Maryland online sports betting handle reaches $478.3m in first full month
Maryland online sports betting took in $478.3m in bets in December.
US.- The Maryland mobile sports betting market opened on November 23 and the state’s Lottery and Gaming Control Agency (MLGCA) has now reported figures from the first full month of the activity.
According to the report released by the MLGCA, Maryland online sports betting took in $478.3m in bets in December, while retail sportsbooks accounted for $18.8m. Overall, the total handle for all sports betting in the state was $497.1m.
Online operators gave away $70.9m in promotional play to customers, which must be deducted from the state’s taxable win. As a result, online sports betting accounted for $44,791 in sports betting tax revenue for the state.
Retail sportsbooks accounted for $395,252 in sports betting tax revenue, which resulted in $440,043 in overall sports betting tax revenue for the state in December.
FanDuel Sportsbook registered a total handle of $236.2m in December, while DraftKings Sportsbook followed with $157.8m. BetMGM took in $42.3m in bets, followed by Barstool Sportsbook with $16.3m and Caesars with $15.5m.
PointsBet with $6.7m and BetRivers with $3.2m completed the figures from the seven live operators.
The state is still waiting for launches from Fanatics, Parx Interactive and BetFred. The MLGCA also recently found both Bally Bet and WynnBET to be qualified to hold Maryland online sports betting licences.
Maryland’s Sports Wagering Application Review Commission (SWARC) awarded the two operators with licences at its December 14 meeting, but they still have to go through regulatory testing with the MLGCA before officially being allowed to launch.
Maryland Lottery director, John Martin, said that by the start of the 2023 NFL season, he expects up to 21 online sports betting operators and between 15 to 20 retail operators to be live in the state.
Maryland governor Larry Hogan has estimated that the state could see $30m in revenue in 2023 and almost $100m by 2027.
