Massachusetts Sets New Record with $788.3M Sports Betting Handle in December
Massachusetts closed out 2024 with another milestone in its sports betting market, recording a staggering $788.3 million handle in December. This marked the fourth consecutive month of breaking records, surpassing November’s previous high of $777.8 million.
Year-End Momentum Drives Record Handle
December’s handle reflected a 19.7% increase compared to December 2023 and a modest 1.4% growth over November 2024. Of the total, $776.8 million came from online bets, reaffirming the dominance of digital platforms in the state. Retail sportsbooks in casinos contributed a comparatively small $11.5 million,
Despite the record-breaking handle, the gross gaming revenue (GGR) of $59.2 million, adjusted to $57.3 million, reflected a hold of 7.5%.
Online Sportsbooks Dominate
The lion’s share of revenue came from online operators, which generated $57.4 million in GGR. By contrast, retail sportsbooks saw a meager $64,037 in revenue, with a razor-thin 0.56% hold.
Top Performers: DraftKings and FanDuel Lead the Pack
DraftKings maintained its position as the top operator in Massachusetts, achieving a December handle of $364.6 million and a revenue of $30.5 million, with a healthy 8.4% hold. The Boston-based company ended the year with an impressive $3.7 billion in total handle for 2024.
FanDuel followed as the second-largest operator, processing $241.5 million in bets for December and earning $19.4 million in revenue, with a 7.78% hold. Its annual handle reached $2.1 billion, reinforcing its strong presence in the state.
BetMGM rounded out the top three with $65.1 million in handle and $4.2 million in revenue, with a hold just under 7%.
Emerging Operators
Other players made notable contributions:
- Fanatics Sportsbook posted $46.9 million in handle and $2.6 million in revenue, with a hold of 5.33%.
- ESPN BET, one of the newer entrants, recorded $29.8 million in bets and $1.2 million in revenue, reflecting a modest 3.69% hold.
- Caesars processed $24.5 million in bets, earning $1.1 million, with a 4.10% hold.
- Bally Bet, despite its smaller footprint, managed a $4.5 million handle and $348,895 in revenue, with a 7.71% hold.
What’s Next for Massachusetts?
In legislative developments, Massachusetts is considering the legalization of online casino gaming. Senator Paul Feeney and Representative Daniel Cahill have introduced bills SD 2240 and HD 4084, respectively, aiming to regulate and license online casinos through the Massachusetts Gaming Commission.
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