Maryland reported substantial year-over-year growth in June for its sports betting market.
According to data provided by Maryland Lottery and Gaming, operators in the Old Line State accepted $333.2 million in mobile and retail wagers in July 2024 compared to $247.4 million for the same month last year. Mobile wagers for the month closed at $324.9 million. Maryland operators paid out $289.5 million to players in July for a 13.1% hold. By comparison, sportsbooks paid out $219.2 million in July 2023 resulting in an 11.4% hold.
Last month, Maryland operators reported $1 million in promotion play, down from $5.6 million in July 2023. Sportsbooks combined for $41.6 million in taxable wins in July 2024 with $6.2 million in contributions to the state. In July 2203, Maryland operators saw taxable wins reach $22 million for the month with $3.2 million in contributions to the state.
FanDuel led all mobile sportsbooks in Maryland with a $145.8 million handle in July compared to $99.5 million for the same month last year. The Live! Casino & Hotel partner paid out $124.3 million to players in July for a 14.7% hold. In July 2023, it had a 13.7% hold.
DraftKings closed July 2024 with the second-highest mobile handle at $106.4 million, up from $92 million for the same month in 2023. The Boston-based operator generated $12 million in taxable wins during the month compared to $6.7 million in July 2023.
Last month, there was a substantial gap between the state’s top two operators and others.
BetMGM finished third in Maryland for mobile handle with the operator accepting $25.5 million in online wagers last month. By comparison, the Entain and MGM Resorts joint venture reported a $22.9 million mobile handle in July 2023. BetMGM paid out $22.3 million to players in July 2024 for a 12.5% hold. Last July, it finished with a 9.7% hold.
Change of plans in Maryland
July 2024 marked the last month for SuperBook’s operations in the Old Line State.
Last month, the operator announced plans to shutter its offerings in eight states to focus on its Nevada business. In July 2024, SuperBook reported a $260,200 mobile handle and a 15.7% hold ranking in the bottom third of Maryland’s licensed sportsbooks. By comparison, SuperBook saw its mobile handle close at $398,628 in July 2023. That month, the operator finished with a 16.9% hold and issued $17,894 in promo play.
July 2024 also represented the first full year of operations in Maryland for Crab Sports.
The sportsbook, which debuted last July, posted a $583,553 mobile handle in July 2024 and $23,922 in promo play. By comparison, Crab Sports saw its mobile handle in July 2023 close at $282,592 million. That same month, it dished out $38,269 in promo play.
Maryland has also provided recent data for Bally Bet, which launched in the Old Line State late last month. In that span, Bally Bet accepted $59,533 in mobile wagers.
The operator paid out $53,344 in winnings to players with promo play at $4,950.
