Massachusetts online sports betting handle shot up in October as the NFL season went into full swing.
Handle hit nearly $735 million in October, breaking the record for most handle in a month since online Massachusetts sports betting launched in March 2023.
Massachusetts online sports betting handle up 10.1%
In total, Massachusetts’ seven active online sportsbooks combined for $734,999,590.80 in October, up 10.1% from September, state regulators reported.
| October handle | September handle | % change | October taxable revenue | September taxable revenue | % change | |
|---|---|---|---|---|---|---|
| Bally Bet | $5,094,969.71 | $4,676,699.15 | 8.94% | $352,895.11 | $464,980.23 | -24.11% |
| BetMGM | $49,658,400.70 | $45,587,058.80 | 8.93% | $3,581,255.44 | $5,458,570.80 | -34.39% |
| Caesars Sportsbook | $21,152,207.78 | $19,521,471.34 | 8.35% | $1,216,069.11 | $1,399,084.81 | -13.08% |
| DraftKings | $383,372,915.26 | $355,196,941.34 | 7.93% | $24,465,496.10 | $38,793,526.16 | -36.93% |
| ESPN Bet | $25,013,308.94 | $22,372,529.36 | 11.80% | $1,527,071.65 | $2,170,390.81 | -29.64% |
| Fanatics | $35,231,333.95 | $37,908,603.38 | -7.06% | $2,003,734.75 | $1,835,867.95 | 9.14% |
| FanDuel | $215,476,454.46 | $182,406,135.54 | 18.13% | $15,148,940.67 | $22,056,682.23 | -31.32% |
| Total | $734,999,590.80 | $667,669,438.91 | 10.08% | $48,295,462.83 | $72,179,102.99 | -33.09% |
DraftKings once again led the way in handle, accounting for more than half of the bets this past month at $383.4 million. FanDuel and BetMGM followed behind with $215.5 million and $35.2 million in handle, respectively.
FanDuel and ESPN Bet saw the biggest handle increases, month over month, at 18.1% and 11.8%, respectively.
Revenue falls 33.1% from September
On the revenue side, the picture wasn’t quite as good. Revenue fell 33.1% month over month to $48.3 million this past month.
Publicly traded sportsbooks said NFL betting results in October and the beginning of November were extremely customer-friendly.
Six of seven online sportsbooks in the state saw double-digit revenue losses, with DraftKings enduring the biggest loss. Fanatics was the lone exception that posted revenue growth for the month.
What’s ahead for Massachusetts online sports betting?
October is a welcomed month for sportsbooks. After enduring the characteristically slow months of summer, the first full month of fall brings with it plenty of football, basketball, baseball and hockey, along with healthy handle numbers. But what do the winter months look like?
Quite hot, actually. In 2023, Massachusetts online sports betting handle climbed significantly in September, October and November, then remained steady in December and January.
If last year’s numbers are an indicator of where sports wagering handle is headed this year, it’s possible handle could approach $850 million next month, with a chance to come close to $900 million by March.
