In June, Massachusetts sportsbooks claimed $42 million in revenue

On Monday, the Massachusetts Gaming Commission reported $42.3 million in gross sports betting revenue for June. Operator winnings were up 28.1% compared to their numbers in June of 2023. That was notably lagging behind the 53.4% surge in their betting handle to $509.4 million. The Boston Celtics winning their 18th NBA title in June undoubtedly played a role in their gross sports revenue recorded. Even with the success in June, their sports betting handle was down 13.3% compared to May’s $587.3 million. Their gross revenue declined by 28.4%. Additionally, their 8.3% hold on the market was 1.7 percentage points lower than May. Despite being the lowest of the 12 states to report monthly figures for June, Massachusetts was still well above the 7% industry standard at 20%.

DraftKings is still at the top of the betting market in Massachusetts

It’s no surprise that DraftKings is the top sports betting market in Massachusetts. The industry leader is based in Boston. In June, more than half of DraftKings’ betting handle derived from their mobile sportsbooks. Their totals for last month were $263.7 million. Massachusetts’s all-time betting action cleared $4 billion in just 16 months of legal wagering. The Bay State had a 7.6% hold and snapped a nine-month streak of at least $20 million in gross revenue. DraftKings was just $16,500 short of making that a 10-month streak. Their winnings in June were just enough to push DraftKings over $400 million in total gross winnings.

For the third straight month, FanDuel attained an 11% hold on the market. They also collected $16.8 million in revenue from $141.4 million worth of wagers. Additionally, FanDuel’s handle in 2024 topped $1 billion, along with surpassing $250 million in total gross revenue. FanDuel has an all-time 10,8% hold in the Massachusetts betting market from a $2.43 billion handle. BetMGM had $2.4 million in winnings from a $34 million handle and a 7.1% hold. It was the fourth straight month that BetMGM had a sub-8% hold.