June Serves as Worst Sports Betting Month for Maryland Since Launch of Mobile in November

Sports betting was way down in Maryland during the month of June, serving as the worst month since the state launched mobile betting in November 2022.

Dave Bonderoff

Last Updated: July 11, 2023 2:07 PM EDT • 2 minute read

Maryland has become a reliable sports betting jurisdiction in the broader U.S. market, but June proved that it, too, is susceptible to a healthy summer sports betting slowdown.

June was the worst month for the best sports betting apps in Maryland since November, when the state officially launched a comprehensive mobile sports betting platform on the 23rd of that month. June snapped a six-month streak of $320 million or more handle for Maryland.

It isn't all bad news for Maryland sports betting, though. With June's figures factored in, the state has surpassed the $3-billion mark in terms of lifetime handle.

June's handle slips under $300 million

According to the Maryland Lottery and Gaming June earnings report released July 10, bettors spent just under $254.5 million with the state's best sportsbooks.

The best sports betting sites in Maryland accounted for nearly 96% of the overall wagering activity for the state, with $243.8 million of the total $254.5 million coming from Maryland's 10 mobile sports betting providers.

Revenues and taxes paid

According to Maryland Lottery and Gaming, the taxable win for sportsbooks in Maryland was $18,900,337 in June, thanks to a 10.6% hold. Last month’s hold rate came in considerably lower than the average 13.3% hold rate for the fiscal year.

The lower hold rate can be attributed to bettors in Maryland having wagering success on two sports in particular. Maryland sportsbooks lost $314,902 on hockey bets in June. Motorsports betting led to $932 in losses in the state.

It all led to $2,835,051 in total sports betting taxes paid to Maryland state and local coffers in June, thanks to the state's 15% tax rate. That’s down from $4.65 million in May.

FanDuel dominates Maryland

FanDuel once again came out on top as the most popular sportsbook in the state in June. FanDuel generated $108.7 million in bets last month and saw $14.5 million in gross gaming revenue, thanks to an impressive 13.4% hold. FanDuel paid $1.6 million in taxes in Maryland in June and was the only provider to eclipse the $1-million mark in terms of taxes paid to the state.

DraftKings was a predictable second in the Maryland market in June. It took in $89.7 million and reported $7.8 million off of an 8.7% hold. BetMGM was next with a $20.8 million June handle, with $2.2 million in revenues. Caesars was fourth with $11.9 million in June bets, but thanks to an underwhelming 4.9% hold, the sportsbook profits came out to just $588,740 last month.

Of note, Fanatics Sportsbook, which made a major splash last week with its acquisition of PointsBet USA’s assets, totaled a slightly underwhelming $1.6 million in bets in Maryland in June, its first full month of operation in the state.

Written by:
Dave Bonderoff

Dave Bonderoff and betting go hand-in-hand. Both are characterized by "odds". Dave fancies himself as one of the most dedicated sports and pop-culture junkies around, to the chagrin of his family and friends. Following sports for 50 years and writing about it for 20, Dave hasn't found a sport yet that can't contribute to 2-3 straight hours of couch time. That search remains ongoing. As a good old Canadian boy, hockey is in Dave’s heart, as is curling sadly. But evolution is a real thing and that’s why football, baseball, and just about every sport on the planet has become a passion. Dave isn’t afraid to kill some time obsessing over politics or the far-too-frequent awards shows the consume the airwaves.