Massachusetts Sets Sports Betting Records in November

Massachusetts customers have been betting early and often over the last three months, but November now holds the state’s sports betting handle and revenue records.

November to Remember

November was the third consecutive month in which Massachusetts sportsbooks reported record sales. It topped every previous month with a $777.8 million handle, a 4% increase over October’s record-setting handle of $748.1 million. It was also 19% higher than in November of last year. Mobile sports betting sites were responsible for $764 million, or 98.2% of the total handle, in November.

A record handle coupled with November’s top-five hold of 10.4% guaranteed a blockbuster revenue month like the record-breaking $82.6 million in gross revenues, a year-over-year increase of a whopping 63.4%.

According to the Massachusetts Gaming Commission, the seven mobile sportsbooks and three retail locations, including Plainridge Park Casino in Plainville, MGM Springfield and Encore Boston Harbor in Everett sent a combined $16 million to the state’s tax coffers, which, unsurprisingly, is also a record in the Commonwealth.

Retail sports betting operations launched in January 2023, while mobile sportsbooks launched two months later in March 2023. Since that time, Massachusetts has collected approximately $213.59 million from the state’s sports betting operators.

Home Court Advantage

Massachusetts’ sportsbooks have reported impressive numbers for a state that boasts only seven million people, ranked 16th in the nation in that category. But it is an area well-known for its professional sports franchises and the region’s religious devotion to the Patriots, Red Sox, Bruins, and Celtics.

Massachusetts is also notoriously provincial; therefore, it is little wonder why Boston-based bookmaker DraftKings routinely leads the pack in monthly handle and revenues.

In that regard, November was no different than most months, as DraftKings was the undisputed most popular sportsbook, generating $384,184,323 in online sports betting handle and $44,189,102 in taxable gaming revenue. It should also be noted that DraftKings had the highest hold (11.75%) of all the others in November.

Below are November’s sports betting numbers by operator, according to the Massachusetts Gaming Commission.

1. DraftKings: $384,184,323 in online sports betting handle, $44,189,102 in taxable gaming revenue
2. FanDuel: $225,680,330 in online sports betting handle, $24,505,209 in taxable gaming revenue
3. BetMGM: $58,544,812 in online sports betting handle, $5,007,584 in taxable gaming revenue
4. Fanatics Betting and Gaming: $37,386,636 in online sports betting handle, $1,699,120 in taxable gaming revenue
5. ESPN BET: $29,222,137 in online sports betting handle, $2,272,850 in taxable gaming revenue
6. Caesars Sportsbook: $23,345,154 in online sports betting handle, $1,371,500 in taxable gaming revenue
7. Bally Bet: $5,688,120 in online sports betting handle, $541,352.83in taxable gaming revenue

MGC Taking Next Steps on Player Limits

The Massachusetts Gaming Commission has been at the forefront of investigating sportsbooks’ policies of limiting players’ winnings. Last month, the regulatory body discussed its next steps in requesting data from its operators in order to analyze the factors that prompt its sportsbooks to reduce a bettor’s wagering amount.

MGC Sports Wagering Division Chief, Carrie Torrisi, talked about the Commission’s next steps after that data is scrutinized. “Such regulations might include things like requiring notifications to patrons who have been limited, implementing reporting or auditing requirements, regarding patron limits, or requiring clear and defined protocols and perimeters around patron limits,” Torrisi stated.