The first bets on sports-betting in Maryland were placed on 9 December. Initially, the wagers were restricted to in-person sportsbooks, and the first property to go live was the MGM National Harbor. On 10 December, Caesars’ Horseshoe Casino and Live! Casino also joined the market. Churchill Downs’ Ocean Downs started accepting bets on 17 December, followed by Penn National’s Hollywood Casino on 23 December.
During the remaining days of the month, customers wagered a total of $16.6 million. The highest amount, $7.1 million, was staked via FanDuel at the Live! venue in Anne Arundel County. MGM National Harbor in Oxon Hill followed closely, with $6.0 million staked. Caesars’ Horseshoe in Baltimore reported $2.6 million in bets, while Ocean Downs and Hollywood Casino had $554,218 and $319,001 wagered, respectively.
In total, players won back $13.4 million across all five sportsbooks, resulting in a 19.2% hold for the operators. After deductions of $41,341, including federal excise taxes and losses carried forward, the operators had $3.1 million in taxable revenue. The clear frontrunners in revenue were FanDuel and Live! Casino, generating $1.4 million. MGM National Harbor followed with $975,203, and Horseshoe Casino came third with $535,356. Ocean Downs and Hollywood Casino had revenues of $167,936 and $94,796, respectively.
From the state’s 15% tax, $469,297 was generated for the Blueprint for Maryland’s Future Fund. This fund supports public education programs in the state. Maryland Lottery and Gaming director John Martin expressed excitement about the availability of sports wagering and the commitment to keep the market growing.
Additional operators are expected to introduce retail betting in the coming weeks. The Maryland Lottery and Gaming’s Sports Wagering Application Review Commission is currently developing the process and criteria for mobile licensing. The legislation for legal betting in Maryland was signed into law by Governor Larry Hogan in May 2021, following the approval of the state’s citizens in a 2020 referendum.
