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Maryland sportsbooks report February handle of USD 340 M

Monday 13 de March 2023 / 12:00

2 minutos de lectura

(Maryland).- Sports wagering in Maryland brought the state $2.8 million in tax revenue in February, according to data released Friday by the Maryland Lottery. Mobile sports betting — there are 10 retail sportsbooks and eight mobile sportsbooks operational in Maryland — accounted for 96.5% of the tax revenue delivered to state coffers.

Maryland sportsbooks report February handle of USD 340 M

Just under $340 million was wagered on sports in Maryland in February, and the hold reported by sportsbooks across the state was 11.8% for the month. The handle was likely boosted significantly by the Super Bowl. This was the first year Marylanders had access to legal mobile sportsbooks on Super Bowl Sunday.

Still, Marylanders wagered more money on sports in December ($497.1 million) and January ($441.5 million) than in February. Promotional wagers accounted for $15.8 million worth of sports bets in the state in February. Promotional bets are tax deductible for sports betting operators during their first fiscal year of operation in the state.

Mobile sports betting accounted for 95.6% of sports wagering handle in February. Barstool Sportsbook, Betfred, BetMGM, BetRivers, Caesars Sportsbook, DraftKings, FanDuel, and PointsBet are live in Maryland. Other mobile sportsbooks, including Fanatics Sportsbook and WynnBET, are expected to start soon. 

FanDuel, DraftKings pace mobile sportsbooks

FanDuel paced all Maryland mobile sportsbooks with a February handle of $157.7 million. DraftKings was second, recording a handle of $100.5 million. FanDuel had a February hold of 14.7%, well above DraftKings’ 10.9%. 

No other mobile sportsbook recorded a handle of more than $50 million. BetMGM reported $33.2 million wagered on its mobile platform, and Caesars Sportsbook reported a handle of $16 million. Betfred, which launched its mobile platform on Feb. 9, reported a handle of $406,018 and a hold of 12.7% in its first few weeks of operation in the state.

FanDuel and DraftKings have dominated mobile handle in Maryland. FanDuel has received $692.7 million worth of wagers in the fiscal year, while bettors have wagered $459.9 million on DraftKings’ mobile platform.

MGM National Harbor popular

In retail betting, customers wagered just under $5.6 million at MGM National Harbor in February, the highest handle of any sportsbook. The location reported a hold of just 2.3% for the month, though. That snaps a streak of seven consecutive months with a hold of at least 10% for MGM National Harbor’s retail sports betting operation.

Live! Casino ($3.4 million), Horseshoe Casino ($2.2 million), and Ocean Downs Casino ($1.1 million) were the only other Maryland retail sportsbooks with a handle north of $1 million in February. 

Sports bettors cleaned up at the Fanatics Sportsbook at FedEx Field, as the location reported a handle of just over $650,000 while paying out winnings of just over $800,000. It was the only retail sportsbook in the state that failed to post a positive hold for the month.


Tags: Sports Betting, Sportsbook ,

País: United States

Región: North America


ICE London 2024

06 de February 2024

“At ICE London, in addition to the V- Line, we showcased a range of other exciting products designed to revolutionize the gaming experience”, Tjasa Luin, Alfastreet

(London, SoloAzar Exclusive).- Tjasa Luin, CEO at Alfastreet, granted an interview to SoloAzar to talk about the company's recent participation at ICE in London, where they showcased their new V-Line, launching the new V10 alongside with the V-8. She also told us about the firm's work strategy for this year and for ICE Barcelona 2025: to continue innovating in technology in their product line to keep providing the best user experience.

Thursday 29 Feb 2024 / 12:00

GLI presented its full compliance services at one of the world's largest gaming events: ICE London 2024

(London, SoloAzar Exclusive).- ICE London recently concluded its last edition in London Excel. James Illingworth, Vice President of Sales EMEA at GLI Europe, took the opportunity to talk with SoloAzar about the firm’s aim, the future of technology, AI, and the full regulatory compliance services to help attendes, customers, and potential customers from all over the world.

Wednesday 28 Feb 2024 / 12:00

Alfastreet celebrates a successful showcase at ICE London 2024

(Sezana).- Alfastreet, a global leader in producing high-quality gaming terminals, is thrilled to announce its success at the recent ICE 2024 in London. The event was a major showcase, bringing together industry leaders for detailed discussions on the latest legal and development trends. It provided the perfect platform for Alfastreet to introduce its newest innovations and reinforce its presence in the global market.

Wednesday 28 Feb 2024 / 12:00


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