In the latest bookie news, we will take a look at the Old Line State’s sports betting numbers for the month of September. The sports betting market in Maryland has been doing well in general. But sportsbooks in the state were not spared from the summer slowdown of the sports industry. However, September is the month where the numbers start to increase as sportsbooks see more activity in betting, led by football betting.
According to the latest report from the Maryland Lottery and Gaming, the total betting handle for the month of September is $442.4 million. This is huge leap from the last month, giving us a 68% increase in month-on-month betting activity. If you are still learning how to be a bookie, knowing these trends can help you identify and plan your operations each month. It helps you prepare for your cash flow, time management, and be able to strategize marketing and promotional efforts as well.
Sports Betting Market in Maryland in September
Your pay per head bookie software can also help you easily compute for other important data, like revenue. You can then compare it with other markets to see if it is in similar in terms of movement, and if not, be able to identify what makes your sportsbook’s numbers different. For instance, in Maryland, sportsbooks have a $45.6 million revenue for September. This is 83% higher than that of August.
The increase in revenue is quite amazing, considering the hold increased only from 9.4% to 10.3% in September. It is, however, the first full month of football season. Even this affordable sportsbook software can help you offer a complete set of football betting options, from NCAA football to the NFL. Both leagues can be quite profitable. For sportsbooks in Maryland, the handle for football betting alone sits at over $133 million. As always, online sports betting dominates, taking in 95.1% of the overall handle and around $43 million in revenue.