Massachusetts Sports Betting In March Jumps Over 20%

Sports betting in Massachusetts saw a boost in March, with the state reporting a 20.7% increase in the total handle compared to the previous month. The handle reached an impressive $642.3 million, surpassing February’s figure of $542.5 million. While it didn’t quite surpass January’s $651.7 million, the growth is undoubtedly a positive sign for the Massachusetts sports betting market.

Among the key players in the Massachusetts sports betting scene, DraftKings emerged as the frontrunner in March. The popular sportsbook enjoyed a strong month, recording a handle of $323.0 million, which was a 19.7% increase from its February figure of $269.8 million. DraftKings also generated $22.7 million in taxable gaming revenue during the month.

FanDuel, another prominent player in the market, took $119.4 million in bets in March, generating $15.2 million in revenue. BetMGM followed closely behind with a handle of $45.5 million. ESPN Bet and Caesars Sportsbook rounded out the top five with handles of $34.4 million and $25.2 million, respectively. Fanatics, a relatively new entrant, also managed to attract $23.7 million in bets over the course of the month.

In addition to online sports betting platforms, three land-based venues in Massachusetts also contributed to the state’s sports betting handle. Plainridge Park Casino led the way with $5.6 million in bets, while Encore Boston Harbor and MGM Springfield reported handles of $5.0 million and $1.6 million, respectively.

Since the launch of sports betting in Massachusetts at the beginning of 2023, the sector has made a significant contribution to the state’s tax revenue. The industry has already generated $127.8 million in tax contributions, highlighting its potential as a lucrative source of income for Massachusetts.

The positive momentum wasn’t limited to sports betting alone. Massachusetts also experienced an increase in casino revenue during the same period. The state’s three casinos collectively generated $111.1 million in gross gaming revenue (GGR) in March, marking a 10.4% increase compared to February’s figure of $100.6 million.

Encore Boston Harbor led the way with $70.4 million in table and slots GGR, followed by MGM Springfield with $25.2 million. Plainridge Park Casino contributed $15.4 million in GGR. Since their inception, these three casinos have contributed approximately $1.7 billion in taxes to the state, highlighting the positive impact of the casino industry on Massachusetts’ economy.