Maryland is continuing to showcase strong growth as an online sports betting market.
According to data provided by Maryland Lottery and Gaming, licensed operators in the state closed August 2024 with a $368.4 million online handle compared to $250.3 million for the same month last year. State operators paid out $330.2 million in winnings to online players. By comparison, sportsbooks paid players $225.9 million in August 2023.
Maryland, home to 11 mobile sportsbooks in August 2024, reported $1.1 million in online promotion play during the month compared to $8.1 million for the same period last year. In August 2023, Maryland had 12 licensed sportsbooks with operations throughout the state.
Mobile sportsbooks combined for $36 million in taxable wins in August 2024 with $5 million in contributions to the state. In August 2023, the Old Line State saw mobile operators generate $16.3 million in taxable wins with $2.4 million in contributions to the state.
FanDuel leads in Maryland
The gaming giant finished August 2024 with the highest online handle in Maryland at $160.7 million. By comparison, FanDuel accepted $104.1 million in online wagers in August 2023. The Live! Casino partner paid out $142.3 million to players last month for an 11.4% hold. In August 2023, players were paid $91.6 million for a 12.1% hold.
DraftKings was a couple steps behind rival FanDuel in August 2024 with the Boston-based operator closing the month with a $119.2 million online handle. By comparison, DraftKings accepted $91.9 million in online wagers with winnings paid to players at $84.9 million for a 7.7% hold. Last month, it paid $106.7 million to players for a 10.5% hold.
BetMGM failed to close the gap between Maryland’s top two mobile operators and the rest of the pack with the sportsbooks closing August 2024 with a $32.1 million online handle. The Entain and MGM Resorts joint venture reported a $20.2 million online handle in August 2023. It paid out $28.9 million in winnings to players in August 2024 for a 10.2% hold compared to $18.1 million and a 10.4% hold for the same month last year.
Maryland’s old and new operators
August 2024 represented the first full month of operations for Bally Bet Sportsbook.
In July, the operator was issued a mobile sports betting license after successfully completing a controlled demo of its platform. A month later, Bally Bet posted a $1.6 million online handle with winnings paid to players closing at $1.4 million for a 10.6% hold.
August also represented the shuttering of SuperBook Sports’ operations in the Old Line State. The Nevada-based operator announced in July the closing of online operations in eight states. SuperBook didn’t accept online wagers in August 2024 but paid out $6,770 in winnings to players. In August 2023, its handle closed at $441,366 for a 25.2% hold.
