Maryland's January Sports Betting Revenue Surges by 23.4%
Date: 2024-02-13 Author: Dima Zakharov Categories: SPORTS BETTING
Maryland's January Revenue Soars
Maryland has witnessed a remarkable surge in its sports betting revenue for January, recording a substantial 23.4% year-on-year increase. The state accumulated an impressive $545 million in revenue for the month, surpassing last year's figures by a considerable margin.
Impressive Growth Figures
The revenue figures for January in Maryland far exceeded those of the same month last year, highlighting the significant growth trajectory in the state's sports wagering sector. Taxable wins for the month amounted to $55 million, with a noteworthy contribution of $8.2 million to the state, reaching an all-time high.
Key Factors Driving Success
The success in Maryland's sports betting arena has been attributed to various factors, notably the NFL playoffs, which served as a significant driving force behind the surge in sports wagering activity. The sporting calendar played a pivotal role in propelling the state's revenue figures to unprecedented levels.
Leading Performers in Maryland
FanDuel emerged as the frontrunner in Maryland's sports betting landscape for January, dominating both online and retail channels. Live! Casino Hotel and FanDuel recorded a substantial handle of $244.6 million for online sports wagering, outpacing competitors such as DraftKings and BetMGM.
Continued Growth Trajectory
Since the launch of online sports betting in Maryland in November 2022, the state has consistently witnessed robust revenue figures, showcasing a promising growth trajectory. Despite falling slightly behind the all-time high set in December, Maryland's sports betting sector continues to flourish, indicating sustained momentum in the market.
