Handle Record for Massachusetts Falls in December

Massachusetts ended 2023 with a surge. One month after setting a new handle record in November, December's haul topped the short-lived high-water mark for the Bay State scene as our best sportsbooks continued with their impressive numbers.

It wasn't only the Massachusetts sports betting handle that set a record in December. According to the Massachusetts Gaming Commission's December report, revenues for the state's providers also set a new standard last month.

December represented the twelfth month of the legal Massachusetts sports betting scene. With last month's numbers added in, the Bay State's industry finished its first year of operation with $4.97 billion in overall wagers while eclipsing first-year projections in both sportsbook revenues and tax contributions.

$658.7 Million December Handle

Bettors in the Bay State spent a record $658.7 million with their Massachusetts sports betting apps and at brick-and-mortar facilities in December. That figure represents a slight but impressive $4.3 million month-over-month increase from the previous record of $654.4 million set in November.

The December haul almost took the Massachusetts legal sports betting scene past the $5 billion mark in the yearly handle. Remember, Massachusetts sports betting apps didn't launch in the state until before March Madness. Only retail sports wagering was available from January until March, but residents now can access numerous ways to take advantage of Massachusetts sportsbook promos.

If Massachusetts sports betting sites were operational on Jan. 1, the state's sportsbooks would have easily eclipsed the $5 billion year-long mark and may have even approached $6 billion.

Revenues set records too

The December Massachusetts legal sports betting activity wasn't the only record that fell in the state last month. 

Revenues for state sportsbooks set a new standard with $62.2 million in gross revenues. That number bests the previous high set in May by just under 90K. It is also a just under $12 million month-over-month improvement from the $50.55 million reported in November.

December represented the third straight month that state sportsbooks have combined for over $60 million in profits.

The 9.4% hold rate for Massachusetts sportsbooks was just under their yearlong average of 9.7%. Thanks to a 15% tax on retail sportsbook revenue and a 20% tax on mobile operators, just over $12 million in contributions flowed into needy state and local tax coffers.

To date, Massachusetts sports wagering operators have paid $93.9 million in tax contributions. It tops original expert estimates of $60 million in taxes for Massachusetts sports betting apps' first year of operation.

Home state DraftKings still dominates, ESPN BET makes a splash

The race to be the best Massachusetts sportsbook was predictably dominated by DraftKings, whose home base is in the Bay State. DraftKings Massachusetts made up $315.9 million, nearly 50% of the state's overall handle, and generated a state-best $30.7 million in revenues.

FanDuel Massachusetts finished second in the Massachusetts market with $187.4 million in accepted wagers and just under $20 million in revenues.

ESPN BET Massachusetts performed well as the third most successful operator in Massachusetts in December. There are currently eight Massachusetts sports betting apps operational. It took in a respectable $89.1 million and generated $4.2 million in revenues. Of note, ESPN BET's revenues slipped nearly 28% from November.