The summer slumps are officially over for Maryland sportsbooks!
September wagering accounted for the second-best handle in state history. In total, the state’s seven sports wagering facilities saw a combined $31.4 million in wagers.
Maryland’s final September without online sports betting
September’s entire sports betting handle came from in-person, retail sports betting in Maryland, as the state has yet to launch online wagering.
Sportsbooks themselves fared better than the players this month, as bettors saw just $24.7 million in winnings.
The monthly hold came out to $6.6 million (21.2%). Of that amount, $6.5 million was taxable by the state at a rate of 15%. Maryland took in $984,308 for the Blueprint for Maryland’s Future fund — over 50% more than any previous single month.
Across its 10-month sports betting history, Maryland sportsbooks have raised more than $4.6 million for the program, which supports public education initiatives across the state.
Football boosts sports betting in September
This is the second month that Maryland has had seven sportsbooks after Bingo World opened BetRivers on Aug. 1 and PointsBet opened on the Riverboat on the Potomac in late September.
August’s numbers did not reflect much change, as $18.6 million in handle represented another down month for the summer. Bingo World drew just $174,000 in wagers during its first month.
September was a different story, though. Football season helped contribute to a 68% increase in handle from August, falling just shy of January’s record $32.5 million in total wagers. January had a smaller hold, though (13.4%). This amounted to a state contribution of only $644,000 to Maryland, whereas September’s contribution was nearly $1 million.
Maryland sports betting handle by month
|Month||Handle||Prizes Paid||Revenue||Hold||State (Tax)|
Live! tops the charts; newcomers slow to market
Live! Casino & Hotel’s FanDuel MD led the state nearly across the board. Its handle ($12.7 million), prizes paid ($9.7 million), taxable winnings ($3 million) and state contribution ($457,000) were all well in front of the pack. In fact, its September taxable winnings and state contributions were more than every casino’s FYTD figures except for BetMGM Maryland at MGM National Harbor.
Unsurprisingly, MGM was second in most categories, with an $8.6 million handle and $3 million in taxable winnings — of which $226,000 went to the state. Caesars Sportsbook MD at Horseshoe Casino Baltimore rounded off the podium, taking $4.9 million in wagers for the month and generating $1.04 million in taxable winnings. Its state contribution was $157,000.
Hollywood Casino Perryville’s Barstool Sportsbook and Ocean Downs Casino’s Twinspires were next, generating handles of $2.5 million and $1.8 million, respectively. Ocean Downs had a 23.8% hold and $424,000 in revenue ($63,000 state contribution), while Hollywood’s 13.7% hold was good for $343,000 in revenue ($51,000 state contribution).
The newest sportsbooks, BetRivers Maryland at Bingo World and PointsBet Riverboat on the Potomac, each took in less than seven figures’ worth of bets. Bingo World’s $708,000 handle had the highest hold in the state (25.1% for $175,000 in revenue and a $26,000 state contribution) outside of Riverboat, whose first month saw just $17,000 in wagers.
Casino sports betting handle in September
|Casino||Handle||Prizes Paid||Hold||Taxable Winnings||State (Tax)|
|MGM National Harbor||$8,639,400.52||$7,106,717.25||17.7%||$1,511,084.77||$226,662.72|
|Live! Casino & Hotel||$12,738,889.50||$9,657,857.86||24.2%||$3,049,602.77||$457,440.41|
|Horseshoe Casino Baltimore||$4,916,390.47||$3,855,234.94||21.6%||$1,048,864.55||$157,329.68|
|Ocean Downs Casino||$1,806,095.79||$1,376,956.49||23.8%||$424,893.32||$63,734.00|
|Hollywood Casino Perryville||$2,548,876.16||$2,199,033.66||13.7%||$343,499.72||$51,524.96|
|Riverboat on the Potomac||$17,807.55||$9,520.55||46.5%||$8,242.48||$1,236.37|
Maryland sports betting numbers likely to rise
Maryland’s September sports betting revenue sheds a promising light on the remainder of the year.
If nationwide trends apply, Maryland sportsbooks could very well set a new record for handle in October. Regardless of the numbers October generates, they’ll surely pale in comparison to when mobile sports betting goes live in the state.
There is still no official timeline for when this will happen. But Maryland regulators are hoping to be into the betting action by the Super Bowl in February. This would pave the way for massive March Madness wagering, too.
No matter the outcome, full-fledged wagering will be available well before next fall, making this Maryland’s last September without online sports betting.