• The Massachusetts Gaming Commission reported more than $447.3 million in sports betting handle for the month of August
• Retail and online sports betting generated $33.3 million in gaming revenues
• Massachusetts took in more than $6.6 million in sports betting tax revenue for the month

Massachusetts ended the summer on a strong note as it moves into the lucrative football season.

The Massachusetts Gaming Commission reported $447,318,475 in total sports betting handle for the month of August, as it took in more than $33.3 million in taxable gaming revenue for a hold of more than 7.7%.

The month led to the state taking in more than $6.6 million in sports betting tax revenue during August.

Sprinting into Football Season

The Massachusetts Gaming Commission reported $447,318,475 in total sports betting tax revenue for the month, a 36% increase in total handle from the August 2023 total of $305,739,028.

The state took in $6,601,433 in sports betting tax revenue, a more than $2 million increase over the August 2023 tax revenue total of $4,471,656. It was an impressive end to a typically slow time of year for sports betting, as the commonwealth moves into the lucrative football season. Operators and states make most of their tax revenues over the next several months when football is available to bet on.

To date, Massachusetts has collected approximately $173.25 million in total taxes from sports betting since it launched in-person on January 31, 2023 and online on March 10, 2023.

DraftKings Continues Massachusetts Dominance

DraftKings continued its impressive run in its home state, nearly doubling FanDuel’s total handle. DraftKings reported $229,375,488 in online sports betting handle for the month, compared with FanDuel’s $118,224,617 handle.

The total taxable gaming revenues for both operators were closer, but DraftKings still edged out rival FanDuel DraftKings reported $16,239,518 in taxable gaming revenue compared with FanDuel’s $10,658,529. DraftKings generated $3.2 million in taxes for the commonwealth compared with FanDuel’s $2.1 million.

Caesars Sportsbook and Bally Bet were the only two operators in the state to generate less than a million in taxable gaming revenue, with Caesars Sportsbook generating $674K and Bally Bet $222K. Caesars only accounted for only a 4.46% hold for its $15.99 million online sports betting handle.

ESPN BET reported $1.3 million in taxable gaming revenue for the month.

Here are the online sports betting totals for the month of August:

• BetMGM: $31,118,524 in online sports betting handle, $2,274,818 in taxable gaming revenue
• Caesars Sportsbook: $15,998,314 in online sports betting handle, $674,279 in taxable gaming revenue
• DraftKings: $229,375,488 in online sports betting handle, $16,239,518 in taxable gaming revenue
• ESPN BET: $16,679,915 in online sports betting handle, $1,322,444 in taxable gaming revenue
• Fanatics Betting and Gaming: $25,859,712 in online sports betting handle, $1,551,728 in taxable gaming revenue
• FanDuel: $118,224,617 in online sports betting handle, $10,658,529 in taxable gaming revenue

The post Massachusetts Ends Strong Sports Betting Summer appeared first on Sports Betting Dime.