Massachusetts Sportsbooks Show Year-Over-Year Increase in February

Bay State bettors wagered over $628 million in February, which was nearly 16% higher than last year’s equivalent period, while revenues also showed a substantial year-over-year increase.

Growth Sector

Aside from the Super Bowl, the gaming industry’s biggest one-day betting event, February is traditionally a slow month in the world of sports betting. The NFL and college football seasons are finished, while Major League Baseball is nearly two months away. We should also note that February is the shortest month on the calendar.

Considering those factors, it is not surprising that sportsbooks experience a marked decrease in activity compared to the flurry of wagering during the football season, running from September through January. Massachusetts is no different than any other market in that respect, as evidenced by February’s decreased handles and revenues compared to January.

However, year-over-year comparisons are a much better barometer of the health of the industry than monthly comparisons. In that regard, Massachusetts passed its physical with flying colors as February 2025’s handle of $628.2 was 15.8% higher than last February. Digital betting was overwhelmingly the betting conduit of choice, with $618.2 million, or over 98% of the bets made online.

Revenues in February were bolstered by an impressive 10.7% hold (win rate), which was the third time in the last four months that Massachusetts sportsbooks have averaged a double-digit hold. That spurred $67.1 million in revenues, an increase of 24.6% from February 2024. It was the fourth time over the last six months that revenues exceeded $60 million in the Bay State.

DraftKings Reigns in Massachusetts

Boston-based DraftKings maintained its iron grip on Massachusetts sports betting with another month at the top of the charts in terms of handle and revenue. In most markets, DraftKings takes a backseat to the nation’s most popular sportsbook, FanDuel, but in the Bay State, it has no peer.

DraftKings reported $317 million in accepted wagers, which generated $36.8 million in revenues at the end of February. These figures towered above all others, including runner-up FanDuel, which posted $167.2 million in bets, producing $19.6 million in profits.

It is a long way down to the next entry on the list, BetMGM, which reported a $54.5 million handle and $4.8 million in revenues for the month.

Massachusetts Retail Sportsbooks

Three casinos in Massachusetts house the state’s three sportsbooks, with Wynn’s Encore Boston Harbor as the biggest of the bunch, located just 10 minutes north of Boston in Everett, Massachusetts. However, February proved that the house doesn’t always win, as the Encore sportsbook took in $4.9 million in bets but lost $43,000 when the dust settled.

Plainridge Park reported a $3.4 million handle, but due to its meager 3% hold, only $101,000 in profits were made. MGM Springfield, on the other hand, reported far less sports betting action, posting a handle of $1.3 million, but because of its impressive 11.3% hold, wound up making $155,000 for the month.