Maryland sportsbooks paid $3.2 million in taxes, with sports betting contributing $37.2 million to the Blueprint for Maryland’s Future Fund since December 2021.
FanDuel Top Mobile Operator in Maryland
The NYC-based sportsbook and daily fantasy sports provider topped the state’s 12 mobile operators, accepting $175,005,166.63 in online wagers. That generated $11 million in revenue, and FanDuel Maryland reported an 11.4% hold rate for the month.
FanDuel also generated the most revenue for September, with reported earnings of $11,087,281.54. Boston-based DraftKings Sportsbook was the only other mobile sportsbook to report over $1 million in September revenue.
MGM National Harbor Takes Retail Handle Honors
MGM National Harbor wrestled away the September top spot from Live! Casino, reporting $6.8 million wagered by Maryland sports bettors during September.
That figure slightly outpaced Live! Casino and we also witnessed strong showings this month by Bingo World Casino, Oceans Down Casino, and Hollywood Casino as the only brick-and-mortar betting shops to handle at least $1 million in wagers.
NFL Football Leads the Way
Maryland sports bettors seem to be happy with the return of the NFL season and placed $75.9 million worth of wagers on National Football League contests. NFL betting in Maryland represented 17% of the monthly wagers, with the bookies reporting a reasonable 4.3% hold rate.
The top five in terms of sports wagered and their hold % are represented in the table below.
|
Sport |
Handle (Millions) |
% of the Handle |
Hold Rate |
|---|---|---|---|
|
Pro Football |
$75.9 |
17% |
4.3% |
|
Pro Baseball |
$59.7 |
13.5% |
2.0% |
|
College Football |
$57.1 |
12.9% |
4.5% |
|
Tennis |
$31.7 |
7.2% |
7.1% |
|
Pro Basketball |
$15.7 |
3.6% |
4.4% |
Parlays and Promotions
The 13 retail and 12 mobile sportsbooks operating in the state would be financially hurting if it weren’t for parlays.
Parlays accounted for 34% of their business during September, and Maryland sports bettors wagered $150.3 million on parlays, teasers, and same parlays. The bookies reported a whopping 21% hold rate and mostly why Old Line State bookmakers promote parlay cards and other gimmicks as much as they do.
What Does this mean for Maryland Sports Bettors?
It means Maryland sports bettors should probably ease up on the parlay cards. As you’ve already witnessed, the bookmakers make a killing on these cards. Your job is to beat the bookie, and parlay cards, teasers, and other gimmicks aren’t usually the way to go about this.
FanDuel and DraftKings are the Old Line State’s top two mobile betting destinations. No other bookmaker is remotely close to generating as much revenue as the two aforementioned sportsbook companies.
Football is clearly the sports bettors market of choice, but baseball surprisingly beat out college football.
Finally, the state’s hold rate of 10% was below Maryland’s historical average of 12.9%. That means Maryland bettors are wising up and beating the bookies more often than the monthly average.
