Maryland retail sports betting reaches $18.6 million in August

Maryland’s seven retail sport wagering locations handled $18,650,802 from bettors in August and paid out $15,418,951 in winnings, according to the latest Sports Wagering Revenue Report released by the Maryland Lottery and Gaming Control Commission (MLGCC) on Monday.

August numbers are a jump up from July’s handle of $15.5 million.

The amount remaining after paying winners and deducting promotional play and other amounts in August was $3,185,601.

Taxable win

Each sports wagering facility, also known as a licensee, contributes 15% of its taxable win to the state. For the month of August, the seven sport betting facilities combined paid $477,840 in taxes to the Blueprint for Maryland’s Future Fund that supports public education programs.

Sports wagering has contributed a total $3,659,082 to the Blueprint for Maryland’s Future Fund since Maryland launched retail sports betting in December.

MGM National Harbor, Live! Casino, Horseshoe Casino, Ocean Downs Casino and Hollywood Casino began their sportsbook operations in December. Bingo World added sports betting on Aug. 1. Riverboat on the Potomac reported revenue during August for its two controlled demonstration dates and opened to the public on Thursday.

Live! Casino and Hotel in Hanover had the biggest August handle coming in at $7,221,120.35. Riverboat on the Potomac had the lowest handle at $1,139.00 being the newest facility to offer sports betting in the state.

Riverboat on the Potomac

PointsBet Maryland LLC (a wholly owned subsidiary of PointsBet Holdings Ltd.), announced in June 2021 its plans to enter the recently legalized Maryland sports wagering market through an exclusive agreement with Riverboat on the Potomac LLC.

The PointsBet Retail Sportsbook at The Riverboat on the Potomac offers sports fans and bettors in the DMV area elite sports viewing and betting experiences. The sportsbook features 21 high-resolution screens, a bar setup with food and beverage offerings, an exclusive lounge area, booth seating, and standing room, according to a company press release.

The Riverboat on the Potomac, once known as “Little Reno,” is a popular Off-Track Betting (OTB), keno, and licensed lottery retailer location uniquely situated on the bank of the Potomac River. The Riverboat has been a staple of the local community for 28 years as one of Maryland’s four OTB facilities.

The Riverboat is moored in Virginia, however, because the betting lounge, restaurant, liquor store, and other facilities are located over the Maryland state line.

Four other entities that the law designated for retail sportsbooks have been found qualified by the MLGCC and have been awarded licenses by the Sports Wagering Application Review Commission (SWARC): Long Shot’s in Frederick; Greenmount Station in Hampstead; Chesapeake Gaming in Boonsboro; and Maryland Stadium Sub in Landover.

“All four of these entities are completing facility construction or are working through operational requirements with Maryland Lottery and Gaming staff, and are expected to launch sports wagering operations in the near future,” MLGCC said on their website.

Mobile sports betting by year end

Maryland’s SWARC staff believes they have a good chance at launching Maryland mobile wagering by the end of the year.

“We know sports fans are eager to have mobile wagering, and we also know that it will substantially increase the contributions to education funding,” said Maryland Lottery and Gaming Director John Martin. “We’ve been doing everything we can to have it launch before the end of the year, and now we have a good chance to make that happen.”

SWARC opened the application process for mobile and Class B facility sports wagering licenses on Tuesday. The commission is authorized to conduct a competitive process to award up to 60 mobile licenses and up to 30 Class B facility licenses.

The commission has established a 45-day window for businesses and individuals to submit their applications and non-refundable application fees. The deadline to apply is Oct. 21.