Maryland saw sports betting revenue rise by 48.1% year-on-year to $486.3m during the month. Retail accounted for $11.3m of handle, with around 98% coming from mobile.
The US state recorded hold of 10.4%, with $435.9m paid out in prizes. This compared to hold of 10.9% in April 2023 on $292.8m. Promo play in Maryland was up from $9.0m to $11.1m.
Taxable win was at $38.0m in April, which was up on $25.8m in the prior period. This led to a 47.1% rise in the contribution to state of $5.7m. This was the fourth-best single-month total since Maryland’s online sports betting market went live in November 2022.
Maryland’s sportsbooks have collected almost twice as much handle as at the same point last year. From July 2023 through April 2024, sports wagering was up 96.7% to $4.6bn. Prizes paid out were more than double at $4.1m compared to $2.0bn by April 2023. Handle so far this year is 10.5% compared to 13.6% last year.
Contribution to state has grown 167.8% to $47.6bn during the year to date.
MGM National Harbor fall impacts overall casino performance
The six casinos in Maryland combined to generate $163.2m in revenue from slot machines and table games during April 2024. This was a 6.6% decrease compared to April 2023.
Casino gaming contributions to the state during April 2024 totalled $69.8m, a 3.6% decrease compared to the prior period.
MGM National Harbor, the state’s biggest venue, saw gaming revenue drop 9.8% to $68.1m. Live! Casino & Hotel, the second biggest property, saw gaming revenue fall 1.9% to $60.9m.
Original article: https://igamingbusiness.com/sports-betting/maryland-sports-handle-up-almost-50-in-april/
