The second state in February to have a lower sports betting volume is Maryland.
Maryland sports bettors spent $442.6 million (£345.7 million/€404.7 million), up from the previous year but down from January's total.
The inner harbour handle in Maryland increased by 30.4% from $339.4m in February 2023. Nevertheless, it lagged 18.8 percent behind the $545.0 million wager made in Maryland in January of this year.
Similar to what has been happening in New York, the Empire State has also announced a decrease in February handling, even though the Super Bowl was held there. Another possible explanation is that the month of February was shorter than usual due to the NBA All-Star break that occurred from February 16th to the 21st.
Online wagers in Maryland were $428.4 million, with $13.4 million coming from free bets and $14.1 million from retail sportsbooks.
The $545.0 million wagered on sports fell 18.8 percent short of the $58.1 million in taxable gain, which is the sum that remains after subtracting prizes, promotional wagers, and other amounts. This was up 51.2% from $18.6m in the same period previous year, but down 48.9% from $55.0m in January.
A total of $27.1 million was won through mobile wagering, with $942,233 coming from retail wagering.
With a 50.5% increase from the previous year, the total donation to Maryland State in February reached $4.2m.
Maryland remains a stronghold for Live! Casino and FanDuel.
When it comes to online sports betting, the leaders are still Live! Casino Hotel and FanDuel. Handle was $191.3m and taxable win was $16.6m for February.
With a $137.0m handle and a $8.0m taxable win, DraftKings came in second place. The third place finisher was BetMGM, which received $37.3 million in wagers and earned $1.4 million in taxable profit.
In terms of retail, Oceans Down received $2.9 million in wagers and won $442,849 in taxable money. Live! Casino came in second, with a total taxable win of $202,491 and $2.7 million in wagers.
Progress in the casino industry from one year to the next
Moving on to the Maryland casino market, the total revenue for the month of February was $159.2 million. This was up 3.9% from January's $153.2m and 1.4% from last year.
In February, video lottery terminals brought in $109.2 million. The remaining fifty million dollars were from table games.
The top earner was BetMGM National Harbour, with a total of $66.8 million. After Horseshoe Casino's $16.0 million in revenue for the month, Live! Casino came in second with $59.3 million.
Developments in Maryland's budgetary year
In the eight months leading up to February, the handle for the fiscal year to date reached $3.53 billion, starting with sports betting. Compared to the same period last year, this is an increase of 120.6%.
Winnings subject to taxation from sports betting soared 331.1% to $247.0m, with $37.1m going to the state, an increase of 330.9%.
The gaming industry had a 6.5% decline in sales to $1.29 billion during the same time frame.
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