Drop Off in Sports Betting in Maryland in April

April sports betting numbers for Maryland are out and, unsurprisingly, they reflect the start of an annual American legal sports betting slowdown. 

After March and the annual NCAA Basketball tournament, the nation's best sportsbooks are always subjected to a huge drop off in betting activity. Nights in front of the television obsessing over the NFL, NBA, and NHL are replaced by a relatively small sports betting schedule highlighted by baseball, which hasn’t so far translated to high wagering volume in the American market.

April's sports betting and handle report aren't the only news out of the Maryland scene this week. The state welcomed a new sportsbook to what has been a respectable sports betting market thus far.

Let's break it all down.

Maryland’s April sports betting handle

Maryland's April sports betting handle declined month-over-month, but it wasn't as stark a drop as it could have been. Maryland's 19 sports betting providers took in a combined $328.4 million in April, about $57 million or 14.9% lower than the $386 million the state reported in March, according to Maryland Lottery and Gaming.

Perhaps the bigger story out of Maryland's April sports betting haul is the dominance of its online providers. The Maryland Lottery and Gaming report identified a whopping 95.4% of their handle coming from online betting sites.

April revenues for Maryland sports betting scene

Revenue totals for Maryland sportsbooks followed the handle's downward trend, although earnings for the 19 operators in the state were certainly respectable. Maryland Lottery and Gaming reported gross sports betting revenue totals of $35.6 million in April, thanks to a 10.9% hold.

April's revenue totals came in $12 million less than the $47.6 million reported in March. It is a stunning 92.2% increase from April 2022 when legal online sites in the state were not yet live.

Taxes collected by the state from Maryland's sports betting providers came in at $3.9 million, the second highest total for the state behind the $5.3 million from March. Maryland’s sports betting providers have now contributed $20.6 million in taxes all-time.

FanDuel by far the most popular Maryland betting site

FanDuel was once again the top performing sportsbook in the relatively new Maryland online sports betting market. FanDuel was responsible for $150.8 million of the overall $328.4 million handle in the state thanks to a healthy 14.1% win rate. It was the sixth straight month that the sportsbook has eclipsed a 12% hold in Maryland. Revenues for FanDuel Maryland came in at $21.2 million in April, more than 50% of the total sports betting revenue for the state during the month.

With April’s totals, FanDuel became the first sportsbook in the Maryland market to surpass $1 billion in handle and $100 million in gross revenues.

DraftKings Maryland finished a distant second in terms of April handle with $101.4 million in bets taken in with gross revenues of $9 million. BetMGM was third with $28.4 million in wagers and $2.9 million in gross revenues. Caesars was fourth but posted an unfavorable 3.7% hold and Barstool Sportsbook rounded out the top-5 performing sportsbook in Maryland.

SuperBook added to the Maryland family

The other news out of the Maryland legal sports betting industry this week was the launch of its 20th operator. Las Vegas-based SuperBook announced Tuesday that it has launched its online and retail wagering product in the Old Line State, making it their eighth location.

SuperBook has made their online sportsbook available for download via the company's website, the App Store and Google Play. For those wishing to place a bet in person, SuperBook Bar & Restaurant at Oriole Park at Camden Yards is officially open for business.