Massachusetts smashes sports betting revenue record in January
Gross gaming revenue for the month was 32.8% higher than the $71.1 million reported in January last year. It also far exceeds the existing Massachusetts monthly record – $75.4 million in September 2024 – by 25.2%.
Data published yesterday (20 February) by the Massachusetts Gaming Commission reveals online sports betting revenue totalled $93.6 million in January. Retail betting also generated $778,953 in monthly revenue.
Incidentally, this bucks the trend of sports betting struggles seen in the industry during January. Pennsylvania, which also posted monthly revenue figures yesterday, reported a 26.4% year-on-year drop in betting revenue.
As for handle, player spending totalled $762.5 million, which beats last year by 17.0%. It is also only 3.3% behind December’s record $788.3 million spend.
Online betting totalled $751.4 million, with retail reaching $11.1 million. In terms of hold, the monthly figure for Massachusetts was 9.32%.
DraftKings pulls further ahead in January
Breaking down the online market, DraftKings extended its lead during the month, taking $51.8 million in revenue off a $377.1 million handle left a 13.74% hold.
FanDuel remains the closest challenger, although it fell further behind DraftKings in January. The Flutter Entertainment-owned brand posted $28.8 million in revenue off $217.3 million in bets, resulting in a 13.25% hold.
BetMGM took third with $5.5 million from $63.2 million for an 8.7% hold.
Other players in Massachusetts include Fanatics, which took $3.5 million from $37.8 million for a hold of 9.26%. ESPN Bet was next with $2.3 million off $28.4 million, leaving 8.10%.
Caesars followed on $1.2 million from $23.0 million for a 5.22% hold. Bally Bet rounded off the market with $493,996 off $4.7 million, resulting in a hold of 10.42%.
As for retail sports betting, Plainridge Park Casino took top spot with $413,922 off a handle of $3.7 million, leaving a 11.1% hold. Encore Boston Harbor posted $365,031 in revenue from $6.2 million for a 5.85% hold.
MGM Springfield took $1.1 million in bets but failed to report any revenue in January.
Casino revenue up 4.7%
The Commission also revealed details of the state’s land-based casino market. In January, taxable gaming revenue in this area topped $97.9 million, up 4.7% from last year but 4.2% behind December.
Slots revenue for the month reached $66.2 million, while table games revenue amounted to $31.7 million.
Encore Boston Harbor again ranked as the most successful casino, reporting $61.4 million in total revenue. MGM Springfield came in second with $22.8 million, followed by Plainridge Park Casino on $13.8 million.
As for tax, the monthly total for the entire market was $46.6 million. Of this, $27.8 million came from casino gaming, while sports betting contributed $18.8 million.