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Sportsbook

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.

Categoría:Sportsbook

Tags: Sports Betting, Sportsbook ,

País: United States

Región: North America

Event

SBC SUMMIT RIO 2024

05 de March 2024

Andre Gelfi explains the new regulation in the Brazilian gaming and betting market

(Rio de Janeiro, SoloAzar Exclusive).- The Managing Partner of Betsson group in Brazil, Andre Gelfi, was another key figure present at the inaugural SBC Summit Rio. In this exclusive interview with SoloAzar, he shared insights about the gaming and betting market in Brazil. Gelfi emphasized the hot topic of Brazilian regulations for the iGaming industry. In fact, he expressed his anticipation that the regulation, expected to be approved this year, will create a new landscape in the Brazilian market

Wednesday 27 Mar 2024 / 12:00

Influencers: "Between Effectiveness and Responsibility in the Gaming Industry".

(Rio de Janeiro, SoloAzar Exclusive) - As part of the Conference "Influencers: The Next Frontier of Social Media Marketing", as part of the Conference Agenda held on 6 and 7 March at the SBC Summit Rio 2024, leading industry personalities gathered in a panel to discuss the impact of the power of celebrities and influencers in generating engagement, as well as the proposed law that seeks to restrict their promotion of gambling.

Wednesday 27 Mar 2024 / 12:00

Pay4Fun: “We have ambitious expansion plans in the Brazilian market”

(Rio de Janeiro, SoloAzar Exclusive).- Leonardo Baptista, CEO and co-founder of Pay4Fun, is a key figure in the world of iGaming. His company, Pay4Fun, is a leading Brazilian online payment provider specializing in the iGaming market. During the first edition of the SBC Summit Rio, Baptista spoke exclusively with Soloazar, sharing insights about the new services that Pay4Fun will introduce to the market. He also discussed his vision for the future of iGaming in Brazil and Latin America. Another unmissable note by SoloAzar.

Wednesday 27 Mar 2024 / 12:00

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