Maryland sportsbooks report February handle of USD 340 M

Just under $340 million was wagered on sports in Maryland in February, and the hold reported by sportsbooks across the state was 11.8% for the month. The handle was likely boosted significantly by the Super Bowl. This was the first year Marylanders had access to legal mobile sportsbooks on Super Bowl Sunday.

Still, Marylanders wagered more money on sports in December ($497.1 million) and January ($441.5 million) than in February. Promotional wagers accounted for $15.8 million worth of sports bets in the state in February. Promotional bets are tax deductible for sports betting operators during their first fiscal year of operation in the state.

Mobile sports betting accounted for 95.6% of sports wagering handle in February. Barstool Sportsbook, Betfred, BetMGM, BetRivers, Caesars Sportsbook, DraftKings, FanDuel, and PointsBet are live in Maryland. Other mobile sportsbooks, including Fanatics Sportsbook and WynnBET, are expected to start soon. 

FanDuel, DraftKings pace mobile sportsbooks

FanDuel paced all Maryland mobile sportsbooks with a February handle of $157.7 million. DraftKings was second, recording a handle of $100.5 million. FanDuel had a February hold of 14.7%, well above DraftKings’ 10.9%. 

No other mobile sportsbook recorded a handle of more than $50 million. BetMGM reported $33.2 million wagered on its mobile platform, and Caesars Sportsbook reported a handle of $16 million. Betfred, which launched its mobile platform on Feb. 9, reported a handle of $406,018 and a hold of 12.7% in its first few weeks of operation in the state.

FanDuel and DraftKings have dominated mobile handle in Maryland. FanDuel has received $692.7 million worth of wagers in the fiscal year, while bettors have wagered $459.9 million on DraftKings’ mobile platform.

MGM National Harbor popular

In retail betting, customers wagered just under $5.6 million at MGM National Harbor in February, the highest handle of any sportsbook. The location reported a hold of just 2.3% for the month, though. That snaps a streak of seven consecutive months with a hold of at least 10% for MGM National Harbor’s retail sports betting operation.

Live! Casino ($3.4 million), Horseshoe Casino ($2.2 million), and Ocean Downs Casino ($1.1 million) were the only other Maryland retail sportsbooks with a handle north of $1 million in February. 

Sports bettors cleaned up at the Fanatics Sportsbook at FedEx Field, as the location reported a handle of just over $650,000 while paying out winnings of just over $800,000. It was the only retail sportsbook in the state that failed to post a positive hold for the month.