{"id":16728,"date":"2024-03-12T11:01:10","date_gmt":"2024-03-12T11:01:10","guid":{"rendered":"https:\/\/instantcasinos.com\/?p=16728"},"modified":"2024-03-18T11:39:52","modified_gmt":"2024-03-18T11:39:52","slug":"super-bowl-lviii-brings-442m-to-maryland-in-revenue","status":"publish","type":"post","link":"https:\/\/instantcasinos.com\/blog\/2024\/03\/12\/super-bowl-lviii-brings-442m-to-maryland-in-revenue\/","title":{"rendered":"Super Bowl LVIII Brings $442million In Revenue To Maryland Lottery & Gaming"},"content":{"rendered":"
Super Bowl LVIII brought $442.5million in sports betting revenue to Maryland Lottery and Gaming during its opening spell as a regulated market.<\/strong><\/p>\n Maryland reported a final handle of $442.5m during February 2024, which is an increase from the $339.4m made during this month in 2023.<\/p>\n Super Bowl LVIII played a huge part in this dramatic rise, as the sporting event was said to bring an extra 43.4m in revenue with a 9.8% hold.<\/p>\n Comparatively, February 2023 ended at $40.2m and had a hold of 11.8% – with the Chiefs victory over the 49ers bringing huge growth this time around.<\/p>\n A huge reason for this lies with Maryland’s 13 retail and online sportsbooks, which helped generate a 50.5% increase from last year ($4.2m).<\/p>\n BetMGM, ESPN Bet and DraftKings reportedly accumulated a total of $13.4m through the in promo play during February.<\/p>\n Maryland’s handle may have been amplified by the 58th Super Bowl, however, it regressed from the previous month in January.<\/p>\n Maryland’s various operators revealed a $545m handle, with $527.8m of this coming through the aforementioned online sportsbooks.<\/p>\n The Old Line State must have 15% of their taxable wins through sportsbooks and sports betting revenue sky-rocketed in January – totaling to $80 million with a 14.7% hold.<\/p>\n Parts of this revenue contributes to public education and the operators work alongside the Blueprint for Maryland’s Future Fund.<\/p>\n Maryland have seen a recent change in their sports betting activity, as at the beginning of March, their gaming commission cut out any college player props from their operators.<\/p>\n Those working for stricter gambling laws in Maryland have started to implement a variety of laws and rules to help younger sportsmen with gambling.<\/p>\n Ohio decided to make the same decision, as it should help student-athletes avoid future gambling issues and House Bill 1087 have even asked to ban any online gambling campuses in Maryland.<\/p>\nMaryland Reports $442.5m In Revenue From Super Bowl LVIII<\/h2>\n