Massachusetts Post Impressive January Sports Betting Numbers

The Massachusetts Gaming Commission’s report for January highlights the performance of both online and retail sportsbooks, which collectively generated $96.4 million in gross revenue. This figure not only represents the highest revenue since the inception of online wagering but also surpasses the previous record set in November 2024 by a margin of nearly $14 million.

January’s results showed a year-over-year increase in sports betting profits, with a 32.6% rise compared to the same period in the previous year. This growth is particularly noteworthy given the context of a 17% year-over-year decrease in handle, which stood at $762.5 million for the month.

The most striking aspect of January’s performance was the record-breaking hold percentage of 12.6%, the highest ever recorded in Massachusetts since the legalization of sports betting. This exceptional hold rate contributed significantly to the state’s coffers, with $18.7 million in tax revenue generated from the adjusted revenue of $94.4 million.

Despite a slight 3.2% month-over-month decline in handle, Massachusetts’ sports betting market displayed remarkable resilience and recovery in January 2025. This turnaround mirrors trends observed in other U.S. markets, particularly following a challenging December 2024 for operators across the country.

The January rebound resulted in a substantial 62.8% month-over-month increase in revenue, the recovery can be attributed to several factors, including the success of operators during the NFL playoffs and the conclusion of the college football postseason.

Interestingly, while December 2024 saw a strong run by NFL favourites, benefiting bettors, January shifted the balance back in favour of the operators.

DraftKings: Maintaining Market Leadership

DraftKings has solidified its position as the market leader in Massachusetts, achieving its fifth consecutive month with a handle exceeding $350 million during the football season.

• Handle: $377.1 million (third-highest in the past five months)
• Revenue: $52.7 million
• Hold Percentage: 14%

FanDuel: Strong Second Place Performance

FanDuel continued to hold a solid second place in the Massachusetts market:

• Handle: $217.3 million (down from $241.5 million in December)
• Revenue: $29.3 million (up from $19.4 million in December)
• Hold Percentage: 13.5%

BetMGM: Steady Growth

BetMGM showed steady growth in the Massachusetts market:

• Handle: $63.2 million
• Revenue: $5.6 million (up from $4.2 million in December)