Maryland Witnesses Sharp Monthly Increase in Sports Betting

Sportsbook operators in Maryland experienced improved performance in September versus the previous month, with Americans returning to retail betting venues with gusto after a spell of reduced sporting activity. The return of the NFL served to boost figures considerably, with the total value of bets placed surging to $31.4m – a 68% increase on August month.

The Old-Line State’s seven sports betting enterprises recorded a hold of 17.6% in the 30 days of September, a marginal 0.4% monthly uplift. The figures, which were compiled by the Maryland Lottery and Gaming Commission, the organization with regulatory power over the state’s native gambling sector, also referred to a significant taxation payment received by local government, with a levy on sports wagering revenue amounting to 948k. The lion share of these proceeds will be allocated to the ‘Blueprint for Maryland’s Future Fund’.

In terms of individual sportsbook results, FanDuel’s kiosk at Live! Casino in Hanover topped the state charts with $12.7m in handle, with MGM National Harbour approximately $4m short of this number in second. Two new sports betting outfits entered the fray last month, with Bingo World and Riverboat on Potomac now in operation. In a tentative start to trade, the two latest incumbents of a Maryland licence notched a cumulative total of $18k in placed bets.

After a protracted preparation period, Maryland is now positioned to receive applications for its legalized mobile sports betting marketplace, with a deadline of 21^st October set for prospective suitors.

The state’s Sports Wagering Application Review Commission (SWARC) have allocated a 45-day timeframe to review submissions, which means digital sportsbooks could be live as early as November. Furthermore, the organized, who initially was subject to intense criticism for its sluggish approach to setting-up its tendering process, has now stated that licences will be issued immediately upon sports wagering platforms being successfully screened, as opposed to waiting for a grand launch of all qualified participants.