The latest revenue report 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.
Maryland Sports Betting Bounces Back with All-time Second Highest Tax Revenues launched in November 2022, that the hold rate was lower than 11.9%.Of the $320 million wagered on sports, $305 million was wagered through mobile sports betting apps. As a result, online sports betting accounted for 95.3% of all sports wagers throughout the month.
The report also shows that promotional credits have once again declined and were just short of $10.9 million for the month.
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
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.