Maryland retail sports betting handle climbs to $31.4m in September

Maryland collected $984,308 in taxes for September.

10/12/22

The sports wagering handle increased 67.9 per cent month-on-month.

US.- Maryland’s seven sportsbooks registered a sports betting handle of $31.4m in September, a 67.9 per cent increase compared to August’s $18.7m. According to the report from the Maryland Lottery and Gaming Control Commission, sportsbooks posted a 17.6 per cent hold for the month.

The win rate just surpassed August’s 17.2 per cent. Maryland collected $984,308 in taxes, most of which go to the Blueprint for Maryland’s Future Fund.

Live! Casino, which operates a FanDuel Sportsbook, reported a $12.7m handle. It was followed by MGM National Harbor (BetMGM) with $8.6m. Horseshoe Casino (Caesars Sportsbook) and Ocean Downs Casino (TwinSpires) reported a $1.5m handle. Hollywood Casino (Barstool Sportsbook) rounded up the top five with $1m.

The two newest sportsbooks in the state, Bingo World and Riverboat on the Potomac, which launched sports betting operations in September, reported just under $18,000 for their first weeks of operation.

Sports betting in Maryland

Maryland’s Sports Wagering Application Review Commission (SWARC) has reported that mobile sports betting will be available sooner than expected. It’s decided to let online sportsbooks start operating as soon as they’re licensed instead of making them wait to launch together.

Operators must submit applications for online sports betting licences by October 21. The SWARC will have 45 days to review them. That means Maryland’s first sports betting apps could be up and running by late November or the first week of December.

Governor Larry Hogan signed a bill to legalise online and retail sports betting in Maryland last year after voters approved sports betting through a November 2020 referendum. Up to 60 mobile sports betting licences will be available.