Fanatics holds 20% in Maryland during June beta testing period

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There is still no full rollout of Fanatics Sportsbook in any state, but the beta launch is drawing attention after a very strong June performance.

Fanatics, through its partnership with the Washington Commanders, rolled out its beta version in Maryland on May 30. In the month of June, the sportsbook took $1.6 million in wagers and generated $329,238 in gross gaming revenue for a hold percentage of 20.6%.

Fanatics did dole out $616,000 in promotional play, so technically it did not make money on the month and paid no taxes to the state.

The hold percentage for Fanatics was the highest of any operator in June but several operators exceeded 10% hold and, on average, online operators held 10.8% on the month.

Across the 10 online operators, bettors placed $243.8 million in bets, generating $26.4 million in GGR. After promotional play and other deductions, that left $18.3 million in adjusted gross revenue. The state received $2.7 million in tax payments.

As it has in every month so far in Maryland, FanDuel once again led the pack with $108.7 million in wagers and $14.5 million in gross gaming revenue. It had the second-highest hold percentage of the month with 13.4%.

DraftKings trailed behind with $89.7 million in handle and $7.8 million in GGR. BetMGM rounded out the top three with $20.8 million in handle and $2.2 million in GGR.

Even though Fanatics is still in beta and not open to the broader public, the sportsbook still outpaced SuperBook and Betfred for June. It trailed behind the brand that is soon to be part of Fanatics, PointsBet, which posted $2.3 million in handle.

Overall, handle was down 20% month-over-month, which is consistent with other states dealing with the slow season of the US sports calendar.

Adding in retail sports betting, the state took a grand total of $254.7 million.