Sports betting in Maryland topped $16 million in its first month at Maryland’s casinos, which in December reported their second-best monthly revenue, as reported by the state.
The Maryland Lottery and Gaming Agency released the numbers for sports wagering in the five casinos where it is offered, showing a combined handle of $16,552,430 with Live! Casino & Hotel Maryland (opened Dec. 10) leading with $7.1 million in handle; followed by MGM National Harbor (opened Dec. 9), which saw $6 million; Horseshoe Casino Baltimore (opened Dec. 10) with $2.6 million; Ocean Downs (opened Dec. 17) which reported $554,218; and Hollywood Casino Perryville reaching $319,001.
A total of $13,382,430 was eventually paid out to winners, leaving the casinos with $3,128,660.
The casinos, which also offer slot machines and table games, collectively generated $172.9 million during December, their second-best revenue month ever.
The state’s revenue share topped $71 million. The largest share goes to the Maryland Education Trust Fund. The horse racing industry, local government programs and small minority-owned and women-owned businesses also receive portions.
The casino revenue record of $180.1 million was set in July 2021. The $172.9 million was 45% higher than the same month a year earlier, when the casinos were operating under COVID-19 restrictions.
Maryland Lottery and Gaming Director John Martin made a statement on these numbers and said: “The combination of the holiday season and the launch of sports wagering at five of the casinos during December led to great results”.
The monthly hold after the first month of sports wagering was 19.2%. States with longer gambling histories and more casinos such as Nevada and New Jersey have each had months where they handled more than $1 billion in sports wagers.
In-person sports wagering started in early December with Horseshoe Casino Baltimore and Live! Casino & Hotel Maryland opening their sportsbooks with ribbon-cutting ceremonies attended by Governor Larry Hogan.
Original article: https://www.yogonet.com/international/news/2022/01/11/60890-maryland-39s-first-sports-betting-month-tops–16m-handle
