Massachusetts sets $748.1 million sports betting handle record in October

The October figure surpasses the exiting record of $678.7 million, which was just set in September, by 10.2%. It is also 30.8% ahead of $571.8 million last year, according to the Massachusetts Gaming Commission.

Players wagered $735.0 million betting online and $13.1 million at retail sportsbooks across the state.

In terms of taxable revenue, operators generated $48.3 million in total for October. This falls 20.3% short of $60.6 million last year and lags 35.9% behind September’s record $75.4 million haul.

Online betting was responsible for almost all revenue, with retail contributing just $5,286 in October. As for hold, the state-wide figure for the month stood at 6.46%. Tax-wise, Massachusetts collected $9.7 million from sports betting, almost all of which related to online wagering.

Can anyone stop DraftKings in Massachusetts?

Turning to operators, DraftKings remains the runaway leader in the online betting market for its home state. In October, it took $24.5 million in taxable revenue from $383.4 million in bets, resulting in a 6.39% hold.

Flutter’s FanDuel followed in a distant second with $15.1 million from $215.5 million for a hold of 7.01%. BetMGM was third with $3.5 million off a handle of $49.7 million, leaving a 7.04% hold.

Elsewhere in the market, Fanatics posted revenue of $2.0 million off $35.2 million for a hold of 5.68%. ESPN Bet followed with $1.5 million from $25.0 million, meaning a 6.00% hold. Caesars posted $1.2 million in monthly revenue off a $21.2 million handle for a 5.66% hold. Bally Bet rounded off the online market with $352,895 from $5.1 million for 6.93% hold.

As for the retail market, MGM Springfield was the only operator to report positive revenue. For the month, this hit $5,286 from $1.5 million, with hold at just 0.34%. Encore Boston Harbor took the most retail bets at $6.9 million but was not able to post positive revenue.

Casino revenue edges down in October YoY

The state regulator also published figures for the land-based casino market. During October, gross gaming revenue there hit $94.2 million, down 2.6% from last year but 2.3% ahead of September. Gross slots revenue topped $66.3 million for the month, with table games at $27.9 million.

Encore Boston Harbor led the way with $57.9 million in combined slot and table games revenue. MGM Springfield ranked second at $22.1 million, followed by Plainridge Park Casino with $14.3 million.

Casino gaming tax in October amounted to $27.0 million, placing total tax income for the month at $36.6 million.