Data from the Massachusetts Gaming Commission shows that in September 2024, the total sports betting handle in the state reached $800.3 million, setting a new monthly record since the regulated market was established, with a 1.5% increase from the previous record in January and a year-over-year increase of 17.9%. Online betting accounted for 98.6% of this, amounting to $789.4 million, while retail betting was $10.9 million. Taxable gaming revenue was $52.3 million, with DraftKings leading the market with a betting handle of $409.6 million and revenue of $26.1 million. The three casinos had a total revenue of $95.7 million, and the state's gaming tax revenue reached $37.8 million.
Record-Breaking Total Handle
In September, Massachusetts' total sports betting handle surpassed $800.3 million, breaking the previous record of $788.3 million from January 2025, with a month-over-month increase of 46.8% and a year-over-year increase of 17.9%. The online betting handle of $789.4 million alone has surpassed the previous all-channel record, indicating a continued strong digital trend.
This data indicates that the state's sports betting market remains in a state of active growth.
Revenue Performance and Hold Percentage Analysis
Taxable gaming revenue was $52.3 million, significantly lower than the January peak of $96.4 million, with a month-over-month decrease of 6.3% and a year-over-year decrease of 28.8%. Online gaming revenue was $52 million, and retail revenue was $387,000, with a combined hold percentage of 6.54% for the month.
The discrepancy between revenue growth and betting volume reflects increased market competition and promotional intensity.
Online Operator Market Landscape
DraftKings maintains its leading position with a betting handle of $409.6 million and revenue of $26.1 million, holding a rate of 6.37%. FanDuel had a betting handle of $192.6 million and revenue of $15.9 million, with the industry's highest hold rate of 8.26%. BetMGM ranked third with a betting handle of $51.4 million and revenue of $4.1 million.
The market is highly concentrated, with top operators clearly having an advantage.
Performance Comparison of Other Operators
Fanatics had a betting handle of $83.2 million and revenue of $3.1 million, with a hold rate of 3.73%; ESPN had a betting handle of $24 million and revenue of $1.4 million; Caesars had a betting handle of $24.6 million and revenue of $1.1 million. Bally Bet had a betting handle of $4.1 million and revenue of $261,000, with a hold rate of 6.38%.
Smaller operators are finding growth opportunities in specific market segments.
Retail Casino Operations
Encore Boston Harbor leads the retail segment, with a betting handle of $221,000 and net profit of $5.1 million, holding a rate of 4.34%. Plainridge Park Casino had a betting handle of $165,000 and net profit of $4.8 million. MGM Springfield had a betting handle of $987,000 but did not disclose revenue data.
While the number of retail points is limited, the efficiency per point is significant.
Casino Revenue Distribution
The three casinos had a total revenue of $95.7 million in September, with a month-over-month decrease of 8.9% and a year-over-year increase of 3.9%. Slot machine revenue was $67.6 million, and table game revenue was $28.2 million. Encore Boston Harbor led with revenue of $59.1 million, MGM Springfield followed with $22.3 million, and Plainridge Park had $14.3 million.
The revenue structure of the casinos remains stable, with slot machines contributing the main part.
Tax Contributions and Distribution
The total gaming tax revenue for the state was $37.8 million, with sports betting tax revenue at $10.4 million and casino gaming tax revenue at $27.4 million. The distribution of taxes reflects the actual fiscal contributions of different segments, with casino operations still being the main source of tax revenue.
Tax data reflects the overall scale of the industry and its economic impact.
Market Dynamics and Trend Analysis
The record-high betting volume shows continued strong consumer demand, but the slowing growth in revenue suggests the industry may be entering a more competitive phase. The absolute dominance of online channels is consolidated, with retail channels existing as a supplement.
The differences in hold rates reflect the strategic choices and risk preferences of operators.
Regulatory Environment and Future Outlook
The Massachusetts Gaming Commission continues to monitor market operations to ensure compliance and market order. The continued growth in betting volume indicates that the market is not yet saturated and has further development potential.
The stability of the regulatory framework provides a predictable operating environment for market participants.
Industry Impact and Economic Significance
The gaming industry provides stable tax revenue for the state government, supporting public services and infrastructure construction. The record-breaking betting volume indicates the significant role of this industry in economic activity, also driving related industry development.
Balancing economic benefits and social responsibilities remains key to long-term development.
