• About Us / Contact
  • Responsible Gambling
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Vermont
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Vermont
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
No Result
View All Result

Maryland Sportsbooks Extend Roll Against Public In August

State's 'Magnificent 7' combine for their seventh double-digit hold in nine months

Chris Altruda by Chris Altruda
September 12, 2022
in Industry
Maryland August 2022 revenue report

Photo: Shutterstock

Share on FacebookShare on Twitter

Maryland‘s sportsbooks once again pounded the betting public in August, posting their second-highest win rate in nine months of action, according to figures released Monday by the state’s lottery and gaming agency.

The 17.3% win rate trails only the 19.2% operators generated in the initial month of activity last December. It is the seventh time in nine months the statewide hold has surpassed 10%, and August’s win rate is more than double the sports betting industry standard of 7%.

Operators reported $3.2 million in gross revenue, an increase of nearly 60% from July and the third-best month since launch. The hold was more than four full percentage points higher compared to the previous month, while handle also climbed 20.4% to $18.7 million. Though retail numbers will likely climb again in September, the state’s slow-moving process to launch mobile wagering will leave some wondering what might have been.

The state did collect $480,000 in taxes, lifting the total to $3.2 million for the calendar year. All-time handle also surpassed $200 million, with the year-to-date total just shy of $192.4 million.

Live! first operator to reach $10M revenue

August #SportsBetting numbers for #Maryland via @MDLottery, a 🧡. Han/GGR/WR by venue (1/2)@MGMNatlHarbor $5.53M/$1.03M/18.67%@LiveCasinoMD $7.22M/$1.22M/16.87%@HorseshoeBmore $3.52M/$483.7K/13.74%@OceanDowns $1.12M/$209.7K/18.7%

2/x #GamblingTwitter

— Chris Altruda (@AlTruda73) September 12, 2022

Live! Casino & Hotel Maryland became the first operator in the Old Line State to reach $10 million in gross revenue after claiming $1.2 million in August from $7.2 million wagered. The 16.9% hold for the Fan Duel-powered book was its second-best since launch and marked the fifth time it was above 12%. Live! is also $7.1 million away from being the first book in Maryland to generate $100M handle.

MGM National Harbor was the only other location to surpass $1 million in gross revenue, doing so for the first time since March thanks to an 18.7% hold on $5.5 million handle. It was the first time the Baltimore venue posted back-to-back double-digit win rates since its first two months of action.

Sign Up For The Sports Handle Newsletter!
I also want to receive information and offers about online sportsbooks (eg. odds boost, welcome offers)

Horseshoe Baltimore had the lowest win rate of the seven brick-and-mortar locations, though it was still a robust 13.7%. It also cleared $30 million in year-to-date and overall handle, accepting $3.5 million in wagers while claiming $485,000 in gross revenue.

Ocean Downs continued to be the only sportsbook to have a perfect record when it comes to generating a double-digit hold, making it 9-for-9 with an 18.7% win rate for August. The venue had its best month revenue-wise since January, clearing $200,000 for the second time while generating $1.1 million in handle.

Riverboat on the Potomac became the seventh sportsbook to launch at the end of August, with the PointsBet-powered venue running the table on $1,139 worth of wagers. And in its first full month of activity, Bingo World posted a healthy 37.9% win rate, as the BetRivers sportsbook reported $65,000 in gross revenue from $173,000 wagered.

ShareTweetShare
Chris Altruda

Chris Altruda

Chris Altruda has been a sportswriter with ESPN, The Associated Press, and STATS over more than two decades. He recently expanded into covering sports betting and gambling around the Midwest. His Twitter handle is @AlTruda73 and can be reached via email at [email protected]

Related Posts

josh naylor
Industry

April Brings Newcomer Ohio Its Lowest Betting Activity Thus Far

May 31, 2023
whats on tap
Industry

What’s On Tap: NBA Finals, Stanley Cup Finals, And French Open Early Rounds

May 29, 2023
Load More

Top Stories

paspa ruling

From PASPA To Present: An Oral History Of The U.S. Sports Betting Gold Rush

May 11, 2023
inside-fanatics-sportsbook-fedex-field

Sources: Fanatics Enters Advanced Talks With PointsBet On Transformative U.S. Deal

May 12, 2023
new york times headquarters

The ‘Risky Wager’ Series From New York Times Was No Hit Piece β€” It’s Reality

May 31, 2023
cincinnati-bearcats-signage

Failing To Report Wagering Violations A No-No, NCAA Says

May 25, 2023

State Sports Betting Guides

Ohio (U.S. state) flag waving against clear blue sky, close up, isolated with clipping path mask alpha channel transparency, perfect for film, news, composition

Ohio Sports Betting – All Online Sportsbooks, Bonus Offers, and News 2023

by Brian Pempus
May 16, 2023

Downtown Detroit at twilight (Shutterstock)

Michigan Sports Betting – Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
May 2, 2023

VA captial

Virginia Sports Betting – Where To Play, Online Sportsbooks And Bonus Offers

by Brett Smiley
April 24, 2023

nj flag

New Jersey Sports Betting — Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
March 22, 2023

pa online sportsbooks

Pennsylvania Sports Betting – Where To Play, Online Sportsbooks And Bonuses

by Brett Smiley
May 3, 2023

Canada Sports Betting Guides

Canada Sports Betting – Best Sportsbook Apps & Bonus Offers

British Columbia Sports Betting – Legal Update, Available Sportsbooks, and FAQ

Ontario Sports Betting – Legal Status And Where To Play

SportsHandle

  • Analysis
  • Casino
  • Features
  • Horse Racing
  • Industry
  • Legal
  • Legislation
  • Lottery
  • Opinion
  • Podcasts
  • Poker
  • Politics
  • Promotions
  • Regulation
  • Sports
  • Uncategorized

Better Collective

This website is owned and operated by Better Collective USA. Trademarks and copyrights referenced on this website are and shall remain the exclusive property of their respective owners and/or licensors. Please be sure to visit the operator’s website(s) to review their terms & conditions. We advise you to read these carefully as they contain important information. Copyright Β© 2023 USBets.com | Better Collective USA
21 Play Responsibly
Gamble Aware West Virginia
Gambling Problem? Call 1-800-Gambler.
GameSense

Search Sports Handle

No Result
View All Result
  • About Us / Contact
  • Responsible Gambling

No Result
View All Result
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Vermont
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News