DraftKings, FanDuel Tops in Massachusetts For Q1 2024

Mar 1, 2024; Boston, Massachusetts, USA; Boston Celtics forward Jayson Tatum (0) drives the ball against Dallas Mavericks guard Luka Doncic (77) in the second half at TD Garden. Mandatory Credit: David Butler II-USA TODAY Sports

• Six licensed operators presented their 2024 first quarter results to the Massachusetts Gaming Commission
• FanDuel, DraftKings were far and away the top operators in the state during its first three months of 2024
• The commission did not ask operators questions about limiting users, but the topic was addressed

DraftKings and FanDuel dominated the Massachusetts sports betting landscape for the first three months of 2024.

The state’s six licensed online sports betting operators today presented their Q1 2024 results to the Massachusetts Gaming Commission, updating the regulatory body on their total revenues, taxes, and responsible gaming measures for the first three months of the year.

As expected, DraftKings and FanDuel were by far the two most popular operators in the state, combining to bring in more than $28 million in tax revenue for the commonwealth through March.

Nobody Close to the Top Two Operators

DraftKings and FanDuel both tallied the highest revenue totals and tax revenues for the state, with hardly any of the other four licensed category 3 sports betting operators coming close their Q1 totals.

DraftKings reported $91,855,541 in total revenues through the first three months, which led to  $17,931,533, good for a 10.2% hold. FanDuel reported $54,351,010 in total revenue in Massachusetts, with $10,870,202 going into the Massachusetts tax coffers, good for a 10.25% hold rate.

No other licensed operator in the state eclipsed more than $3 million in tax revenue for Q1 2024.

Here are the total revenues and tax revenues for the remaining operators:

• BetMGM: $10,127,132 in total revenue. $2,025,426 in Massachusetts tax revenue
• Caesars Sportsbook: $3,129,923 in total revenue. $2,966,738 in Massachusetts tax revenue
• ESPN BET: $6,585,180 in total revenue. $1,317,036 in Massachusetts tax revenue
• Fanatics Betting and Gaming: $3,148,459 in total revenues. $603,625 in Massachusetts tax revenue

Touchy Subject Briefly Broached

Most watching the reports online wondered if the Massachusetts Gaming Commission would touch on the operators not participating in a recent public meeting held by the commission to discuss the practice of limiting users who win too often.

This is the first public meeting the operators attended since declining to attend the limit meeting, but the MGC did not broach the subject during the day.

MGC Interim Chair Jordan Maynard, however, did briefly mention the subject. The interim chair revealed that FanDuel reached out to the commission last Friday hoping to discuss the practice in a non-public meeting.

While Maynard thanked the operator for attempting to set the record straight, he said discussions on the subject would only take place in a public setting.

“I will ensure that FanDuel and any other operator know that each commissioner will need to be updated in a way that is transparent and fully compliant with the open meeting law. That said, I wanted to acknowledge that reach out and I’m hopeful for the future as our learning on this issue continues,” he said.

A follow up discussion on limiting users has been set by the MGC for Thursday, June 20.

Gambling