Over $548 Million In Handle Brought In By MA Betting Apps In First Month
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According to a report published by the Massachusetts Gaming Commission on Tuesday, the total sports betting handle from Massachusetts sports betting apps exceeded $548.1 million in the initial month of legal online sports betting.
During the period of March 10-31, the six online sportsbook apps in Massachusetts generated a collective taxable revenue exceeding $45.6 million. This revenue, specifically $45,605,606.69 million in gross gaming revenue (GGR), resulted in a tax revenue of over $9.1 million for the state.
With the release of official data, our comprehension of the hierarchy among online sportsbooks in Massachusetts has significantly improved.
Revenue for each MA sports betting app
The MGC’s report provided a detailed breakdown of handle, revenue, revenue hold percentage, and taxes paid to Massachusetts for each licensee.
In terms of handle, DraftKings Massachusetts emerged as the frontrunner, raking in an impressive $257.6 million in wagers. Following closely behind was FanDuel Massachusetts, securing the second position with a total of $181.1 million in wagers.
Despite having a higher revenue hold percentage, DraftKings fell short in revenue compared to FanDuel MA, reporting $15.6 million versus FanDuel MA’s $16 million.
The following is the ranking of the six MA sports betting apps based on handle:
| Sportsbook | March handle | Market share |
|---|---|---|
| DraftKings | $257.6 million | 47% |
| FanDuel | $181.1 million | 33% |
| BetMGM | $45.3 million | 8.3% |
| Barstool Sportsbook | $29.5 million | 5.4% |
| WynnBET | $18.2 million | 3.3% |
| Caesars Sportsbook | $16.4 million | 3% |
| Total | $548.1 million |
And now by revenue:
| Sportsbook | March revenue | Revenue hold % |
|---|---|---|
| FanDuel | $16 million | 9.02% |
| DraftKings | $15.6 million | 6.26% |
| BetMGM | $7.3 million | 16.41% |
| Barstool Sportsbook | $2.9 million | 10.06% |
| WynnBET | $2 million | 11.36% |
| Caesars Sportsbook | $1.8 million | 11.31% |
| Total | $45.6 million |
March Madness provided big boost
Massachusetts welcomed the introduction of the online betting industry on March 10, perfectly timed for the thrilling March Madness. Play MA previously estimated that bettors in Massachusetts had the potential to place bets exceeding $120 million on the grand college basketball tournament.
Despite not having a local team in the mix, Massachusetts bettors wholeheartedly embraced March Madness betting. For the third consecutive tournament, Massachusetts remained unrepresented in the Big Dance.
Massachusetts’ March online sports betting numbers are truly impressive.
Massachusetts has made an impressive beginning with over $548 million in handle and nearly $46 million in revenue. This achievement sets a positive tone for the future, indicating a thriving betting market in the state.
If you or someone you care about is facing issues related to gambling, reach out to a trained specialist for assistance at no cost, anytime, by calling 1-800-327-5050 or visiting www.mahelpline.org/problemgambling.
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