Oct 1, 2021; College Park, Maryland, USA; Maryland Terrapins quarterback Reece Udinski (11) throws a pass against the Iowa Hawkeyes during the second half at Capital One Field at Maryland Stadium. Mandatory Credit: Scott Taetsch-USA TODAY Sports

Maryland betting handle tops $32.5 million

A lack of online options for sports betting hasn’t held back the state of Maryland which has reported $32.5 million in betting handle during their first full month of sports betting.

Sports betting launched in the state on December 9, 2021. Only one retail sportsbook opened that day at the MGM National Harbour Casino, but four more soon followed later in the month. In that shortened month Maryland reported $16.5 million in betting handle and a sizable 19.2 per cent hold for $3.2 million in revenue.

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Maryland sports betting reports good handle

With more days on the calendar the sports betting numbers in January easily topped December with $32.5 million in betting handle. The hold for January remained quite high at 13.4 percent which resulted in $4.4 million in revenue.

Two sportsbooks easily led the way in January with Live! Casino reporting a $14.4 million handle, and MGM National Harbor reporting a $10.6 million handle. The other three sportsbooks in the state included the Horseshoe with $4.7 million, Ocean Downs Casino with $1.4 million and Hollywood Casino with $1.5 million.

With 17 retail sports betting licenses already distributed in the state under sports betting legislation, the Maryland Lottery and Gaming Control Agency expects the number of retail sportsbook in the state to grow quickly over the coming months. There are also up to additional 30 retail licenses available and 60 mobile licenses coming down the pipe in the future.

The latest reports from the Maryland Lottery and Gaming Control Agency have said mobile sports betting should launch sometime later this year, although an exact timeline has not been released.

There is a meeting of the Sports Wagering Application Review Commission later this week which could shed more light on the eventual rollout of mobile sports betting in the state.