Massachusetts Reports Record Sports Betting Handle in December
Massachusetts set a new record for sports betting handle in December 2024, with wagers totalling $788.3 million (£639.3 million/€757.4 million). This marks the fourth consecutive month of record-breaking betting figures in the state. The December total exceeded November’s previous record of $777.8 million by 1.4% and represented a 19.7% increase compared to December 2023’s $658.7 million.
Breakdown of Betting Figures
According to data from the Massachusetts Gaming Commission, $776.8 million of December’s handle came from online betting, while retail sportsbooks across the state accounted for $11.5 million in wagers.
However, taxable gaming revenue for December declined by 5.1% year-on-year to $57.5 million, a 28.6% drop from November’s record revenue of $80.5 million. The decline has been attributed to customer-friendly sports outcomes that affected the industry in December.
Online betting generated nearly all of the month’s revenue at $57.4 million, while retail sportsbooks contributed just $64,037. The overall hold rate for Massachusetts stood at 7.29%, with online betting achieving a 7.39% hold and retail betting trailing significantly at 0.56%.
Leading Operators in Massachusetts
DraftKings continues to dominate the Massachusetts online sports betting market. In December, it earned $29.6 million in revenue from $364.6 million in wagers, maintaining an 8.12% hold.
FanDuel followed as the second-largest operator, with $18.8 million in revenue from $241.5 million in bets, achieving a 7.78% hold. BetMGM placed third, generating $4.0 million in revenue from a $65.1 million handle for a 6.14% hold.
Fanatics Sportsbook reported $2.5 million in revenue from $46.9 million in wagers, resulting in a 5.33% hold. ESPN Bet and Caesars Sportsbook earned $1.1 million and $1.0 million in revenue, respectively, with hold rates of 3.69% and 4.10%. Bally Bet rounded out the sector with $348,895 in revenue from $4.5 million in bets for a 7.71% hold.
Retail Betting Performance
Retail sportsbooks struggled in December, with Plainridge Park Casino (Penn Entertainment) being the sole location to post positive revenue. The casino reported $64,037 in revenue from $4.3 million in bets, achieving a 1.49% hold.
Encore Boston Harbor processed the largest in-person handle of $6.1 million but failed to generate any revenue. MGM Springfield similarly reported no revenue, despite a handle of $1.1 million.
Casino Gaming Revenue
Massachusetts casinos reported gross gaming revenue of $102.2 million from slots and table games in December, a 0.9% year-on-year decrease but a 1.3% month-on-month increase. Slots contributed $70.1 million, while table games accounted for $32.1 million.
Encore Boston Harbor led casino performance with $64.9 million in revenue. MGM Springfield reported $22.7 million, and Plainridge Park Casino posted $14.6 million.
Tax Contributions
Sports betting generated $11.5 million in taxes for the state, with the majority derived from online betting. Meanwhile, casino gaming taxes totalled $29.0 million for December.