September Sports Betting Surge Takes Massachusetts Over $3 Billion in Lifetime Wagers

Massachusetts experienced its first full month of NFL football since launching its mobile and retail sports betting platform in February, which includes top sports betting apps, sites, and sportsbooks. The September sports betting numbers highlight the significant impact of the league on the state’s sports betting revenue.

In September, Massachusetts sports betting, including its promotions through Massachusetts sportsbooks, exceeded $500 million for the first time since April. This surge comes after a summer drought in sports betting activity. The September report from the Massachusetts Gaming Commission revealed significant increases in handle, revenue, and taxes paid by the state’s providers compared to the previous month.

$512.1 million September handle for Massachusetts

In September, Massachusetts saw a significant increase in sports betting activity, with a total of $512.2 million in wagers reported through the state’s sports betting apps and retail providers. This marked the third-highest month for sports betting in Massachusetts since the legalization of mobile and retail wagering in February.

The $512.2 million represents a substantial 62.6% increase compared to the $320.7 million reported in August.

It is worth mentioning that the majority of the $512.2 million handle, specifically $499.7 million, was generated by Massachusetts sports betting apps. In comparison, retail sports betting contributed approximately $12.5 million to September’s total betting revenue.

Revenues experience triple-digit month-over-month gains 

Similar to the September handle in Massachusetts, the state’s betting providers saw a significant increase in revenue during the month. Profits from sports betting in September totaled $51.04 million in the Bay State, a remarkable 117% increase from the $23.5 million generated in August.

Sports betting apps in Massachusetts accounted for $50.2 million of the total $51.04 million in profits generated by the state’s wagering providers.

In September, Massachusetts sportsbooks had a hold rate of 9.97%, which was over 2.5% higher than the win rate of 7.3% in the previous month.

Massachusetts sports betting companies reported a total of $9.9 million in tax payments for the month, which is more than double the amount collected in August ($4.5 million). These taxes were generated from $49.8 million in taxable sportsbook revenues.

Home-state DraftKings sets record for monthly handle

In September, DraftKings, the leading sports betting app in Massachusetts, accounted for over half of the total $512.2 million handle. DraftKings Massachusetts also achieved a record-breaking single-month sportsbook revenue of $290.1 million during September.

DraftKings earned $28.2 million in revenues in September with a 9.73% hold, making it the top revenue earner in the Massachusetts market for the month.

The shop has contributed $1.52 billion to the state’s total handle of $3 billion.

During September, FanDuel Massachusetts ranked second in both handle and revenues in the Bay State, falling short of the figures posted by rival DraftKings. FanDuel received approximately $122 million in bets in Massachusetts during September, resulting in $14.2 million in revenue with a state-leading 11.66% hold.

In September, BetMGM Massachusetts ranked third with $33.5 million in bets and nearly $3.7 million in revenues. Caesars followed in fourth place with $18.1 million in bets and $1.64 million in revenues. WynnBET closed out the top five with $13.85 million in bets and $868,385.59 in revenues, despite a disappointing 6.27% hold.