Maryland and Kansas became the latest two states to reveal their sports betting wagering figures for January this week.
Sports wagering generates record money for the state
Maryland Lottery and Gaming announced that sports betting generated $8.2 million for the state in January.
Fuelled by the Baltimore Ravens’ run to the AFC championship game, the state’s 13 retail and 12 online sportsbooks handled $545 million in wagers during the month, $527.8 million of which was through online sportsbooks and just $17.2 million through retail sportsbooks.
Operators had a hold of 14.7% which meant they generated revenue of $80 million.
In Maryland, each sportsbook contributes 15% of its taxable win to the Blueprint for Maryland’s Future Fund, which supports public education programs. This month’s contribution of $8.2 million beat the previous record of $6.5 million generated in December 2022.
“The calendar is always the driving force in sports wagering, and the football playoffs in January reliably produce strong numbers,” said Maryland Lottery and Gaming Director John Martin. “The AFC Championship game didn’t go the way Ravens fans were hoping or expecting, which may have contributed to the results we saw.”
Figures from January 2024 far exceed those of the previous year which saw a handle of $441.5 million and a total taxable win of $14.1 million.
Kansas state drop off from December high
Meanwhile in Kansas, $239 million was handled by the state’s operators which is an increase of 16.3% year-on-year but down 7.7% from the $259 million reported last month. Online betting accounted for $228.6 million of all bets placed during the month and just $11.5 million in wagers were reported at retail sportsbooks.
Similarly, revenue of $15 million is up by 138% compared to just $6 million in January 2023 but is down on the record $20.1 million revenue posted in December 2023. Revenue from online sports betting in January was $14.3m while retail’s revenue share for the month reached $668,086.
Kansas Star and its partner FanDuel took top in the online market in January with revenue for the pair hitting $6.1m. Despite a larger handle than Kansas Star and FanDuel, $96.7 million compared to $77.3 million, Boot Hill Casino and DraftKings dropped to second spot with revenue of $5.9 million.
Hollywood Casino at Kansas Speedway, who is partnered with ESPN Bet, led the way in retail with a revenue of $422,845.
Wagering in Kansas has generated $7.7 million during this fiscal year to date.
Earlier today New Jersey released its own data which revealed a monthly record for sports betting handle and revenue in the state.
