Maryland’s gaming market reported strong results in May despite a slow sports calendar as the NBA dwindles.
According to data provided by Maryland Lottery and Gaming, the Old Line State posted a $431.5 million total sports betting handle in May, a 34.8% increase year-over-year. Maryland operators combined for an 11.8% hold during the month with winnings played to players closing at $380.4 million. Parlays spearheaded the results with state players dishing out $140.9 million on the bets with total payouts at $104.6 million for a 25.7% hold.
Maryland sportsbooks, which contribute 15% of their taxable wins, generated $6.9 million in contributions to the state last month, up from $4.6 million in May 2023. The state finished the month with a total taxable win of $46.6 million for online and retail wagering.
Its promotional play closed at $3.2 million in May, marking Maryland’s lowest figure ever.
FanDuel top sportsbook in Maryland
The Flutter Entertainment-owned brand reported a $195 million mobile handle in May with taxable wins closing at $27.2 million. By comparison, FanDuel posted a $146.3 million handle in May 2023, which generated $18 million in taxable wins.
DraftKings continued its rivalry with FanDuel in Maryland with the sportsbook finishing second in mobile handle in May at $137.3 million and $12.2 million in taxable wins.
Since 2022, DraftKings has collected more than $250 million in taxable wins.
BetMGM rounded out the top three behind a $31 million mobile handle in May, which generated $2.9 million in taxable wins. In May 2023, the operator reported a $27.4 million handle and $1.9 million in taxable wins. Last month, BetMGM reported $0 in promo play.
ESPN Bet reported considerable growth following its rebrand from Barstool Sportsbook in November 2023. Last month, ESPN Bet posted a $16.8 million mobile handle in May compared to $6 million for the same month in 2023. ESPN generated $1.3 million in taxable wins last month. By comparison, wins in May 2023 closed at $477,489.
ESPN Bet failed to report any amount of promo play for the fourth consecutive month.
Maryland approves new operator
Micro-betting brand Betr has received initial approval for a sports betting license from the Maryland Lottery. The operator, founded by boxer and social media star Jake Paul and Simplebet’s Joey Levy, can officially launch in the Old Line State once granted further approval from the Maryland Sports Wagering Application Review Commission.
Betr is live in Virginia and Ohio with plans to expand to Pennsylvania and Indiana.
