Maryland’s Licensed Sportsbooks Record Over $320 Million in Wagers in May, According to the Maryland Gaming Commission
Sports betting has become a popular pastime in many states across the US, and Maryland is no exception. According to the Maryland Gaming Commission, licensed sportsbooks in the state recorded over $320 million in wagers in May 2021.
This figure represents a significant increase from the previous month, when sportsbooks recorded just over $260 million in wagers. The increase can be attributed to a number of factors, including the return of major sports leagues like the NBA and NHL, as well as the continued growth of online sports betting.
Of the $320 million in wagers recorded in May, over $290 million was placed online. This highlights the growing popularity of online sports betting, which allows users to place bets from the comfort of their own homes or on-the-go using their mobile devices.
In terms of revenue, sportsbooks in Maryland generated over $27 million in May, with online sports betting accounting for over $24 million of that total. This represents a significant increase from the previous month, when sportsbooks generated just over $22 million in revenue.
The Maryland Gaming Commission also reported that the state’s six licensed sportsbooks paid over $2.5 million in taxes in May, which will go towards funding education and other public services.
Overall, the growth of sports betting in Maryland has been impressive, with the state’s sportsbooks recording over $1.3 billion in wagers since the launch of legal sports betting in March 2021. This figure is expected to continue to grow as more sportsbooks launch in the state and more users turn to online sports betting.
However, it’s worth noting that sports betting can be addictive and should be enjoyed responsibly. Users should always set a budget for their betting activities and never bet more than they can afford to lose.
In conclusion, Maryland’s licensed sportsbooks have recorded impressive figures in May, with over $320 million in wagers and over $27 million in revenue. The growth of online sports betting has been a key factor in this success, and the industry is expected to continue to grow in the coming months and years. However, users should always bet responsibly and within their means.
