Massachusetts Latest State to Report Sports Betting Handle Record

Massachusetts sportsbooks followed a familiar pattern of monthly handle records for their sports wagering scene as our best sportsbooks continued to post good numbers in November.

The Massachusetts Gaming Commission's November revenue report has been released, revealing an all-time high in sports betting activity in the Bay State. Unfortunately, thanks to an underwhelming sportsbook hold, revenue figures for Massachusetts sports betting apps and the state's retail providers failed to reach new highs.

Strong starts by the NBA's Boston Celtics and the NHL's Boston Bruins have certainly helped the bottom line for the legal Massachusetts sports betting scene. Too bad about the miserable season the New England Patriots are in the midst of.

$654.4 million in November bets for Massachusetts

In November, Massachusetts sports bettors spent $654.4 million at the state's sportsbooks. Last month was the most successful month for Massachusetts sports betting sites, bettering the previous handle record of $579.3 million set in April. Residents likely took advantage of numerous Massachusetts sportsbook promos throughout the month.

The $654.4 million also represented a 14.5% month-over-month improvement from the $571.8 million wagering activity in October.

With November's figures added in, the Massachusetts sports betting app's lifetime handle surpassed $4.3 billion since its launch on Jan. 31.

Revenues slide

Despite the record handle reported, revenues for Massachusetts sports betting apps were slightly disappointing. State sportsbooks reported $50.6 million in revenues in November, down 16.5% month-over-month from the $60.5 million in October.

The monthly revenue record for Massachusetts sportsbooks came in May when nearly $60.3 million in profits were reported.

Massachusetts sportsbooks' win rate from November was 7.7%, slightly above the national average 7% hold rate, but down from 10.7% in October to 9.8% in September.

Adjusted gross revenues came in at $48.9 million, which allowed $9.8 million in taxes to be collected for Massachusetts state and local coffers.

ESPN BET off to a strong start but finishes behind DraftKings and FanDuel

The first numbers for ESPN BET have emerged nationwide, with the numbers not jumping off the page for their first two-plus weeks of operation. ESPN BET in Massachusetts, however, got off to a strong start, finishing third in terms of operator handle for November.

ESPN BET finished with $39.1 million in accepted wagers in Massachusetts between its launch date on Nov. 14 and the end of the month — 6.1% of the Massachusetts sports betting apps total for the month. The $5.8 million in November revenues put the provider third in Massachusetts sportsbook earnings.

Home-state DraftKings Massachusetts was the top Massachusetts sportsbook last month despite recent state regulatory issues. It generated a record $320 million monthly handle and $27.2 million in revenues.

FanDuel Massachusetts finished a familiar second in the Bay State legal sports betting market with $181.5 million in November bets, its best-ever monthly total in the state, as it reported $12.6 million in revenues.

BetMGM Massachusetts was fourth, behind ESPN BET, with $38.9 million in bets and $3.1 million in revenues, and Fanatics Massachusetts rounded out the top 5 with $15.8 million in November wagers and $730,000 in revenue.