Maryland’s online sports betting market has undergone “record-setting enthusiasm” following its launch last week, according to data from GeoComply.
The geolocation and fraud specialist has stated that 16.5m geolocation transactions took place in the Old Line State during the Thanksgiving Holiday season (November 23-27), with 3.7m transactions taking place on Thanksgiving Day.
In total, seven operators were taking online bets during the measuring period and 477,365 unique accounts were active.
GeoComply adds that betting action surged throughout the weekend with the local NFL teams of the Washington Commanders and Baltimore Ravens in action, alongside college football, NBA, college basketball, and FIFA World Cup games taking place.
As part of its operations, Maryland sportsbooks will be subjected to a 15% tax rate of all revenues, which will be given to Blueprint for Maryland’s Future Fund, a 10-year early childhood, and primary and secondary education funding and expansion plan.
“A strong start for the regulated market delivers on the promise of new revenues and consumer protections,” commented GeoComply SVP Compliance Lindsay Slader.
“Marylanders will continue to ditch illegal offshore sportsbooks for the security of legal, regulated operators that provide player safeguards and tax dollars for the state, just as lawmakers intended.”
In comparison to other states, Maryland’s launch was double that of Virginia, and four times greater than similarly-sized Colorado.
The state’s 16.5m Thanksgiving transactions were greater than that of Indiana and Tennessee, and not too far away from New Jersey’s 17.1m, a state that has a far bigger population.
GeoComply has a tier-one contractor license for Maryland, permitting it to supply geolocation, ID verification, and fraud detection and prevention services to operators in the Old Line State.