DraftKings has emerged as the top sportsbook in Massachusetts, surpassing FanDuel, at least for now.
The Massachusetts Gaming Commission released the online sports betting handle and revenue totals for March 10-31 on Wednesday. Collectively, the six MA online sportsbooks reported a total gambling handle of $548.1 million. DraftKings accounted for the highest handle, with $257.6 million, representing 47% of the market. FanDuel was a close second with $181.1 million, accounting for 33% of the market.
Interestingly, FanDuel still reported higher revenue than DraftKings, with $16 million compared to DraftKings’ $15.6 million, mainly due to a higher revenue hold percentage.
Where the remaining sportsbooks ranking
BetMGM, which has established itself comfortably in third place in the US sports betting market, also holds the third position in Massachusetts. It reported a handle of $45.4 million, accounting for 8.3% of the market.
Barstool Sportsbook secured the fourth position in the first three weeks of MA on the web sports betting , with a handle of $29.5 million, representing 5.4% of the market.
WynnBET came in fifth place in March, with a handle of $18.2 million, making up 3.3% of the market. Its strong retail presence at Encore Boston Harbor, the state’s most popular casino, likely contributed to these numbers.
Surprisingly, Caesars Sportsbook finished in last place with a handle of $16.4 million, accounting for 3% of the market.
Therefore , by manage:
| Sportsbook | March manage | Market share |
| DraftKings | $257. six million | 47% |
| FanDuel | $181. 1 mil | 33% |
| BetMGM | $45. 4 million | 7. 3% |
| Bar stool Sportsbook | $29. 5 mil | 5. 4% |
| WynnBET | $18. 2 mil | 3. 3% |
| Caesars Sportsbook | $16. four million | 3% |
| Total | $548. 1 mil |
Through Massachusetts gambling revenue:
| Sportsbook | March income | Revenue keep % |
| FanDuel | $16 mil | 9. 02% |
| DraftKings | $15. 6 mil | 6. 26% |
| BetMGM | $7. 3 mil | 16. 41% |
| Barstool Sportsbook | $2. nine million | 12. 06% |
| WynnBET | $2 mil | 11. 36% |
| Caesars Sportsbook | $1. 7 million | eleven. 31% |
| Overall | $45. six million |
With nearly $46 million in taxable revenue, Massachusetts received $9.1 million in March sports betting tax payments.
The MGC releases the previous month’s data on the 15th of each month or the next business day if it falls on a weekend. This means we will receive the April online sports betting figures, the first full month of legal online gambling in Massachusetts, on Monday, May 15.
All six online sports betting apps launched in Massachusetts on March 12.
Why DraftKings is successful in Ma
FanDuel is the clear leader in the gambling market. In Q4 of 2022, it held a 50% share of the US sports betting market, followed by DraftKings Sportsbook at 27% and BetMGM at 12%. FanDuel currently has the largest market share in 15 out of its 19 states. DraftKings, on the other hand, is number one in Colorado, Wyoming, and now Massachusetts. (Colorado does not release sportsbook-specific data.)
Although DraftKings was founded in Massachusetts and still has its headquarters in downtown Boston, industry experts were uncertain whether this home-state advantage would be enough to surpass FanDuel for the top spot in Massachusetts. In the long run, FanDuel may regain that number one position due to its unmatched customer acquisition advantages.
Nevertheless, surpassing FanDuel, even if only for a few months, is a significant victory for DraftKings and they will no doubt invest resources into retaining that leading position. DraftKings has already shown a greater commitment to the Massachusetts market compared to others. They paid Boston legends Lenny Clarke, David Ortiz, Zdeno Chara and Brian Scalabrine to feature in a “Bet Local” commercial that began airing in Massachusetts on March 10. This commercial has been well-received and is part of DraftKings’ extensive online and offline advertising campaign in their home state.
Pay attention to promotional money
In addition, while FanDuel has not increased its Massachusetts sportsbook welcome offer beyond $250 in bonus bets and has actually reduced it to $150, DraftKings Massachusetts is still offering up to $1,200 in bonus bets. This $1,050 difference in promotional credit demonstrates the seriousness of DraftKings’ commitment to Massachusetts.
DraftKings’ success in the first month of online sports betting in Massachusetts is less surprising when considering search data from March in the state. According to analysis by PlayMA, DraftKings received nearly twice as many searches as FanDuel in Massachusetts from March 1-23. It is clear that this attention on Google translated into betting interest as well.
Matt Bain began as the Content Manager at PlayMA in 2022. Prior to that, he spent six years as a sports reporter and later as the Deputy Sports Editor for the Des Moines Register. During his time there, he received nine statewide journalism awards, including the Genevieve Mauck Stoufer Outstanding Young Iowa Journalists Award. As the Deputy Sports Editor, Matthew was responsible for overseeing the Register’s recruiting coverage and also contributed to the outlet’s high school sports coverage. Matthew graduated from San Diego State University and grew up in California, although he is somehow a Boston Celtics fan (with a long story behind it). Matt also led coverage of Prop 26 vs. Prop 27 in the California gambling election battle for Dipendenza Media.
