Promo Dollars Flow In First September With Mobile Maryland Sports Betting

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Maryland sports betting

Maryland sports betting had its second-highest handle ever with $442.5 million bet in the state’s first September with mobile betting.

NFL handle accounted for 17% of the month’s total Maryland sports betting handle, according to figures released Tuesday by the Maryland Lottery and Gaming Control Commission.

This will be the first complete season of online NFL betting in Maryland, which launched mobile wagering in November last year.

Promotional spending up with NFL betting

With the start of football season, MD sports betting operators combined to deduct $24 million in promotions from their taxable revenue.

Operators twice doled out more promo dollars in the past. That happened in November and December last year, the first two months of online sports betting in Maryland.

The three market leaders gave out the most promotions in September:

Fanatics MD sports betting promos grow

Fanatics Sportsbook handled $12 million online in September, its first complete month of full-scale operations in Maryland. The sportsbook went live for all customers in mid-August after an extended beta test period.

Fanatics reported $2.4 million in September promotions as the company continues to build its betting database.

The promotional budget was up from $1.65 million the previous month and was the fourth-highest in the state. Caesars, fourth in total handle with $18.8 million, deducted $510,000.

PointsBet, which Fanatics will soon take over, accepted $4.1 million in online bets last month, its third-highest monthly handle figure this year.

Maryland sports betting by the numbers

Online sports betting made up more than 95% of September wagering, with mobile bettors staking $421 million.

FanDuel led all online sportsbooks, generating $11.1 million in taxable revenue off $175 million in bets last month. DraftKings made $5.7 million off bettors who staked $154.1 million through its app.

Operators reported a total of $45.6 million in gross revenue for a 10.3% hold. After promotions and other deductions, taxable net gaming revenue fell to $21.5 million, or a 4.9% NGR hold.

Maryland collected $3.2 million in monthly sports betting taxes.