Legal sports betting operators increased in the Old Line State, and so did wagering amounts.
Maryland Lottery and Gaming announced Monday an August handle of $263.7 million from its now 12 online and 12 retail sportsbooks combined.
They didn’t make a huge mark in the overall handle, but with football beginning, wagers rose 6% from July and put the Old Line State over $500 million in handle in the first two months of this fiscal year.
Maryland operators combined to rake in $24.9 million in gross revenue, which was down 12% from July, for a hold of 9.4%.
It was a better run for bettors, who ended Maryland’s double-digit hold streak in all 13 consecutive months of sports betting.
Old Line State sportsbooks handed out a combined $8.1 million in promotional plays, up $2.5 million from July, to record a taxable revenue of $17 million.
With 15% going to the Blueprint for Maryland Future Fund, the state racked up nearly $2.6 million in taxes after other deductions, down from July’s $3.3 million.
Online sports betting made up 95% of the total handle and accounted for all but $474,342 in revenue for August.
FanDuel’s numbers rise
Online sports betting site FanDuel helped the sports betting resurgence numbers in August with a handle of $104.2 million, up from July’s $99.6 million. The online sportsbook not only paced the Old Line State in wager amount, but it also claimed $12.6 million in gross revenue, up 14% month-over-month, to produce a healthy 12.1% hold.
DraftKings was second in Maryland with an August handle of $92 million and revenue of $7 million.
Newcomer SuperBook recorded the highest hold in the state at 25.2% on a handle of $441,336 while Maryland Sub Stadium won 14.5% on a handle of $6.7 million.
Two retail sportsbooks lose in August
MGM National Harbor rode the biggest roller coaster ride. After recording a 19.6% win rate in July, the retail sportsbook lost $170,000 in August, reporting a hold of -2.9% on a state-best handle of $5.9 million.
Brick-and-mortar sportsbook at Live! Casino brought in $2.8 million in wagers and led Maryland with revenue of $372,000 while Horshoe Casino recorded a handle of $1.3 million but ended up in the red like MGM National Harbor.