Maryland’s hot start to mobile legal sports betting finally cooled off some in April.
The Old Line State’s online handle of $313.5 million dropped 15% month-over-month, and Maryland produced its lowest full-month total handle since mobile wagering went live in early November 2022.
Maryland Lottery and Gaming reported in its monthly figures both retail and online sports betting sites combined for gross revenue of $35.6 million, on a total handle of $328.4 million during a time without a full college basketball, NBA, or NHL slate.
Despite a $10 million decrease from the highly successful March, the win rate before deductions and $9 million in promotions hit a successful 10.9% — falling to 7.8% on an adjusted revenue of $25.7 million.
The state and its Blueprint for Maryland Future Fund hauled in $3.8 million on taxes, which was also down from March’s record of $5.3 million.
FanDuel dominates in Maryland
April was a bad month for sports bettors who took on Maryland powerhouse sportsbook FanDuel, which hauled in nearly $50 million more in handle and more than double the revenue of rival DraftKings.
FanDuel took in $150.8 million in wagers and recorded gross revenue of $21.2 million. While the revenue slipped less than $4 million from March, April still produced a nearly identical hold of 14%.
Meanwhile, DraftKings made $8.9 million on a handle of $101.3 million while its win rate fell from 11.1% to 8.8% month-over-month. BetMGM posted a much better hold of 10.1% as it made a third-best revenue of $2.8 million on a handle of $28.4 million in April.
MGM National Harbor’s retail sportsbook recorded an even better April hold ($5.8 million) than the previous month ($5.2 million), but more money didn’t increase profits. The win rate of just 4.3%, down from March’s 15.1%, produced a 69% revenue drop in April.
Live! Casino, another top brick-and-mortar sportsbook in Maryland, didn’t fare any better with a win rate of just 3.4% on a handle of over $4.2 million.
Slow start for SuperBook
SuperBook became the newest member of the nine sportsbooks legalized in Maryland sports betting when it was officially licensed to operate on April 13.
One of the largest sports betting brands in the U.S. got off to a late start, and it produced a losing month. SuperBook recorded $530,379 in handle and paid out $532,099 for a win rate of -0.3%. The mobile operator also gave out $44,374 in promotions.
