Maryland sportsbooks generated $3.2 million in revenue in August, according to the latest figures from the Maryland Lottery and Gaming Control Agency (MLGCA). This is the State’s highest revenue in the last five months and an increase of 20% compared to July. The 18.7 million sports betting handle during August was also a bounce-back performance from the Old Line State.
Maryland Sports Betting Figures
Maryland’ Five casinos and two other regulated sports betting locations have reported the best performance in the last five months as the handle increased by 20% while the sports betting revenue had a 57% boost.
Moreover, Maryland sportsbooks have been retaining great amounts as the hold rate is above 10% in the last 6 months, including August’s 17.10% which is the second highest hold rate in the State’s legalized sports wagering history.
The only month ahead in terms of hold rate was the January 2022 performance which resulted in a 19.2% hold rate – the first month of sports betting in the state.
Here’s a quick summary of sports betting statistics in Maryland for the last five months (in million $):
Sports Betting Contribution
Maryland’s retail sports betting sites also contributed to the state. Even though it is not as substantial as the performance of top states when mobile wagering is available, the seven retail sportsbooks still contribute $477,000 to the Old Line state.
New Retail Sportsbooks Launch
Moreover, a couple of retail sportsbooks have already opened this month. Baltimore’s Bingo World opened at the beginning of August while the Riverboat sportsbook at Potomac opened last August 8 which is under two controlled demonstrations