September 2022 was a good month for Maryland sports betting as it helped contribute over $980,000 in taxes for the Chesapeake Bay State. With the start of the 2022 NFL season, physical sportsbooks inside casinos were a lot busier.
According to data released by Maryland Lottery and Gaming, retail sports betting saw $31.37 million in handle, a giant leap of nearly 60% from the $18.6 million recorded in August. As a result, the state collected $984,308 in tax revenue.
In terms of handle (the amount of money bettors wagered), the top destination for September was the FanDuel Sportsbook at Live! Casino and Hotel.
The total handle for retail sportsbooks is as follows:
According to Maryland Lottery and Gaming Director John Martin, mobile sports betting could begin by “late November.”
“I am confident there will be mobile wagering in the state of Maryland in 2022,” Martin said.
The state’s online sportsbook license application process is roughly halfway done. All applications are due by Oct. 21, at which point the Sports Wagering Application Review Commission and the Lottery will begin their review process.
Operators currently running retail sportsbooks will most likely be approved first, like Caesars Sportsbook due to its connection to Horseshoe Casino Baltimore. Already companies are flooding the state with promotional ads and bonus offers. At least one gaming analyst expects the player acquisition phase to be competitive.
Dan Singer, head analyst at sports and gaming consulting firm McKinsey, noted:
“When a market opens up, you’ve got to get out there and start acquiring, because being the first book that someone downloads give you roughly twice as much action as being the second or the third.”
Nick Garcia is a senior reporter for PlayUSA. Garcia provides analysis and in-depth coverage of the gambling industry with a key focus on online casinos, sports betting and financial markets. Garcia has been covering the US gambling market since 2017. He attended Texas Tech University as an undergrad and received a Master of Arts in Journalism from Columbia College Chicago.
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