Massachusetts Reports Second Most Profitable Month of Sports Betting Since Launch

• The Massachusetts Gaming Commission reported $16.1 million in sports betting revenue for the month of May
• It is the second most profitable month of sports betting in the commonwealth ever
• The Boston Celtics being upset by the New York Knicks in the NBA playoffs likely led to the high profits

Perhaps Massachusetts sports betting operators should send Jalen Brunson and the New York Knicks a thank you gift for the nearly record setting profits reported in the commonwealth for May?

The Massachusetts Gaming Commission reported more than $16.1 million in sports betting tax revenues in May, the second-highest monthly tax revenue total in the state’s history.

January 2025 set the record, with $18.8 million in profits.

Knicks Upset of Celtics to High Sports Betting Revenues

One should only look to the outcome of the NBA playoffs in May to understand why licensed Massachusetts sports betting operators did so well. The Boston Celtics, the top-seed in the NBA’s Eastern Conference and favorites to win the championship, were upset by the New York Knicks in the conference semifinals.

Prior to the start of the second round, the Knicks were heavy underdogs at +550 to defeat the Boston Celtics. The Knicks eventually won the series by a 4-2 mark and sports betting operators reaped the benefits, as money flowed in on the hometown franchise.

The Massachusetts Gaming Commission reported $655,788,462 in total sports betting handle. Online sports betting accounts for more than $645.7 million of the month’s total. The commission reported $80,732,076 in taxable gaming revenues, which led to $16,104,935 in sports betting tax revenue.

This led to a 12.58% revenue hold for the month.

The state saw a nearly $3 million increase in sports betting tax revenue when compared with April’s totals.

DraftKings Dominates Massachusetts

DraftKings yet again outperformed the other six licensed sportsbook operators in the commonwealth by a wide margin. In May, DraftKings reported $330.83 million in sports betting handle, with FanDuel reporting $171.87 million.

DraftKings reported $42,425,523 in accrual win, good for a 12.82% hold. The operator contributed $8.3 million in sports betting tax revenue to the commonwealth in May.

Fanatics Sportsbook was the only other operator in the state to eclipse $1 million in sports betting tax revenues for the month.

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

• Bally Bet: $4,868,300 in online sports betting handle, $211,172 in taxable gaming revenue
• BetMGM: $49,210,361 in online sports betting handle, $4,901,527 in taxable gaming revenue
• Caesars Sportsbook: $20,653,741 in online sports betting handle, $1,704,157 in taxable gaming revenue
• DraftKings: $330,830,003 in online sports betting handle, $41,622,374 in taxable gaming revenue
• ESPN BET: $21,938,884 in online sports betting handle, $2,623,744 in taxable gaming revenue
• Fanatics Betting and Gaming: $46,324,784 in online sports betting handle, $5,787,899 in taxable gaming revenue
• FanDuel: $171,877,557 in online sports betting handle, $23,051,595 in taxable gaming revenue