Maryland Sports Betting Bounces Back with All-time Second Highest Tax Revenues
  1. Home>
  2. Sportsbetting News>

Maryland Sports Betting Bounces Back with All-time Second Highest Tax Revenues

Sportsbooks contributed $4.6 million to the state

by - Tuesday, June 13th, 2023 11:10
Mobile sports betting on smartphone
Maryland Sports Betting Bounces Back with All-time Second Highest Tax Revenues from the Maryland Gaming Commission has revealed that the state’s licensed sportsbooks took in over $320 million in wagers throughout the month of May.

According to the report, sportsbooks recorded a hold of 13.3% a significant jump on the 6% reported in April, the first and only time since mobile sports betting in Maryland launched in November 2022, that the hold rate was lower than 11.9%.

Maryland Sports Betting Bounces Back with All-time Second Highest Tax Revenues Maryland Sports Betting Bounces Back with All-time Second Highest Tax Revenues

Sportsbooks reported adjusted revenues of just over $31 million in May, a jump of 12.7% on the previous months total of $27.5 million.

Maryland Sports Betting Bounces Back with All-time Second Highest Tax Revenues Maryland Sports Betting Bounces Back with All-time Second Highest Tax Revenues
Jenny Tang

An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.