After months of soft launch, Fanatics started revving things up with the start of football season. In Massachusetts this past September, Fanatics doubled its handle from August, accepting almost $8.9 million in wager compared to $4.4 million the month prior according to the latest report from the Massachusetts Gaming Commission.
While a big jump comparatively, the numbers still put Fanatics near the back of the pack for the month. At the front of the pack is DraftKings, which continues to extend its market advantage in the state. The Boston-based operator collected $290 million in handle, making up 58% of the $500 million in bets taken across the state’s eight online sportsbooks.
FanDuel was second in handle with less than half the action of DraftKings at $122 million. BetMGM rounded out the top three with $33.5 million in wagers.
Statewide taxable gaming revenue amounted to $49 million, amounting to a roughly 10% hold across operators. Those numbers also translated into $9.8 million for the state in tax dollars.
With its performance, Fanatics ranked seventh, outperforming only Betr, which did a mere $303,000 in handle in September with the company focusing fall football marketing efforts on its new Betr Picks site.
Fanatics Sportsbook’s growth also puts it within striking distance of both WynnBet, which did $13.9 million in handle for the month, and Barstool Sportsbook, which posted $13 million.
Wynn pulled out of several markets but remained in Massachusetts given the land-based presence of Encore Boston Harbor. Barstool is currently operating with no marketing promotion as the brand readies to sunset in favor of ESPN BET.
Every operator save for Barstool saw a month-over-month uptick from August to September likely related to the rollout of the football season but it was Fanatics who saw the most month-over-month growth. Another performance in October could potentially vault it into the echelon of Caesars, which handled $18.1 million in September.
As noted in this graph provided by the MGC, the market is still changing radically in terms of market share. Even October and November results will need to be taken with a grain of salt, as it won’t indicate the impact the ESPN/Penn deal will have in the state.
