Maryland has added another sportsbook to its portfolio of legal sports betting operators.
On Thursday, the Maryland Lottery and Gaming Control Commission granted an online sports betting license to SuperBook — one of the largest sports betting brands in America. SuperBook was awarded a license after completing a controlled demonstration of its platform on April 11.
The demonstration, which included live wagering, ensured SuperBook’s viability as an operator.
SuperBook has emerged as one of nine online sports betting sites to operate in Maryland. The Old Line State has granted market access to other major sportsbooks in the U.S., including DraftKings, BetMGM, FanDuel, Barstool Sportsbook, PointsBet, Caesars Sportsbook, and others.
SuperBook receiving an online wagering license in Maryland sports betting adds to the company’s growing list of markets. SuperBook operates in seven other states, including Arizona, Colorado, Iowa, Nevada, Ohio, New Jersey, and Tennessee. The company is also expanding its reach to sports fans with the SuperBook Sports Lounge at Camden Yards — home of the Baltimore Orioles.
The lounge does not accept retail wagers but provides fans with a location to place mobile bets while watching their favorite teams. There are no immediate plans for the SuperBook Sports Longue to accept retail wagers but making it a retail betting option hasn’t been ruled out.
Promising Opportunity
The MLGCC reported that in March the state’s sports betting handle reached $385.9 million — a 12% increase compared to the month prior. Maryland generated $44.5 million in gross revenue in March, a 15% month-over-month increase. More than $5.3 million of that revenue will be allocated toward the Blueprint for Maryland’s Future Fund, which supports public education.
“As our market continues to mature, we’re pleased to see it generate a strong contribution to education funding,” said Maryland Lottery and Gaming Director John Martin earlier this month.
SuperBook has an encouraging opportunity in the state after FanDuel — the No. 1 sportsbook in the U.S. in terms of market share at 50% — had a sports betting handle of $176.5 million in Maryland last month. DraftKings posted a $115.5 million handle behind an 11.1% win rate.
