Maryland Sports Betting Turns In Modest First Revenue Report – Legal Sports Report

Limited to five retail sportsbooks, Maryland sports betting set a modest foundation in December.

Maryland bettors wagered$16.5 million in December 2021, according to a report from the Maryland Lottery and Gaming Control Agency. Sports betting in Maryland kicked off Dec. 9 when a retail sportsbook at MGM National Harbor opened.

Four more sportsbooks opened throughout the month. Maryland will continue to watch its retail sports betting market mature with mobile sports betting not likely to launch until at least late 2022.

The sportsbooks held nearly $3.2 million, or 19.2%. The state collected $469,297 based on the 15% tax rate on taxable win, which was $3.1 million.

The taxes head to the Blueprint for Marylands Future Fund.

We are truly excited that sports wagering is available, and were eager to do our part to keep the market growing, said MLGCA Director John Martin.

Following MGM National Harbors opening of BetMGM, two sportsbooks opened Dec. 10 at Live! Casino and Hotel and Horseshoe Casino.

The FanDuel Sportsbook at Live! Casino is already likely among the stronger retail sportsbooks in US sports betting, taking $7.1 million in bets. MGM National Harbor took nearly $6 million in bets.

Ocean Downs Casino opened on Dec. 17, while Hollywood Casino opened Dec. 23.

The five sportsbooks that opened were part of the 17 retail licenses allocated in MD sports betting legislation. There are another three sportsbooks waiting for their final approvals to open:

The MLGCA report said, additional facilities are expected to open in the near future.

Mobile sports betting, however, is at least still months away. The Sports Wagering Application Review Commission must first establish the standards and regulations of how to award the up to 30 retail and 60 mobile operator licenses. The Maryland legislature must also approve those standards.

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Maryland Sports Betting Turns In Modest First Revenue Report - Legal Sports Report