{"id":1585129,"date":"2024-06-19T09:35:08","date_gmt":"2024-06-19T13:35:08","guid":{"rendered":"https:\/\/sports7.us\/?p=1585129"},"modified":"2024-06-19T09:35:08","modified_gmt":"2024-06-19T13:35:08","slug":"massachusetts-sports-betting-handle-tops-587m-in-may","status":"publish","type":"post","link":"https:\/\/sports7.us\/news\/massachusetts-sports-betting-handle-tops-587m-in-may\/","title":{"rendered":"Massachusetts Sports Betting Handle Tops $587M In May"},"content":{"rendered":"<p>The Massachusetts sports betting handle climbed exponentially year-over-year in May, and combined operator revenues increased month-over-month. However, overall wagering activity dropped from April\u2019s haul, along with revenues compared to the same month in 2023.<\/p>\n<h2>Massachusetts sports betting handle posted a year-over-year increase of 32.4% from $457.1 million in May 2023<\/h2>\n<p>Sports bettors in the Bay State wagered $587.3 million with Massachusetts <a href=\"https:\/\/sports7.us\/betting-sites\/\">sports betting apps<\/a> and retail providers in May. It is a year-over-year handle increase of about 32.4% from $457.1 million in May 2023.<\/p>\n<p>Though, it's still a month-over-month 2.7% decline from the $603.3 million in sports wagering activity from April. Sports betting apps contributed roughly 98% of all wagers placed in the state last month.<\/p>\n<p>If May\u2019s sports betting handle is factored in, Massachusetts\u2019 lifetime total eclipsed $8 billion. Of that amount, $7.79 billion came from the state\u2019s online providers.<\/p>\n<p>Additionally, $59 million in gross sports wagering revenue was reported by Massachusetts sports betting providers in May. That's a 4.9% year-over-year decrease from almost $62.1 million in May 2023.<\/p>\n<p>But at least it was a 16.6% month-over-month climb from $50.6 million in April.<\/p>\n<h2>DraftKings led all other sportsbooks, represented over 50% of the mobile market share in the state<\/h2>\n<p>Massachusetts' most profitable sportsbooks had a 10.1% hold in May as well. That\u2019s down from a record 13.6% hold in May 2023, but it is an improvement compared to the 8.4% win rate from April.<\/p>\n<p>Founded in Boston in 2012, DraftKings was the top-performing Massachusetts sports betting site, accounting for more than half of the mobile market share in the state. The sportsbook accepted $299.5 million in bets in May. Based on a 9.7% hold, operators also reported $28.3 million in revenue for the month.<\/p>\n<p>FanDuel finished a distant second in May with a $172.4 million handle and $20.3 million in revenue from an 11.7% hold. BetMGM Massachusetts rounded out the top three with $39.3 million in bets and $3.1 million in revenues.<\/p>\n<p>Approximately $11.5 million in taxes was generated for local tax coffers. This stemmed from a 15% tax rate and $57 million in adjusted gross revenue was reported.<\/p>\n<p>Of course, May's performance brings the year-to-date total to $55.3 million. That's about $21.7 million better than the first five months of 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Massachusetts sports betting handle climbed exponentially year-over-year in May, and combined operator revenues increased month-over-month. However, overall wagering activity dropped from April\u2019s haul, along with revenues compared to the same month in 2023. Massachusetts sports betting handle posted a year-over-year increase of 32.4% from $457.1 million in May 2023 Sports bettors in the Bay [&hellip;]<\/p>\n","protected":false},"author":305,"featured_media":1585130,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[447316],"tags":[447423,447424,447426],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.3 (Yoast SEO v22.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Massachusetts Sports Betting Handle Tops $587M In May<\/title>\n<meta name=\"description\" content=\"The Massachusetts sports betting handle climbed exponentially year-over-year in May, and combined provider revenues increased month-over...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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