Maryland Sports Betting Handle and Revenue for July

Consistent with most betting markets across the country as featured in our gambling news, the Maryland sports betting handle dips this July. The total betting handle for the state is a mere $15.5 million. Sportsbooks took in $19.1 million in wagers in June. The low handle, however, is not just due to less sports events during the month.

Maryland currently only offers retail or brick and mortar sports betting. Which is a disadvantage for the state, as pay per head sportsbook users know that the money really comes in through online sports betting. This month is particularly bad for Maryland, as this is the lowest betting handle they have had for the year. Its also the lowest handle since December 2021’s $16.5 million, which was the maiden betting handle of the state when it went live.

 

 

Maryland Sports Betting Handle

Given the slow pace of growth for retail sports betting in the state, many in the industry are looking forward to seeing sports betting go online in Maryland. Currently, the state has 6 retail sports, with more on the way. As for online sports betting, the timeline has been set for the second half of 2022, with a request to open before football season starts. As of now, there is still no update, and even Governor Hogan has released a scathing letter that points how the state is losing so much money in funding that could have come from betting revenue taxes.

For those who are earning more money in sports betting, remember that Maryland is a sports-rich state. There are so many in-state sports teams and franchises, all with very loyal fanbases. Given Maryland’s location as well, it makes for a great location for sports betting. It could possibly compete with some of the biggest betting markets in the country.

 

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