Maryland sports handle up 48% in April

Sports Betting

Maryland sportsbook revenues followed up on what was a good overall handle. Thanks to a 10.4% win rate (10.6% form Maryland sports betting apps and 2.6% for retail), Maryland sportsbooks were able to generate $50.4 million in gross sports betting revenues in April.

That represents an impressive 41.5% year-over-year spike from the $35.6 million in April 2023 and an even more eye-opening $5.2 million month-over-month jump from the $45.1 million in March, when the statewide hold rate was an uncharacteristically average 8.4%.

Thanks to the state’s 15% tax rate, state providers paid out $5.7 million in taxes from the $37.9 million in adjusted gross revenues. This brings the year-to-date tax contribution total to $23 million, which is nearly $9 million ahead of the pace set for the first four months of 2023.