Maryland sports betting handle reached $263.7 million in August, a 6.5% increase over the month before ($247.4 million.)
Maryland sportsbooks combined for $17 million in August revenue, and the state collected $2.6 million in taxes.
MD sports betting handle share dips for some
DraftKings Sportsbook accepted $91.9 million in online bets last month. It was good for 37% of all betting dollars wagered through Maryland sports betting apps in August.
DraftKings had increased its market share of handle for five consecutive months, accepting as much as 39% of all online betting dollars in July, before giving up a bit of ground in August.
Fanatics increases handle in August
Since its June launch in Maryland, Fanatics Sportsbook has continued to increase its monthly sports betting handle:
- August: $6.7 million
- July: $1.89 million
- June: $1.6 million
Fanatics doled out $1.6 million in promotional bet credits last month, the third-most in the market behind FanDuel ($2.6 million) and DraftKings ($2.3 million.)
Single-digit hold for MD sports betting
Sportsbook in Maryland, in-person and online, combined for a 9.4% win rate in August. Sportsbooks posted a lower monthly hold only twice before:
- February 2022: 3.7%
- June 2022: 6.9%
Both instances happened before online sports betting launched in November 2022.
Parlays, baseball most popular August bets
Parlay bets and professional baseball were the two most popular wagers for bettors in the Old Line State.
Accounting for more than 56% of all bets, parlays and baseball wagers combined for $149 million in August.
Tennis was the third most-popular sport for Marylanders to bet on last month. The $35.2 million in tennis bets was good for 13% of all sports betting in Maryland.