The Maryland Lottery and Gaming Control Agency (MLGCA) recently unveiled the latest statistics for June, showcasing the vibrant landscape of sports betting in the state. With 10 retail and 10 mobile sportsbooks contributing to a total handle of $254.5 million, the figures offer a fascinating glimpse into the preferences of Maryland’s bettors. This comprehensive analysis delves into the key operators, their performances, and the broader impact on the state’s gaming industry.
Handle Breakdown:
In June, Maryland’s sportsbooks collectively witnessed a handle of $254.5 million, with mobile platforms dominating the scene at 96%, accounting for a staggering $243.8 million. This shift towards mobile betting underscores the changing dynamics of how people engage with sports wagering.
Top Operators:
Breaking down the operator rankings, FanDuel emerged as the leader, reporting a taxable win of $10.8 million from $108.6 million in bets. DraftKings followed closely with an $89.6 million handle and a $5.6 million taxable win. Other notable performers included BetMGM, Caesars Sportsbook, and Barstool Sportsbook, each contributing to the diverse landscape of sports betting options.
New Entrants:
Fanatics Sportsbook made its mark, securing $1.6 million in online sports bets during its inaugural month of operation in Maryland. The entry of new players like Fanatics adds an extra layer of dynamism to the competitive sports betting market.
Tax Contributions:
Maryland levied $2.8 million in sports betting taxes for June, operating at a 15% rate on taxable wins. The total taxable win for the month amounted to $18.9 million. Retail sports betting contributed $91,242, while online sports betting took the lion’s share with $2.7 million in revenue. This taxation structure plays a crucial role in funding various state initiatives.
Casino Gaming Revenue:
In addition to sports betting, Maryland’s six casinos collectively generated $163.7 million in gaming revenue for June, marking a marginal decrease of 0.6% compared to the same period in 2022. MGM National Harbor emerged as the revenue leader with $69 million, followed by Live! Casino & Hotel, Horseshoe Casino, Ocean Downs Casino, Hollywood Casino, and Rocky Gap Casino.
The June 2023 figures reflect the evolving landscape of Maryland’s gaming industry, with sports betting taking center stage. As mobile platforms dominate the betting scene, established operators and new entrants alike contribute to the diversity and vibrancy of the market. The tax contributions from sports betting underscore its role in supporting essential state functions, while the casino gaming revenue provides a broader perspective on Maryland’s overall gaming landscape. The nuanced interplay between sports betting and casino gaming creates a compelling narrative for the future of gaming in the state.