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The first full month of Maryland online sports betting is in the books, but thanks to the high-level of promotional bets operators handed out to state customers only $44,000 in online sports betting tax revenue was generated.
Maryland online sports betting took in $478.3 million in bets for the month of December. Online operators gave away $70.9 million in promotional play to customers, which must be deducted from the state’s taxable win. As a result, online sports betting accounted for $44,791 in sports betting tax revenue for the state, according to a report from the Maryland Lottery and Gaming Control Agency (MLGCA).
Retail sportsbooks accounted for $395,252 in sports betting tax revenue, which resulted in $440,043 in overall sports betting tax revenue for the state in December.
First full month for online sports betting
Overall, the total handle for all sports betting in the state was $497.1 million, according to the MLGCA.
Here are the online sports betting handle totals for the seven live operators:
- FanDuel Sportsbook: $236.2 million
- DraftKings Sportsbook: $157.8 million
- BetMGM: $42.3 million
- Barstool Sportsbook: $16.3 million
- Caesars: $15.5 million
- PointsBet: $6.7 million
- BetRivers: $3.2 million
Ten online sports betting operators were given the go-ahead from the MLGCA to launch on Wednesday, Nov. 23, but only seven are live. The state is still waiting launches from Fanatics, Parx Interactive, and BetFred.
Additional operators on the way
The MLGCA also recently found both Bally Bet and WynnBET to be qualified to hold Maryland online sports betting licenses. SWARC awarded the two operators licenses at its Dec. 14 meeting. The operators will go through regulatory testing with the MLGCA before officially being allowed to launch.
Neither operator currently has any ties to retail sports betting facilities in the state.
By the 2023 NFL season, Maryland Lottery Director John Martin said he expects up to 21 online sports betting operators and between 15 to 20 retail operators to be live in the state.
Robert is an expert on sports betting in the United States, specifically the legalization process and regulation surrounding the industry.
