Massachusetts Sports Betting Revenue Hits Eight-Month Low

by Amelia Walker, April 02, 2025

Despite a year-on-year (YoY) increase, the Massachusetts betting market saw a significant drop in revenue. The Massachusetts Gaming Commission reports this is the lowest point since July 2024. The total amount wagered in February was $628.2 million, 17.6% down from January. Online betting platforms scored a total of $618.6 million, while retail sportsbooks earned a modest $9.6 million.

DraftKings Leads the Charts

When it comes to individual operators in the Bay State, DraftKings continues to be the indisputable leader. The company reported $36 in revenue from a $317 million handle, resulting in an 11.36% hold. FanDuel takes the second position – it generated $19.2 million from a $167.2 million handle, achieving an 11.48% hold.

BetMGM follows, with $4.7 million from $54.6 million in bets, which resulted in an 8.61% hold. Fanatics reached $3 million. Unlike Caesars and Bally Bet, ESPN exceeded $1 million in revenue.

Retail Sportsbooks and Casino Revenue

Among retail sportsbooks, MGM Springfield led the charts with $112,272 off $1.3 million, leaving an 8.56% hold. Plainridge Park Casino (PPC) garnered $93,119 from $3.3 million, while Encore Boston did not report any monthly revenue.

The Massachusetts Gaming Commission reports that land-based casino revenue also declined. It totaled $93.4 million in February, 7.16% less than the previous year and 4.6% less than January. Encore Boston Harbor remains the leader in casino gaming revenue with $59.3 million, followed by MGM Springfield at $20.9 million and Plainridge Park Casino at $13.2 million.

Tax Revenue and Future Outlook

The state collected $39.6 million in gambling taxes for February, which included $13.1 million from sports betting and $26.5 million from land-based casino operations. Despite the monthly dip, sports betting in the state shows growth, with analysts projecting further expansion as more operators enter the market.

PPC, a category II slots facility, is taxed at 49% of GGR. Of that total taxed amount, 82% is paid to Local Aid, and 18% is allotted to the Race Horse Development Fund. MGM Springfield and Encore Boston Harbor, category I resort-casinos, are taxed on 25% of GGR; those monies are allocated to several specific state funds as determined by the gaming statute.

The Massachusetts Gaming Commission