DraftKings in Mass
DraftKings emerged as the leader in the Massachusetts sports betting market during the market’s first month post-launch, capturing 46.9% of sports betting handle, while generating $16.1m in gross gaming revenue (GGR). FanDuel, with a higher hold rate of 9%, was able to secure slightly higher GGR of $16.3m, with a smaller proportion of handle at $186.7m, or 33.1% of the total. BetMGM took third place with $7.4m in GGR from $46.9m in bets. Massachusetts has an impressive roster of professional sports teams, which contributed to the high level of bets per adult in the state. DraftKings is estimated to have accounted for the majority of bonus spending, while Boston was the most targeted media market among leading sports betting brands in March.