DraftKings Leads the Way in First Month of Massachusetts Online Sports Betting

GamingToday.com is an independent sports news and information service. GamingToday.com has partnerships with some of the top legal and licensed sportsbook companies in the US. Gaming Today may receive referral compensation from the sportsbook company when you claim a bonus offer or promotion through a link on this site. Although the relationships we have with sportsbook companies may influence the order in which we place companies on the site, all reviews, recommendations, and opinions are wholly our own. They are the recommendations from our authors and contributors who are avid sports fans themselves.

For more information, please read How We Rate Sportsbooks, Privacy Policy, or Contact Us with any concerns you may have.

Gaming Today is licensed and regulated to operate in AZ, CO, CT, DC, IA, IL, IN, KS, KY, LA, MA, MD, ME, MI, MS, NJ, NV, NY, OH, ON, PA, TN, VA, VT, WV, and WY.

DraftKings and FanDuel ranked first and second in market share, respectively, in the first three weeks of legal online sports betting in Massachusetts, according to data released by the state’s Gaming Commission on Tuesday.

From the March 10 launch date of Massachusetts sports betting through March 31, DraftKings Massachusetts reported $257.6 million in online sports betting handle, compared to $181.1 million for FanDuel Massachusetts. DraftKings and FanDuel, however, each generated around $16 million in online sports betting revenue over the same period, as FanDuel held 9 percent of the money wagered, compared to just 6 percent for Boston-based DraftKings.

Taxable revenue of $15.5 million from DraftKings and $16 million from FanDuel generated $3.1 million and $3.2 million in state revenue, respectively, for the month based on a tax rate of 20 percent.

Massachusetts Online Sportsbook Handle, Revenue, Market Share (March 2023)

After DraftKings and FanDuel, there is a big gap to BetMGM Mass at No. 3 and Barstool Sportsbookwhich has its own Massachusetts roots — at No. 4. WynnBet and Caesars MA round out the six sports betting apps that have launched in the state.

Massachusetts Online Sportsbook Handle, Revenue, Market Share (March 2023)

Mass SportsbookHandleRevenue (Win)Hold %Taxable Gaming Rev.Tax CollectedMarket Share
DraftKings$257,634,289 $16,119,771 6.26%$15,556,827 $3,111,365 47.00%
FanDuel$181,085,196 $16,342,642 9.02%$16,003,000 $3,200,600 33.04%
BetMGM$45,271,183 $7,427,641 16.41%$7,314,464 $1,462,893 8.26%
Barstool Sportsbook$29,505,722 $2,969,196 10.06%$2,893,576 $578,715 5.38%
WynnBet$18,207,674 $2,069,118 11.36%$2,023,598 $404,720 3.32%
Caesars Sportsbook$16,398,405 $1,855,140 11.31%$1,814,142 $362,828 2.99%
Total$548,102,467 $46,783,507 10.74%$45,605,607 $9,121,121

BetMGM, Barstool Next Top Performers in Massachusetts for March

BetMGM ranked third in revenue with $7.4 million, based on $45.3 in handle and a 16.4 percent hold. BetMGM is also the retail sports betting vendor for MGM Springfield casino, which launched an in-person sportsbook on Jan. 31.

Six online sportsbooks have been live in Massachusetts since the March 10 launch that followed the opening of three casino retail sportsbooks on Jan. 31.

Barstool tops the remaining three in performance in March with revenues of $2.9 million based on $29.5 million in handle at a hold of 10.1 percent. Next is WynnBET, with $2.06 million in revenue, based on $18.2 million handle at 11.4 percent hold.

Caesars pulled up the rear in March with $1.8 million in online sportsbook revenue generated from $16.39 million in handle at 11.31 percent hold.

Total online sports betting handle reported by the MGC for the first month after the March 10 launch was $548.1 million, with sportsbook revenues of $46.8 million, marking a hold — or win — percentage of 10.7 percent.

Total taxable online sports betting revenues of $45.6 million from all apps generated $9.12 million in total state revenue for the month.

More to Come in Massachusetts Online Sportsbook Market

Four additional online sportsbooks – Betr, Betway, BallyBet, and Fanatics (also partnered with PCC) – are licensed in Massachusetts but have not yet launched. BallyBet, Betr, and Fanatics are all expected to launch sometime in May.

Betway is not expected to launch its mobile app in the Commonwealth until next year.

Retail sportsbooks at MGM Springfield (BetMGM), Encore Boston Harbor (WynnBET and Caesars), and Plainridge Park Casino (Barstool, Fanatics) collectively generated $1.5 million for the month based $19.9 million handle with a hold of 9.6 percent. Total tax revenue generated by the retail sportsbooks for March was $218,295 (at a rate of 15 percent).

About the Author
Rebecca Hanchett

Rebecca Hanchett

Legislative Writer
Based in Kentucky's Bluegrass region, Rebecca Hanchett is a political writer who covers legislative developments at Gaming Today. She worked as a public affairs specialist for 23 years at the Kentucky State Capitol. A University of Kentucky grad, Hanchett has been known to watch UK. basketball from time to time.

Get connected with us on Social Media