Maryland sports betting handle reaches $431.5m in May

The figure was up 34.8 per cent year-on-year.

US.- Maryland’s 13 retail and 12 mobile sportsbooks generated a handle of $431.5m in May, according to figures released by the Maryland Lottery and Gaming Control Agency (MLGCA). The figure was up 34.8 per cent compared to the same month in 2023, but 11.3 per cent behind April this year. Some $413.5m was spent online and $12m at retail sportsbooks.

Revenue after deducting prizes, promotional wagers and other amounts stood at $46.6m, 50.3 per cent higher than last year and 22.6 per cent more than April. Some $45.7m came from online betting, with retail contributing $875,290. FanDuel led the market with a handle of $195.2m and revenue of $27.2m, while Draftkings followed with a handle of $137.4m and $12.2m in revenue. 

The Maryland Lottery and Gaming Control Agency (MLGCA) reported that the state was able to collect $7m in tax in May: $6.9m from online and $131,294 retail. Each sportsbook contributes 15 per cent of its taxable win to the Blueprint for Maryland’s Future Fund, which supports public education programs.

For the year to date, the sports betting spend in Maryland stands at $4.46bn, up 89.2 per cent year-on-year. Revenue stands at $363.9m, an increase of 143.4 per cent.

Casinos in Maryland

Maryland’s six casinos generated $173.2m in gaming revenue in May, up 2.2 per cent year-over-year and up 6.1 per cent from April’s $163.2m. Live! Casino and Hotel led the market with $65m, up 10.3 per cent from May 2023.

Hollywood Casino reported $7.8m in revenue, up $204,423 year-over-year and MGM National Harbor registered $72.3m, up $551.000. Horseshoe Casino reported $14.7m in May, down 15.9 per cent, Rocky Gap Casino $4.97m, down $258.000 and Ocean Downs Casino $8.35m, down $50.000.