Online sportsbooks in the Bay State had a busy May.
The Massachusetts Gaming Commission (MGC) has reported $79.9 million in sports betting revenue for May. This was over 40% higher than May 2024 and around 22% higher than last month’s total.
The impressive result generated over $16 million in tax revenue, the second-highest total since the launch of online sports betting in Massachusetts. The highest total came in January, when the MGC reported $18.8 million in tax revenue.
One driving factor behind the revenue increase was a matchup between the New York Knicks and Boston Celtics in the NBA playoffs. New York pulled off an unexpected upset, leading to bettors in Massachusetts losing more money. As a result, the month saw revenue increase despite a 5% drop in handle compared to the previous month.
Massachusetts is the latest US market to report massive numbers for May. That includes neighboring New York, which set a new revenue record with $248.9 million.
DraftKings Leads the Way
Sports bettors in Massachusetts continue to favor the locally based DraftKings Sportsbook. The operator dominated once again in May, reporting a handle of over $330.83 million. This generated $8.3 million in tax revenue, which is close to as much as the combined total of the state’s other six sportsbooks.
FanDuel was a very distant second, with just $171.87 million in wagers. This is one of the most significant gaps you’ll see between the two industry leaders in the US, showing the loyalty the operator’s hometown bettors have.
BetMGM managed to edge out Fanatics for the third spot, but the latter ended up generating more revenue. BetMGM hasn’t come close to competing with DraftKings and FanDuel, but it has enjoyed a long run as the nation’s third-favorite sportsbooks. However, these numbers from Massachusetts show that Fanatics may be taking that title.
