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Maryland Sportsbooks Extend Run Of Double-Digit Holds To 13 Months

Maryland, (Qnnflash)- In Maryland, sports betting operators maintained their strong performance in July, reporting a hold of 11.4% on a handle of $247.4 million, according to data from Maryland Lottery and Gaming. This marks the 13th consecutive month that the operators’ collective hold has been 10% or higher, and the ninth such month since the launch of mobile betting in November.

Total gross revenue for July reached $28.4 million, with the state eligible to tax $22.1 million after accounting for promotional credits and deductions. The $5.6 million in promotional credits was down by 27.4% compared to June. These credits contributed to the overall figure of over $82.3 million for the year. Maryland collected $3.3 million in tax revenue, bringing the year’s total close to $25 million.

Crab Sports, a Maryland-specific sportsbook, debuted in July and reported nearly $282,000 in wagers with a 12.8% hold and over $36,000 in gross revenue after its July 14 launch. Despite FanDuel’s streak of $100 million monthly handles ending, it led the state’s operators in gross revenue at $13.7 million with a 13.8% win rate. DraftKings closed the gap in handle with FanDuel, recording $92.1 million in wagers, but its 9.2% hold meant a smaller revenue gap.

While other sportsbooks also maintained holds of 11% or higher, Fanatics Sportsbook saw an 18.1% increase in handle, reaching almost $1.9 million in its second full month. However, gross revenue slightly decreased to around $260,000. BetRivers had the lowest hold at 6.3%, while BetMGM posted a 9.7% hold and $2.2 million in revenue.

Baseball and parlays emerged as popular betting options, with the Baltimore Orioles’ contributions boosting baseball wagering to $69.6 million and parlays generating $66.4 million in handle. Tennis and soccer also performed well, while wagering for college football more than doubled compared to June, and NFL futures wagers increased. Retail books also performed strongly, with a 15.9% hold on $9.9 million handle.

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