Legal sports betting operators increased in the Old Line State, and so did wagering amounts.
Maryland Lottery and Gaming announced Monday an August handle of $263.7 million from its now 12 online and 12 retail sportsbooks combined.
Maryland added Canton Gaming, with online operator betParx, and Whitman Gaming, which partners with FanDuel, in late August with controlled demonstrations. Both launched fully in early September.
They didn’t make a huge mark in the overall handle, but with football beginning, wagers rose 6% from July and put the Old Line State over $500 million in handle in the first two months of this fiscal year.
Maryland operators combined to rake in $24.9 million in gross revenue, which was down 12% from July, for a hold of 9.4%.
It was a better run for bettors, who ended Maryland’s double-digit hold streak in all 13 consecutive months of sports betting.
Old Line State sportsbooks handed out a combined $8.1 million in promotional plays, up $2.5 million from July, to record a taxable revenue of $17 million.
With 15% going to the Blueprint for Maryland Future Fund, the state racked up nearly $2.6 million in taxes after other deductions, down from July’s $3.3 million.
Online sports betting made up 95% of the total handle and accounted for all but $474,342 in revenue for August.
FanDuel’s numbers rise
Online sports betting site FanDuel helped the sports betting resurgence numbers in August with a handle of $104.2 million, up from July’s $99.6 million. The online sportsbook not only paced the Old Line State in wager amount, but it also claimed $12.6 million in gross revenue, up 14% month-over-month, to produce a healthy 12.1% hold.
DraftKings was second in Maryland with an August handle of $92 million and revenue of $7 million.
BetMGM came in third with a handle of $20.2 million and enjoyed a hold of 10.4%. Caesars wasn’t so lucky as it recorded a 5.3% hold on a handle of $14.1 million.
Newcomer SuperBook recorded the highest hold in the state at 25.2% on a handle of $441,336 while Maryland Sub Stadium won 14.5% on a handle of $6.7 million.
Two retail sportsbooks lose in August
MGM National Harbor rode the biggest roller coaster ride. After recording a 19.6% win rate in July, the retail sportsbook lost $170,000 in August, reporting a hold of -2.9% on a state-best handle of $5.9 million.
Brick-and-mortar sportsbook at Live! Casino brought in $2.8 million in wagers and led Maryland with revenue of $372,000 while Horshoe Casino recorded a handle of $1.3 million but ended up in the red like MGM National Harbor.
