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Bally Bet is preparing to hold something of a monopoly in Rhode Island come November, but if neighboring Massachusetts any indication, those in the Ocean State might not have a whole lot to celebrate.
Bally Bet pretty much bombed in Mass for the month of April, at least when compared to the likes of market leaders DraftKings and FanDuel.
Ball Bet reported just $4.6M in handle and $0.49M in revenue compared to its counterparts DraftKings, leading the pack with $335.1M in handle and $43.96M, and FanDuel with $167.7M in handle and $22.48M in revenue.
In sports betting lingo:
- Handle = the total amount of money wagered by customers.
- Revenue (sometimes called “gross gaming revenue” or “hold”) = the amount the sportsbook kept after paying out winning bets.
$0.49M kept by Bally Bet is equivalent to $490,000. Draftkings made just shy of 90 times that number.
Bally Bet's participation in the Rhode Island sports gambling market will require it to pay that state 51% of what it takes in. That means, if Bally Bet makes $490,000 for the month, they get to keep $245,000. We know of affiliates who make more than that in a given month.
April 2026 Sports Betting Report
| Metric | April 2026 |
|---|---|
| Total handle | $678,382,515 |
| Online handle | $670,658,206 |
| Retail handle | $7,724,308 |
| Gross gaming revenue | $81,772,049 |
| Statewide hold | 12.30% |
| State tax | $16,312,178 |
A note on the math: Massachusetts taxes online sports wagering at 20% of taxable gaming revenue and retail at 15%. The breakdown is roughly $16.19M from online operators and $0.13M from retail venues.
The Operator Field
| Operator | Handle | Revenue | Hold | Handle Share | State Tax |
|---|---|---|---|---|---|
| DraftKings | $335.1M | $43.96M | 13.12% | 50.0% | $8.63M |
| FanDuel | $167.7M | $22.48M | 13.40% | 25.0% | $4.41M |
| Fanatics | $70.8M | $6.63M | 9.37% | 10.6% | $1.29M |
| BetMGM | $50.0M | $5.62M | 11.24% | 7.5% | $1.10M |
| Caesars | $24.0M | $1.40M | 5.84% | 3.6% | $0.27M |
| theScore Bet | $18.4M | $1.98M | 10.77% | 2.7% | $0.39M |
| Bally Bet | $4.6M | $0.49M | 10.55% | 0.7% | $0.10M |
| Online total | $670.7M | $82.56M | 12.31% | 100% |
Source: RG.org
- Aaron Goldstein, Gambling911.com
