October was good for Massachusetts' best sportsbooks and the state's retail sports wagering providers. Five weeks of NFL action, college football, MLB playoffs, and the start of the NBA and NHL seasons led the Massachusetts legal sports betting industry to the second-best monthly handle and second-best revenue total in its eight months of comprehensive mobile and retail sports betting in the state.
DraftKings was the dominant legal sports betting provider in Massachusetts during October. According to the Massachusetts Gaming Commission October revenue report, DraftKings made up 57% of the total revenue reported for Bay State sports betting sites in October and more than half of the Massachusetts sports betting overall handle. During the last three months, it was revealed that DraftKings Massachusetts has more than doubled the total handle of their closest rival, FanDuel.
Total October handle
Massachusetts sportsbooks took in a total of $571.8 million during October, which ranks as the second-best wagering month since $579.3 million in April. It is also about a $52 million improvement from the nearly $519.8 million from September. No doubt Massachusetts sportsbook promos helped along the numbers.
More than five-hundred and fifty-five million of the $571.8 million total came from Massachusetts sports betting apps.
October's total should keep Massachusetts in America's Top 10 legal sports betting states. It is a market that just added ESPN BET on Tuesday, so another spike in wagering activity could be on the horizon.
As far as revenues...
Massachusetts sportsbooks also had a good October in terms of revenues. Total gross revenues for Bay State betting apps and retail sports betting came in at $60.5 million. Only $62.1 million in May was a better profit month for state providers.
A little over fifty million in revenues was reported for state sports wagering providers in September.
Taxable revenues for Massachusetts sports sportsbooks came in at $59.2 million, allowing $11.8 million in taxes to be collected for state and local coffers. October's contributions took the 10-month tax total (eight months of legalized Massachusetts mobile apps) to a whopping $72 million.
DraftKings is the big winner
To nobody's surprise, DraftKings Sportsbook — headquartered in Boston — was the most popular Massachusetts sports betting app. What was a bit of a surprise was the distance it has put itself and the competition in the Bay State.
DraftKings set a new monthly high for handle and revenues in a given month during October. Its $304.8 million in bets was the first time a single Massachusetts sportsbook hit the $300 million plateau, besting its previous record of $290.1 million from September.
Remember, Massachusetts total handle for October was $571.8 million.
DraftKings sportsbook was the first to reach $30 million in revenues for a month in Massachusetts, doing so for a second time in October. DraftKings reported $34.3 million in October revenues, thanks partly to an 11.2% hold. Its previous record was $30.6 million in May.
FanDuel Massachusetts came far behind DraftKings with $156.6 million in October wagers and $15.9 million in revenues.
BetMGM Massachusetts landed in third with $35 million and $4.4 million in revenues in October. Caesars Sportsbook Massachusetts finished October with nearly $19.1 million in bets and $1.55 million in revenue, good for fourth.
In its last full month of operation in Massachusetts, Barstool Sportsbook Massachusetts was fifth in terms of handle, with $13.9 million and $1.48 million in revenues. Fanatics Massachusetts continued its ascension with $13.59 in October bets and $1.29 million in revenues, WynnBET was next with $13.49 million in wagers, and Betr checked in with just $324,273.45 on bets in October.