The Sports Betting Handle Dips in July, But Operators Generate More Revenue Due to a Higher Win Rate


Even though Maryland took a huge step forward in pushing for mobile sports betting, more retail locations are setting up shop across the Old Line State. Sports betting activity in the state has also declined as the summer slow down will come to an end soon.

More Retail Sportsbooks Enter Maryland

Online sports betting is still ways off; however, The Maryland Lottery and Gaming Control Commission will add more retail locations. Two more gaming facilities will be open for business, as stated at the meeting on Wednesday.

One location will be open to the public at the Washington Commanders’ FedEx Field. The Sports Wagering Application Review Commission can award these licenses during their next meeting, which will take place on August 17th.

On Wednesday, the MLGCC also qualified Betfred for a retail location. The sportsbook operator will not need approval from the SWARC. As many as five more locations could be approved at a later date.

The SWARC is in the process of developing the rules and regulations for the mobile market. However,nfl100 Gov. Larry Hogan wants the commission to speed up the process as he sent a letter to them.

Gov. Hogan wants the mobile sports betting market to start by September 8th, which is the start of the NFL season. The average betting volume skyrockets during the NFL as football is the most wagered sport across the industry.

At its July meeting, SWARC members approved draft regulations and applications, which are now awaiting approval by the legislative review commission.

The Retail Locations in Maryland Witness Less Wagering Volume

As expected, the summer slowdown continues as MLB is the only major sport that is in season. The six retail locations combined to register a handle of $15.5 million in July, which marked a decline from June’s $19.1 million.mlblogo150

This was the fourth consecutive month in which the handle has declined. With the numbers released, July’s total handle was the lowest since the operation began in December.

The handle may have witnessed a slight decrease, but these in-person facilities had a much higher win rate when compared to June. The retail locations were able to generate $2 million in revenue due to a win rate of 13.1 percent compared to just 6.9 percent in June, which brought in $1.3 million.

The state was able to collect $298,177 in taxes for the month. In its eight months of operation, the state has been able to collect $3.2 million in taxes.

How Did These Retail Locations Do in July?

Live! Casino leads the way with a handle of $6.2 million. The next was MGM National Harbor, as it secured a handle of $4.1 million, followed by Horseshoe Casino at $3.3 million. The last group was held by Hollywood Casino at $1 million and Ocean Downs Casino at $869,585.betmgmlogo

Bingo World is the newest location on the block, with a handle of $1,990.39. This was also the first non-casino retail location in the state as it opened its door to the broader public on August 1st and has also partnered with BetRivers.

Maryland will look to expand its market in the coming days. With a mobile sports betting market, the market could help Maryland reach new heights.