The Massachusetts Gaming Commission sports betting handle and revenue report for February 2025 reveals Bay State sportsbooks have significantly outpaced last year in both categories.
Sports Betting Soars in Massachusetts
It is no secret that Boston sports are treated like a religion in Massachusetts, and that fervor extends to Bay State bettors who are not shy about backing their opinions with cold, hard cash. Massachusetts launched mobile sports betting in March 2023, and since that time, the numbers have continued to rise, as evidenced by the growing year-over-year numbers.
The Super Bowl bolstered sports betting activity around the nation, and Massachusetts was no exception. In February, the Massachusetts Gaming Commission reported online sportsbooks contributed $618.6 million of the $628.2 million wagered in February, which was a 15.8% increase over last February.
Reported revenues showed an even greater increase, spiking 24.6% from February 2024 to $67.1 million in profits for this February. It was the fourth time in six months that Massachusetts sportsbooks combined for revenues in excess of $60 million, which was made possible by February’s hold rate of 10.7%, the third time in four months the win rate has hit double digits.
DraftKings Reigns Supreme
Massachusetts is a highly provincial area; therefore, it is not surprising that Bay State bettors prefer Boston-based DraftKings as their sportsbook of choice. Unlike in other markets where DraftKings plays Robin to FanDuel’s Batman, in the Bay State the roles are reversed.
DraftKings was the market leader in February with a $317 million handle, which generated $36.8 million in revenues, both tops in those categories. FanDuel reported $167.2 million in accepted wagers, which delivered $19.6 million in monthly profits for the national gaming industry leader.
In the next tier down, we find BetMGM, whose parent company, MGM Entertainment, owns MGM Springfield, one of three land-based casinos and sportsbooks in the state. The company reported $54.5 million in wagers, which produced $4.8 million in revenue in February.
Fanatics Sportsbook showed a $33 million handle, which produced $3.1 million in profits, while ESPN BET followed with $22 million in bets, generating $1.6 million in monthly revenues.
Immediately behind ESPN BET was Las Vegas-based Caesars, which showed a $21.1 million handle but only managed $639,848 in profits for February.
Bally Bet held up the rear as it is the latest entry into the Massachusetts sports betting market, launching in July 2024, a full year and a half after obtaining its license. February showed a meager $3.8 million in wagers, producing $286,550 in revenues for the month.
Bettors Rough Up Encore
The state’s leading retail sportsbook, Encore, located in MGM’s Boston Harbor Hotel just 10 minutes north of Boston in Everett, Massachusetts, took it on the chin in February despite contributing $4.9 million of the three sportsbooks’ combined $9.6 million handle for the month.
The Encore actually lost $43,000 in February, while Plainridge Park’s sportsbook reported a 3% hold, generating revenues of only $101,000. However, MGM Springfield registered an 11.8% hold, which led to profits of $155,000 on its $1.3-million handle.
