Drop Off in Sports Betting in Maryland in April

Ryan Mountcastle #6 of the Baltimore Orioles as we look at the Maryland sports betting financials for February 2024. — Ryan Mountcastle #6 of the Baltimore Orioles bats against the Tampa Bay Rays on May 10. Patrick Smith/Getty Images/AFP

The April sports betting figures for Maryland have been released, showing a typical decline in activity that is common during this time of year in the American legal sports betting industry.

Following the conclusion of March and the yearly NCAA Basketball tournament, the top sportsbooks in the country typically experience a significant decrease in betting engagement. The excitement of watching the NFL, NBA, and NHL games on TV is replaced by a less active sports betting calendar focused primarily on baseball. Unfortunately, this shift has not led to a substantial increase in wagering volume in the American market.

This week in Maryland, in addition to April’s sports betting and handle report, there was also news of a new sportsbook entering the state’s already impressive sports betting market.

Let’s analyze everything step by step.

Maryland’s April sports betting handle

In April, Maryland saw a decrease in its sports betting handle compared to the previous month, although the drop was not as significant as expected. The state’s 19 sports betting providers generated a total of $328.4 million in April, which was $57 million or 14.9% lower than the $386 million reported in March, according to Maryland Lottery and Gaming.

The standout news from Maryland’s sports betting revenue in April is the overwhelming success of its online providers, accounting for a staggering 95.4% of the total handle according to the Maryland Lottery and Gaming report.

April revenues for Maryland sports betting scene

Despite a decrease in handle, Maryland sportsbooks still managed to generate respectable earnings in April. The state’s 19 operators reported a total gross sports betting revenue of $35.6 million, with a hold of 10.9%, according to Maryland Lottery and Gaming.

April’s revenue totals were $35.6 million, which was $12 million less than March’s reported revenue of $47.6 million. This marks a significant 92.2% increase from April 2022 when legal online sites were not operational in the state.

Maryland’s sports betting providers contributed $3.9 million in taxes to the state, the second highest amount after March’s $5.3 million. In total, these providers have contributed $20.6 million in taxes since the inception of sports betting in Maryland.

FanDuel by far the most popular Maryland betting site

Once again, FanDuel dominated the Maryland online sports betting market, accounting for $150.8 million of the $328.4 million handle with a 14.1% win rate. This marked the sixth consecutive month that FanDuel surpassed a 12% hold in Maryland. In April, FanDuel Maryland generated $21.2 million in revenue, representing over half of the state’s total sports betting revenue for the month.

In April, FanDuel made history by becoming the first sportsbook in Maryland to reach over $1 billion in total handle and $100 million in gross revenues.

In April, DraftKings Maryland came in second place with a total handle of $101.4 million and gross revenues of $9 million. BetMGM followed in third place with $28.4 million in bets and $2.9 million in revenue. Caesars ranked fourth despite a 3.7% hold, and Barstool Underscoreg rounded out the top five sportsbooks in Maryland.

SuperBook added to the Maryland family

This week, Maryland’s legal sports betting industry saw the addition of its 20th operator. SuperBook, a Las Vegas-based company, announced on Tuesday the launch of its online and retail wagering product in the state, marking their eighth location.

SuperBook has made their online sportsbook accessible for download through their website, the App Store, and Google Play. Additionally, SuperBook Bar & Restaurant at Oriole Park at Camden Yards is now open for those who prefer to place bets in person.

Written By:
Perry Sandra

Perry Sandra 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.