Mobile Sports Betting Starts Strong in Maryland, Reports $186 Million In Wagers

Maryland's seven mobile sportsbooks took in $186.1 million in November. The total amount of wagers placed at retail betting outlets was $33 million. Online sports betting in Maryland is legal. The state's combined online and retail sports wagering handle last month totaled $219. 1 million, generating $704,728 in tax revenue for the state treasury.

FanDuel, DraftKings and BetMGM are the biggest U.S. sportsbook operators in Maryland. They accounted for $175 million of the $186 million in wagering. FanDue led the way with $89.9 million (48.3% of all wagerering), followed by Draft Kings at $69.6 million and then BetmGM at 8.1%.

Maryland Lottery and Gaming Director John Martin expects mobile sportsbook operators to continue to offer a lot of promotional wagers in the coming months. Promotional wagering is fully deductible and produced $4,262 in tax receipts during the first nine days of activity. There are no limits on the amount of a sportsbooks’ promotional offerings during their first full fiscal year of operation. The promotional deductibility regulation will see the major sports books enjoy above-average profits in Maryland during first year up and running. Seven sportsbets are currently taking online bets in Maryland. Three additional operators have been granted licenses but were not ready to launch this month. Two of them, Betfred and BetFanatics, have indicated they plan to open early in 2023.