Massachusetts Sports Betting Hits $772.4M in March
Massachusetts’ sports betting market roared in March, with a total handle of $772.4 million, the third-highest monthly tally since online betting launched in March 2023.
A Record-Breaking Month
March figures mark an 18% year-over-year jump and a 22.9% surge from February’s $628.2 million. Driven by NCAA tournaments and heavy moneyline action, the Bay State’s $5.2 billion 2024 handle shows it’s a big player in the $13.7 billion U.S. betting scene.
But a low 7% operator hold, the second-lowest ever, kept profits in check.
Gross revenue hit $54.2 million, up 13.4% from March 2024 but down 19% from February’s $67.1 million. Taxable revenue reached $52.1 million, delivering $10.4 million in taxes, boosting the state’s 2025 tax haul to $42.3 million.
Since launch, Massachusetts has collected $254.4 million in betting taxes, funding public health and youth programs.
Online vs. Retail Breakdown
Online betting dominated, racking up $761.8 million in wagers and $51.9 million in revenue. Retail sportsbooks, like Encore Boston Harbor, lagged with a $10.6 million handle and just $265,536 in revenue, thanks to a slim 3.2% hold.
The low retail hold reflects bettor-friendly outcomes, especially on tournament favorites. Operators like DraftKings and FanDuel leaned on mobile apps, which handle 98% of the state’s bets.
Encore Boston Harbor led retail with $5.6 million in wagers but earned only $197,219 at a 3.49% hold. MGM Springfield, accepting $1.6 million in bets, posted zero taxable revenue for the fourth time since September 2024.
Operator Highlights
DraftKings ruled the online market, posting a $375.2 million handle and $29.3 million in gross revenue with a solid 7.8% hold, the highest among mobile operators.
FanDuel followed with $208.4 million in wagers and $14.3 million in revenue at a 6.9% hold. BetMGM handled $72 million, earning $4.3 million at a 5.9% hold, while Fanatics Sportsbook posted $48.3 million in bets and $2.2 million in revenue with a 4.7% hold.
ESPN BET and Caesars trailed, with handles of $26.5 million and $26.2 million, generating $1.75 million and $1.76 million in revenue, respectively. Their holds—5.66% and 6.7%—reflect the month’s bettor-friendly trend.
The 7% statewide hold, driven by upsets and favored moneyline wins, was the lowest since October 2024’s 6.7%.
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