In December, Maryland saw a record amount of sports betting, with players spending a total of $559.9m. This marked the second consecutive month of setting a new record, with November’s total coming in at $550.7m. The majority of these bets, about 96.7%, were placed online, amounting to $541.7m. The remaining $6.2m was spent by players betting at retail sportsbooks across the state.

The revenue from these bets was also significant, with taxable win in the state totaling $62.3m in December. This was an increase of 49.8% from November. However, it was still lower than the $85.2m in revenue generated in December 2022. Mobile betting contributed $60.1m to this total, while retail sportsbooks brought in $2.3m.

After accounting for promotional wagers, the monthly revenue stood at $43.2m. This was more than double November’s revenue and a 1,389.7% increase from the previous year. The sports wagering tax for the month amounted to $6.5m, with the majority of it coming from online activity.

Looking at individual operators, DraftKings led the online market with $10.0m in taxable win from $167.1m in total bets. BetMGM and Caesars followed in second and third place, respectively. In retail betting, Live! Casino Hotel and FanDuel took the top spot, with MGM National Harbor and BetMGM coming in second, and Oceans Downs Casino and TwinSpires in third.

In the six months leading up to December, the total spend on sports betting in Maryland was $2.55bn. Taxable win for this period amounted to $164.0m, with tax payments totaling $24.6m.

Overall, the sports betting industry in Maryland continues to see growth and success, with both online and retail operators contributing to the record-breaking numbers.

By admin