Maryland Sports Betting Handle Hits $263.7 Million In August, Up 6.5% From July

The Maryland sports betting handle numbers have been released for the month of August, and there’s some momentum heading into the highly-anticipated month of September. Online betting continued to be the main focus for bettors in the state, although plenty of money was still wagered at retail sportsbooks in the state.

Maryland has been home to a full legal sports betting market for nearly a year now, and the launch has been a major success. With college football and the NFL in full swing, September should be a massive month for Maryland’s sports wagering market.

Maryland Sports Betting Handle Reaches $263.7 Million In August 2023

The Old Line State continues to bring in bets. It’s just been reported that Maryland sports bettors wagered a total of $263.7 million throughout the month of August.

This is a 6.5% increase from July, which saw $247.4 million in total wagers. $250.3 million of this handle was wagered with mobile sports betting apps, while $13.3 million was bet at brick-and-mortar sportsbooks. The highest sports betting handle in Maryland history came in December of 2022, with a total of $497.1 million.

Maryland bettors won $238.8 million throughout the month, with $225.9 million in online winnings and $12.8 million in retail winnings. Tax revenue numbers for the month were also impressive, with $2.4 million in mobile tax revenue and $97 thousand in retail tax revenue totaling $2.5 million. Most of this revenue goes to benefit the Blueprint For Maryland’s Future fund, which focuses on education for the state.

Maryland Sports Betting Close To Celebrating A Year Of Operation

Maryland fully launched sports betting on November 22, 2022. This brought some of the top sports betting operators to the state, allowing anyone 21 and up to sign up for a platform and start betting.

Caesars Sportsbook, BetMGM Sportsbook, FanDuel Sportsbook, and DraftKings Sportsbook are some of the top online sportsbooks in the state. Plus, the state is home to Crab Sports, a locally-run sports betting site that originally rolled out in July.

There are also numerous retail sportsbooks across the state of Maryland, such as the BetMGM Sportsbook at MGM National Hotel & Casino, the Caesars Sportsbook at Horseshoe Casino Baltimore, and the BetRivers Sportsbook at Bingo World. Overall, there are 12 online betting apps and 12 physical sportsbooks throughout the state of Maryland.

September Numbers Should See A Big Jump

Summer is generally a downtime in the sports betting industry, with fewer events to wager on and many individuals focusing on travel. However, all that changes starting in September, when the NFL and college football seasons kick off. This leads to much larger betting handles across the U.S. betting market, and Maryland should see this as the state experiences its first full football season.

For comparison’s sake, take a look at Colorado’s betting numbers from August to September last year. The state (which has a similar population to Maryland) went from $290.1 million in August 2022 to $450.2 million the following month in terms of total handle.

This 55.1% increase shows the popularity of football betting, and the Old Line State has no shortage of fans looking to back teams like the Baltimore Ravens, Maryland Terrapins, and Washington Commanders.