• About Us / Contact
  • Responsible Gambling
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • 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
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • 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 Posts Sports Betting Handle Of $32.5M In January

Retail operators win big again as handle nearly doubles in first full month of operations

Chris Altruda by Chris Altruda
February 10, 2022
in Industry
Maryland January 2022 revenue

Shutterstock

Share on FacebookShare on Twitter

Maryland Lottery and Gaming reported $32.5 million in sports betting handle for January in the state’s first full month of retail wagering, according to figures released Thursday.

The handle was nearly double the $16.5 million in wagers from December, when the five retail sportsbooks across the state opened their doors in staggered fashion. The quintet followed up a strong debut with a second straight double-digit hold at 13.5%, claiming close to $4.4 million in gross gaming revenue and $4.3 million in adjusted gross revenue..

While deductions more than doubled from December to more than $80,000, the state was still able to collect $644,098 in tax receipts that are earmarked for the Blueprint for Maryland’s Future Fund supporting public education. Maryland taxes the sportsbooks’ adjusted revenue at 15%.

In the first month-plus of wagering, Maryland bettors have generated slightly more than $49 million handle, with operators claiming more than $7.4 million for a healthy 15.4% win rate.

Live! is tops in handle, MGM in revenue

Live! Casino, which has FanDuel as its operator, again claimed the No. 1 spot for handle, which more than doubled from $7.1 million in December to $14.3 million. It was the only one of the five books that failed to notch a 10% hold, however, falling just short at 9.94% while clearing more than $1.4 million in gross gaming revenue.

MGM National Harbor was the only other venue to reach an eight-figure handle with $10.6 million, and its 16.4% hold resulted in the current all-time state high of more than $1.6 million in gross revenue. Caesars was a comfortable third in both handle and revenue, with $4.7 million and nearly $840,000 respectively, and had the highest hold at 17.82%.

TwinSpires, which operates out of Ocean Downs, was right behind Caesars (Horseshoe in Baltimore) with a 17.8% win rate and finished fourth in gross revenue at just over $250,000 from slightly more than $1.4 million wagered. Barstool Sportsbook, based at Hollywood Casino in Perryville, rounded out the group in revenue with $210,124 while edging out TwinSpires for fourth in handle with more than $1.5 million in wagers.

It appears the December launch intrigued plenty of bettors for this weekend’s Super Bowl, as Maryland Lottery and Gaming noted the current win rate for settled wagers since launch is 10.6%, compared to the 15.4% against traditional handle. The state agency, however, does not break out wagers by sport.

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 caltruda@bettercollective.com

Related Posts

springfield thunderbirds betmgm opening
Industry

What’s Next For BetMGM As Entain Nears End Of Commitment To U.S. Joint Venture?

February 3, 2023
dorian-finney-smith-shooting-layup
Industry

NBA Tells Operators To Stop Saying ‘Risk-Free Bet’ In Advertising

February 3, 2023
Load More

Top Stories

fanduel-retail-sportsbook-front

Requiem For The So-Called ‘Risk-Free Bet’

February 2, 2023
garnett mgm springfield

Sports Betting Launches In Massachusetts, Giving Three Retail Books A Head Start

January 31, 2023
fanatics-grand-opening

Fanatics Sportsbook At FedEx Field Offers Unique Retail Option In Maryland

January 23, 2023
Shutterstock

Missouri Legislators Lament Exodus Of Bettors To Neighboring States

January 27, 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 – Where To Play, Bonus Offers And Promo Codes

by Brian Pempus
February 2, 2023

Downtown Detroit at twilight (Shutterstock)

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

by Brett Smiley
February 3, 2023

VA captial

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

by Brett Smiley
January 17, 2023

nj flag

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

by Brett Smiley
October 20, 2022

pa online sportsbooks

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

by Brett Smiley
October 6, 2022

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

gambling therapy
ncpg
igaming ontario
If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) (IL). Gambling problem? Call 1-800-GAMBLER (MI/NJ/OH/PA/WV), 1-800-9-WITH-IT (IN), 1-800-522-4700 (CO), 1-800-BETS OFF (IA), 1-888-532-3500 (VA) or call/text TN REDLINE 1-800-889-9789 (TN).
19+. Please play responsibly. Terms and conditions apply. 
Individuals must be 19 years of age or older to participate in igaming in Ontario. Gambling can be addictive, please play responsibly. If you, or someone you know, has a gambling problem in Ontario and wants help, please visit ConnexOntario or call their helpline at 1-866-531-2600. Operators on this website operate pursuant to an Operating Agreement with iGaming Ontario.

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
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • 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

loading

Please wait while you are redirected to the right page...

Please share your location to continue.

Check our help guide for more info.

share your location