Massachusetts Sports Betting Hits Record High in December 2023

According to the latest revenue report from the Massachusetts Gaming Commission, sports bettors in the Bay State placed an astonishing $658.6 million in bets with both online and retail operators.

Record-Breaking Handle in December

The total amount wagered in December was $658.6 million, the highest since the inception of MA online sports betting in March.

Online operators accounted for the lion’s share, accepting over $643.1 million in bets, while the three retail sportsbooks in the state took $15.5 million.

The December handle surpassed November’s record by more than $4.2 million.

Financial Impacts

• Taxable Revenue: Operators generated $60.5 million in taxable revenue from December’s handle.
• State Revenue: This resulted in the state receiving $12 million in sports betting tax payments.
• 2023 Totals: Throughout 2023, approximately $4.9 billion in bets were placed, generating $471.1 million in taxable revenue and contributing about $93.8 million in taxes to Massachusetts.

DraftKings: The Undisputed Leader

DraftKings Massachusetts has consistently maintained its dominance in the MA sports betting market, ending 2023 as the ‘top dog’.

DraftKings held 49.1% of the state’s sports betting market share in December, with $315.8 million in bets.

Our Comment on the Article

The staggering growth in Massachusetts’ sports betting market highlights the state’s robust appetite for sports wagering and its significant contribution to the state’s economy.

The dominance of platforms like DraftKings and FanDuel underscores the competitive nature of the industry. As Massachusetts continues to embrace sports betting, it will be interesting to observe how this market evolves, particularly with emerging players like ESPN BET and BetMGM.

This trend not only reflects the popularity of sports betting in the Bay State but also indicates a thriving industry with potential for further expansion and innovation.