Massachusetts sports betting taxable revenue was at $80.7 million in May, which was the most since January 2025 ($94.4 million). This represented a significant year-over-year increase, as the state reached $57.6 million in May 2024.
The Massachusetts Gaming Commission released a full breakdown of May 2025 sports betting revenue, highlighting how total taxable gaming revenue increased by nearly $15 million in May compared to April.
| Month | Taxable Gaming Revenue |
|---|---|
| May | $80.7 million |
| April | $65.9 million |
| March | $52.1 million |
| February | $65.4 million |
| January | $93.6 million |
Despite the four-month high in taxable revenue, there were actually fewer total wagers settled in May.
| Month | Total Wagers Settled |
|---|---|
| May | $645.7 million |
| April | $680.5 million |
| March | $761.8 million |
| February | $618.6 million |
| January | $762.6 million |
The four-month high in revenue, despite a decrease in total bets, was largely driven by the NBA playoffs.
This included a couple of surprising upsets, including the New York Knicks over the Boston Celtics, followed by the Indiana Pacers knocking off the Knicks. These results helped operators generate more revenue because most sports bettors target favorites.
The opposite was true in March, which had the most total wagers of the year at $761.8 million, but only with $52.1 million.
The increase in overall activity was due to the popular college basketball tournament, March Madness. The lack of revenue was because so many favorites won, which helped sports bettors more than sportsbooks.
These two examples highlight how in-game results can impact overall revenue.
DraftKings remains the clear-cut leader in the Massachusetts market, even over second-place FanDuel, featuring nearly $20 million more in taxable gaming revenue for May.
| Operator | Taxable Gaming Revenue (May 2025) |
|---|---|
| DraftKings | $41.6 million |
| FanDuel | $23.1 million |
| Fanatics | $5.8 million |
| BetMGM | $4.9 million |
| ESPN BET | $2.6 million |
| Caesars | $1.7 million |
| Bally Bet | $0.2 million |
DraftKings accounted for 51.5% of the total taxable gaming revenue for sports betting in May. It was the third time in the last four months that DraftKings surpassed $36 million in taxable revenue, highlighting their clear lead in this market.
While DraftKings and FanDuel remain the clear market leaders, there’s a third operator who is gaining ground in Massachusetts, setting a new high in monthly revenue for 2025.
Fanatics has surpassed BetMGM for the first time, ranking third in the Massachusetts market. Below is a monthly breakdown of taxable gaming revenue for each operator since January 2025.
| Operator | April | March | February | January |
|---|---|---|---|---|
| DraftKings | $37.8 million | $28.4 million | $36.0 million | $51.8 million |
| FanDuel | $17.9 million | $13.8 million | $19.2 million | $28.8 million |
| BetMGM | $3.9 million | $4.1 million | $4.7 million | $5.5 million |
| Fanatics | $3.1 million | $2.1 million | $3.0 million | $3.5 million |
| ESPN BET | $1.8 million | $1.5 million | $1.5 million | $2.3 million |
| Caesars | $0.7 million | $1.7 million | $0.6 million | $1.2 million |
| Bally Bet | $0.17 million | $0.18 million | $0.28 million | $0.49 million |
This is a nationwide trend of growth for Fanatics, as seen in New Jersey sports betting revenue in May as well.
