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The Bay State posted another impressive handle in December, seeing $658.6 million in wagers for the month. While the total was less than a 1% increase from the previous month, revenue saw a 20% increase. It was a welcome rebound for operators who saw Massachusetts bettors win at a high rate in November. The jump was also good news for the state, which generated $12 million in tax revenue.
The biggest surprise was that ESPN Bet gained the third-largest market share. The new sportsbook posted a handle of almost $50 million in its first full month of operation, beating out BetMGM by over $10 million.
The sports media giant partnered with Penn Interactive to take over the Barstool Sportsbook in 2023. They spent hundreds of millions nationwide on advertising and promotions, which appears to have paid off. Since its launch in November 2023, ESPN Bet has found itself beating out BetMGM and Caesars in markets nationwide. Since entering the market, those two Vegas-based sportsbooks have competed for market share behind FanDuel and DraftKings.
As impressive as their success has been, we have yet to learn how much of those totals are from their aggressive promotions for new players. Most new sportsbooks have started strong thanks to those promotions, but the numbers drop once they end. That means we don’t know precisely where ESPN Bet stands in the US sports betting market, but their numbers and strong brand have many experts believing this success will continue.
Michael is an avid sports fan and a veteran bettor from Milwaukee. He learned the trade from his grandfather in Las Vegas as a kid and has turned that into a successful career. He cheers for all Wisconsin pro teams along with his Alma Mater Arizona State. He specializes in baseball betting, but has experience in football, basketball, and hockey as well. When he isn’t pouring over stats, he’s spending time with his two young children.More info on Michael Savio
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