Maryland residents voted to allow sports betting in the state back in 2020. It has taken a while for sportsbooks to launch, but we did see retail betting first. Its not until November of this year that online sports betting would launch. And now that it has, we can truly see the effect of having online sports betting as part of bookie business growth strategies. Online sports betting boosts Maryland sportsbooks handle- even if online wagering has been live for less than 10 days.
A lot of gambling insight point out the demand for online gambling, and states across the US that offer online wagering tend to have higher handles than states that offer only retail sports betting. The breakdown of the monthly handle in Maryland proves this.
Online Sports Betting Boosts Maryland Sportsbooks Handle in Less than Two Weeks
The total handle of the state for the month is at $219.1 million. Out of that, $186.1 million of bets come from online sportsbooks. Even more encouraging for those who want to build a per head sportsbook, the mobile handle reflects only 9 days of operations.
Maryland’s launch has taken quite a while since the law requires more diversity in the ownership for mobile sports betting operators. Regulations on sports betting are also a bit different from other states. All major professional and college sports leagues and events in the US can be wagered on. Wagering on international awards are also allowed, except for sports in Russian or Belarusan leagues.
There are 7 online sportsbooks operating in the state as of now, but they will continue to issue licenses, and can accommodate up to 60 operators, so there is a lot more opportunities for sports betting in Maryland.
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