Maryland may not be a huge state geographically, but its population density and proximity to the Nation’s Capital bode well for it being one of the most prolific legal sports betting markets in the U.S.financial metrics for July on Monday, showing that the Maryland sports betting market notched a new milestone. Sportsbooks in Maryland became the 12th state to hit the $1 billion in all-time gross revenue.
Maryland sports betting is also the 11th state to surpass $3 billion in year-to-date handle as well, compiling $3.16 billion in wagers which is a 36.4% year-over-year climb compared to the first seven months of 2023. State coffers have collected nearly $42 million in tax contributions through the first seven months of the year, a $17.1 million boost from the same period last year. Online sportsbooks in Maryland earned $40.7 million in revenue on a $282.4 million online handle, while Maryland’s retail sportsbooks brought in just north of $1 million in revenue thanks to a 15.2% hold on its $8.37 million handle. market, and July was its fourth straight month with a hold percentage with a few decimals of 14%.
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