Maryland’s sports betting scene continues to expand with the recent opening of the 12th retail sportsbook, operated by Whitman Gaming and FanDuel at Sports & Social in North Bethesda.
Whitman Gaming and FanDuel’s Retail Sportsbook:
The Maryland Lottery and Gaming Control Commission recently granted a sports wagering facility license to Whitman Gaming and FanDuel for a retail sportsbook at Sports & Social in North Bethesda. This section provides insights into the licensing process, the controlled demonstrations conducted in late August, and the significance of this new retail sportsbook as the 12th in the state.
July’s Sports Betting Figures:
In July, Maryland’s sports betting market demonstrated its vitality with a total handle of $247.4 million, as reported by the Maryland Lottery and Gaming Control Agency (MLGCA). This part of the article delves into the breakdown of the handle, emphasizing the contribution of both retail and mobile sportsbooks. Notably, mobile sportsbooks accounted for a substantial 96% of the total handle, reaching $237.5 million.
Ongoing Expansion: BetPARX Sportsbook in Canton:
Building on the momentum, Canton Gaming and Parx Interactive Maryland recently inaugurated a betPARX sportsbook at the Greene Turtle Sports Bar & Grille in Canton, Baltimore City. This section explores the strategic location and the impact of this latest addition to Maryland’s sports betting landscape.
Fiscal Year 2023 Contributions to Maryland:
The Maryland Lottery and Gaming Control Agency reported significant contributions to the state in fiscal year 2023. The combined contribution amounted to $1.59 billion, comprising $848.1 million from casinos, $714.3 million from lottery sales, $25.3 million from sports wagering, and $1.2 million from daily fantasy sports. This part analyzes the various sources of revenue and their respective impacts on the state’s finances.
Lottery Sales Growth and Profit Margin:
Breaking down the figures, lottery sales in Maryland reached $2.764 billion, showcasing a notable 3.8% increase. The profit returned to the state from lottery activities rose by 6% to $714.3 million. This segment discusses the factors contributing to the growth in lottery sales and the implications for Maryland’s overall fiscal health.
Maryland’s sports betting landscape is thriving, with the opening of new retail sportsbooks, robust figures in July, and substantial contributions to the state’s coffers in fiscal year 2023. This comprehensive overview aims to provide readers with a structured and insightful narrative, shedding light on the dynamic developments in Maryland’s sports betting and gaming industry.