We’re less than a week away from the long-anticipated debut of Maryland online sports betting, which begs the question of how the market will perform in Year One.
With seven of 10 authorized Maryland sportsbook apps scheduled to take bets Nov. 23, the Old Line State appears primed to take off after a long runway.
Maryland will become the second state to launch during the 2022-23 NFL season, after Kansas opened its doors to the betting public Sept. 1. Bettors won't have to wait too much longer before they get to use a Superbook Maryland promo.
BetMaryland.com wanted to get a sense of what the marketplace will look like, handle-wise, during the first calendar year of operation.
We used a state with the closest population (Arizona) that launched online sports betting at a similar point a year ago (Sept. 9, 2021) to get a projection of what we can expect in Maryland.
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Select States in Their First Year of Sports Betting
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Maryland Sportsbooks Primed for Lightning Fast Start
It’s safe to say Maryland, with its pair of teams for hometown NFL betting (the Baltimore Ravens and Washington Commanders), as well as a MLB cornerstone franchise (the Baltimore Ravens) and a Power Five college football program, should be a slam dunk for sportsbook operators in Year One.
Based on the initial year’s performance in Arizona, which also has strong NFL and MLB betting, we can deduce how successful Maryland sports betting will be out of the gate.
Maryland, like Arizona, is kicking off during the NFL and college football seasons — when sports betting nationally is at its peak. The two states have similar populations to pull from, with the Grand Canyon State having 7,151,502 residents to Maryland’s 6,177,224.
In Year One, Arizona sportsbooks raked in $5.4 billion worth of wagers, which averages out to $746.64 per resident.
If Maryland bettors are equally eager, the state would project to have $4.6 billion in wagers during Year One, averaging out to $384.3 million per month.
Where Maryland’s Projections Rank Nationally
If Maryland is able to clear our projected handle figures, then the Old Line State would rank ahead of Colorado ($2.3 billion in Year One, or $399.96 per resident), and Tennessee ($2.3 billion, or $333.33 per resident), and just behind states like Illinois ($5.5 billion, or $433.78 per resident).
Of the states that launched this year, Maryland’s projections would come in behind New York ($11.536 billion, or $581.59 per resident). Kansas has brought in $350.4 million in handle its first two months of operation.
From our projections, it’s easy to see why operators like Caesars Maryland are so eager to get the ball rolling.
It appears wagering could be the gift that keeps on giving this holiday season, for sports bettors and operators in Maryland alike.