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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


CGS Bahamas 2023

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Successful edition of CGS Bahamas and promising prospects for CGS Chile

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Friday 19 May 2023 / 12:00

Successful presentation of Land Vegas at CGS Bahamas

(Nassau, SoloAzar Exclusive).- David Fica Jaque, Founder and CEO of Land Vegas, presented in CGS Bahamas a preview of what will be Land Vegas, a Metaverse focused on entertainment and games, with sports betting and casino games. Exclusively with SoloAzar, he talked about his experience at the trade show and his plans for this year.

Monday 15 May 2023 / 12:00

Avigilon presented video surveillance at the CGS Bahamas Event

(Bahamas, SoloAzar Exclusive).- SoloAzar interviewed exclusively the regional sales director for Central America and the Caribbean of Avigilon, Norberto Torres, during the Caribbean Gaming Show (CGS) held on May 3rd and 4th in the Bahamas. In this article he tells us about the work they are doing, and the importance of being present in this event, as well as the firm´s plans for the future.

Tuesday 16 May 2023 / 12:00


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