Sports betting in Maryland tops $16 million in first month as casinos approach revenue records

Sports betting in Maryland tops $16 million in first month as casinos approach revenue records

Sports betting topped $16 million in its first month at Maryland’s casinos, which reported nearly record revenue, according to the state.

Live! Casino & Hotel Maryland led with $7.1 million in handle — the amount wagered — followed by MGM National Harbor ($6 million), Horseshoe Casino Baltimore ($2.6 million), Ocean Downs ($554,218) and Hollywood Casino Perryville ($319,001), said the Maryland Lottery and Gaming Agency. The state’s sixth casino, Rocky Gap, doesn’t offer sports wagering.

The casinos, which also offer slot machines and table games, collectively generated $172.9 million during December, their second-best revenue month ever.

The casino revenue record of $180.1 million was set in July 2021.

“The combination of the holiday season and the launch of sports wagering at five of the casinos during December led to great results,” said Maryland Lottery and Gaming Director John Martin in news release.

The $172.9 million was 45% higher than the same month a year earlier, when the casinos were operating under COVID-19 capacity restrictions.

The monthly “hold”— the amount kept after casino sportsbooks pay out winning wagers ― was 19.2%.

States with longer gambling histories and more casinos far eclipse Maryland in sports betting Nevada and New Jersey have each had months where they handled more than $1 billion in sports wagers.

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