Sports Betting
In September, Massachusetts sportsbooks generated a record $75.4 million in revenue
Zach Wolpin is an NBA and NFL expert who's been betting on the league for over three years now. Wolpin is a fan of the NFL and NBA and has been watching for a decade and a half. He covers the latest news and stories surrounding the league daily. His passion in life is sports and being able to share that through his writing. He has written about the NBA and other sports leagues through various media outlets over the years like Sir Charles In Charge, G-Men HQ, and TAP into South Plainfield. Before he became a Sports Editor, Wolpin attended Montclair State University where he graduated in 2021. He studied Sports Media and Writing while in school.
Get to know Zach Wolpin betterPublished2 hours ago on October 16, 2024
On Tuesday, the Massachusetts Gaming Commission reported a record $75.4 million in gross sports betting revenue for September. The state’s handle reached an all-time monthly high of $678.7 million. Massachusetts also became the 13th state in the post-PASPA era to reach a $10 billion handle. They were able to hit that number in 20 months of legal wagering.
The $75.4 million in revenue from the state’s seven mobile and three retail operators beat the previous record of $72.7 million in January. Operator winnings were up 47.6% year-over-year and the 11.1% hold was up more than one percentage point. Their previous record for a handle was in December 2023 with $658.7 million.
Wagering was up 32.5% year-over-year and was up 51.7% from the $447.3 million handle in August. Massachusetts was also able to eclipse $5 billion in the year-to-date handle. With their winnings in September, the state was able to re-direct $14.6 million to state coffers. The state’s -$93 million in receipts through the first nine months of the year is $32.7 million ahead of their pace in 2023.
What Massachusetts sportsbooks were the most profitable in September?
To no surprise, DraftKings was able to set records for revenue and handle in September. The sportsbook is based in Boston, Massachusetts and they have a large following in their home state. DraftKings collected $39.6 million in gross revenue from an 11.2$% hold and $355.2 million worth of wagers in September. It was the third time in 2024 that they had an 11% hold or higher in Massachusetts.
DraftKings’ year-over-year revenue was up 40.4% They remain the only operator in Massachusetts to clear a $200 million monthly handle. Finally, DraftKings had over $300 million in monthly revenue in September. The 7th time they accomplished that feat in 19 months of legal wagering. FanDuel had $22.5 million in revenue in September. Their second-best total in 2024.
Their 12.3% hold in September was a full three percentage points higher than August 2024. FanDuel topped $150 million in revenue so far this year and $300 million overall. BetMGM had $5.6 million in gross revenue from a 12.2% hold and $45.6 million worth of wagers. That was their best month since their launch. Additionally, it was just the third time in 11 months that they had a double-digit hold.
