Massachusetts Sports Betting Surges in March

In March, Massachusetts reported a significant increase in its sports betting handle, rising over $110 million from the previous month.

The total sports betting handle for the state reached $642.3 million, marking a 20.7% increase from February’s $542.5 million. This substantial growth, however, did not surpass the record set in January of $651.7 million.

Revenue and Tax Contributions

Despite the increase in betting activity, the taxable gaming revenue in Massachusetts saw a decline, totaling $46.2 million, which is 13.6% lower than February’s $52.5 million.

Consequently, tax contributions to the state also decreased to $9.2 million from the previous month’s $10.5 million. Since the legalization of sports betting at the start of 2023, Massachusetts has collected a total of $127.8 million in tax contributions from the sector.

DraftKings Leads the Market

DraftKings had a particularly strong performance in March, with a handle of $323.0 million, up 19.7% from its February figure of $269.8 million.

This made DraftKings the leading operator for the month, significantly outpacing its competitor FanDuel, which took $119.4 million in bets and generated $15.2 million in revenue.