The Maryland Lottery and Gaming Control Agency reported a sports wagering handle of nearly $27 million for April, a drop from the month before but with the state’s five retail sportsbooks again posting healthy win rates.
Gross gaming revenue (GGR) totaled more than $2.8 million, as the 10.6% win rate marked the fourth time in five months of sports wagering that the statewide hold was 10% or better. With slightly more than $65,000 in promotional deductions, the state collected $415,801 in tax receipts for April, lifting the overall total since launch above $2 million.
Month-over-month handle was down 13.3% from March’s $31 million, while gross revenue slid 27.7%. The April win rate was more than 2 full percentage points lower than March’s 12.7% hold. Maryland sportsbooks have accepted close to $116 million in wagers through the first four months of the year and more than $132 million overall.
Handle: $26,908,845 (4)
GGR: $2,838,501 (4)
GGR Win Rate: 10.55% (4)
AGR: $2,772,004 (4)
AGR Win Rate: 10.3% (4)
— Chris Altruda (@AlTruda73) May 11, 2022
All five brick-and-mortar sportsbooks reported declines in both handle and revenue compared to March. Live! Casino & Hotel in Hanover had the most modest decline in handle, at 2%, and Horseshoe Casino in Baltimore had the softest decline in revenue with a 5.4% dip.
Live! continues to be the dominant book in the state, as the FanDuel-powered venue’s $13.3 million handle represented 49.5% of the state’s overall total, and its nearly $1.6 million in gross revenue accounted for 55.6% of all operator winnings.
Both MGM National Harbor and Hollywood Casino had notable plunges in revenue as bettors fared far better than in March. MGM’s revenue dropped 58% to $505,117 as its win rate was pared by 6 full percentage points. Hollywood, which had the biggest dip in handle at 42.2% to $1.2 million, had 65.5% less revenue compared to March. Its hold tumbled more than 4 percentage points to 5.9%.