In September, the sports betting industry in Massachusetts displayed robust growth, as it achieved a total handle of $512.2 million. This remarkable figure represents a substantial increase of 62.7% from the previous month. These positive trends signify the state’s growing enthusiasm for legal sports wagering, showcasing the industry’s potential.
Record-Breaking Online Betting:
Online betting played a pivotal role in this surge, contributing a significant portion of the total handle. A remarkable $499.7 million was wagered online, emphasizing the popularity and convenience of digital platforms for sports betting.
DraftKings, a prominent operator in the online sports betting sector, posted a record-breaking $28.2 million in revenue. This was generated from a staggering $290.1 million in bets, reflecting the operator’s strong market presence and growth in Massachusetts.
FanDuel also made a substantial impact, recording $14.2 million in revenue from a $121.9 million handle, further solidifying the online sector’s influence on the state’s sports betting landscape.
Retail Sportsbooks Contributing:
While online betting was the primary driver of growth, retail sportsbooks also played a significant role. These brick-and-mortar locations facilitated $12.4 million in wagers, underlining the diverse choices available to sports bettors in Massachusetts.
Notably, MGM Springfield reported revenue of $289,320 from a $1.6 million handle, while Plainridge Park Casino registered bets totaling $4.6 million and revenue of $282,699. Encore Boston Harbor reported $6.2 million in wagers and $242,313 in revenue.
Operator Performance:
The impressive growth in the Massachusetts sports betting industry was also reflected in the revenue generated by operators. In total, operators managed to generate $49.8 million in revenue, marking a substantial 119.4% increase from the preceding month.
Of this revenue, $49 million was attributed to online betting, underlining the dominance of digital platforms in driving the industry’s financial success. The remaining $783,017 was derived from retail sportsbooks.
Massachusetts’ sports betting industry witnessed remarkable growth in September, with a substantial $512.2 million handle. This surge was fueled by both the digital and retail sectors, with online betting accounting for the majority of the activity. The record-breaking revenue figures posted by prominent operators like DraftKings and FanDuel underscore the industry’s potential and its growing importance in the state. The positive trends in Massachusetts’s sports betting landscape reflect the industry’s robust and dynamic nature, which is likely to continue expanding in the coming months.