Jun 14, 2024; Dallas, Texas, USA; Boston Celtics forward Jayson Tatum (0) and Boston Celtics guard Jaylen Brown (7) react during the game during game four of the 2024 NBA Finals at American Airlines Center. Mandatory Credit: Kevin Jairaj-USA TODAY Sports
- The Massachusetts Gaming Commission reported $509.35 million in sports betting handle for June
- The commonwealth took in $184.5 million more in handle compared with June 2023
- The Boston Celtics run to an NBA championship in June likely helped bolster those numbers
Massachusetts should thank the Boston Celtics for a successful month of sports betting in June.
The Massachusetts Gaming Commission reported $509.35 million in sports betting handle for June, more than $184.5 million than the June 2023 handle total of $324.8 million.
The Boston Celtics likely stoked the higher interest in sports betting this month, as the franchise won its 18th NBA championship in June.
Celtics Run Bolsters June Sports Betting Figures
The commonwealth reported a June sports betting handle total of $509,356,529, with more than $500.7 million coming from online sports betting. The June 2024 sports betting handle total was 56.8% greater than the June 2023 total of $324,834,497.
Perhaps the main difference between this year and last? The 2023 Boston Celtics fell to the Miami Heat in Game 7 of the NBA Eastern Conference Finals on May 30, 2023, decreasing interest in the NBA playoff markets for Massachusetts users as they moved into June.
This year the Celtics cruised into the NBA Finals in June and won their 18th NBA championship, easily dispatching the Dallas Mavericks in five games. Their run was likely backed by thousands of Massachusetts sports betting users through the month.
The state collected $8,235,269 in sports betting tax revenue for the month, compared with $6,316,605 in June 2023.
DraftKings Continues Massachusetts Success
Hometown DraftKings continued its successful run in the commonwealth, reporting $263,661,417 in online sports betting handle for the month. FanDuel, the second highest operator in the state, reported $141,443,513 in online handle.
While DraftKings dominated in the handle category, the total taxable gaming revenues for both operators were far closer. DraftKings reported $19,348,848 in taxable gaming revenue compared with FanDuel’s $16,507,872.
Caesars Sportsbook had a rough month in the Bay State, reporting $19.63 million in online sports betting handle, but a loss of -$16,587 in taxable gaming revenue. It reported just $30,050 in accrual win for the month for a hold rate of 0.15%.
Here are the online sports betting totals for the month of June:
- BetMGM: $34,029,494 in online sports betting handle, $2,326,189 in taxable gaming revenue
- Caesars Sportsbook: $19,630,686 in online sports betting handle, -$16,587 in taxable gaming revenue
- DraftKings: $263,661,417 in online sports betting handle, $19,348,848 in taxable gaming revenue
- ESPN BET: $21,791,329 in online sports betting handle, $1,192,051 in taxable gaming revenue
- Fanatics Betting and Gaming: $20,158,923 in online sports betting handle, $1,691,459 in taxable gaming revenue
- FanDuel: $141,443,513 in online sports betting handle, $16,507,872 in taxable gaming revenue
Rob covers all regulatory developments in online gambling. He specializes in US sports betting news along with casino regulation news as one of the most trusted sources in the country.
The Boston Celtics’ unexpected run to the NBA Finals in June has had a significant impact on sports betting in Massachusetts. As the team advanced through the playoffs, fans and bettors alike were eager to place their wagers on the outcome of each game.
The surge in interest in sports betting during the Celtics’ playoff run can be attributed to several factors. First and foremost, the team’s success on the court generated excitement and enthusiasm among fans, leading to increased engagement with sports betting platforms. Additionally, the high stakes nature of playoff games and the potential for lucrative payouts further fueled interest in wagering on the Celtics’ games.
The rise in sports betting activity during the Celtics’ Finals run also had a positive effect on the state’s economy. With more people placing bets on the team’s games, sportsbooks saw a boost in revenue, which in turn contributed to increased tax revenue for the state. This influx of funds can be particularly beneficial as Massachusetts continues to recover from the economic impact of the COVID-19 pandemic.
Furthermore, the Celtics’ Finals run has highlighted the growing popularity of sports betting in Massachusetts. As more states legalize sports betting, residents are increasingly turning to online platforms to place their wagers on their favorite teams. The Celtics’ success in the playoffs served as a catalyst for this trend, drawing in new bettors and expanding the market for sports betting in the state.
Overall, the impact of the Celtics’ Finals run on sports betting in Massachusetts has been significant. The team’s success has not only generated excitement among fans but has also led to increased betting activity and revenue for sportsbooks. As sports betting continues to gain traction in the state, events like the Celtics’ playoff run will likely play a key role in shaping the future of the industry.
