET • 4 min read
Photo By - Imagn Images.

Bay State bettors set a handle record for the third consecutive month. The Massachusetts Gaming Commission reported $777.8 million in wagers for November, surpassing October's $748.1 million handle mark. The 4% month-over-month betting increase was also up 19% year-over-year. 

Massachusetts surpassed $6 billion in handle year-to-date following November’s haul. The commonwealth's seven online operators and three retail sportsbooks produced $82.6 million in combined gross hold, up 63.4% from last November and the most ever since mobile sports betting launched in March 2023.  

The adjusted $80.5 million revenue was also a state-best. The 10.4% hold is in the Bay State's top five all-time and nearly three points higher year-over-year. It also made up for October’s win rate that fell below 7% following a great month for NFL bettors. Sports betting operators sent Massachusetts $16 million in tax revenue.  

Market growth

The first three months of football in 2024 generated $2.2 billion in wagers for Bay State operators. That’s up 29.4% from the same period in 2023 when they produced a $1.7 billion handle. The 9.4% average hold during September, October, and November is the same as the win rates from those three months in 2023.  

Record handles 

Operator November Handle Revenue
DraftKings $384.2 million $45.1 million
FanDuel $225.7 million $25.1 million
BetMGM $58.5 million  $5.2 million
Fanatics Sportsbook $37.4 million $1.8 million
ESPN BET $29.2 million $2.4 million
Caesars $23.4 million $1.4 million 

Online sports betting accounted for $764 million of the state’s total handle. DraftKings set a new record, taking in $384.2 million in wagers and an all-time revenue high of $45.1 million. FanDuel’s $225.7 million was also the operator’s largest handle in Massachusetts to date.   

BetMGM had the third-highest November handle, generating $58.5 million, its most ever, up from October’s $49.6 million in bets. Fanatics Sportsbook came in fourth with a $37.4 million handle while ESPN BET edged Caesars for fifth, taking in $29.2 million to $23.4 million.

Bally Bet generated a five-month high of $5.9 million handle. Fanatics produced the lowest hold (4.8%) of all online operators and was the only one to haul in less revenue month-over-month.  

Brick-and-mortar report

Retail books generated a $13.8 million handle, up a slight 6% month-over-month, and hauled in $1.1 million in gross hold. Encore Boston Harbor led the way with $7.3 million in wagers while Plainsridge Park generated nearly a $5 million handle and enjoyed an 11% hold. MGM Springfield had another rough month after a hold below 1% led to adjusted revenue of just $208. 

 

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Brad Senkiw - Covers
News Editor

Brad has been covering sports betting and iGaming industry news for Covers since 2023. He writes about a wide range of topics, including sportsbook insights, proposed legislation, regulator decision-making, state revenue reports, and online sports betting launches. Brad reported heavily on North Carolina’s legal push for and creation of online sportsbooks, appearing on numerous Tar Heel State radio and TV news shows for his insights.
Before joining Covers, Brad spent over 15 years as a reporter and editor, covering college sports for newspapers and websites while also hosting a radio show for seven years.

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