The bookie industry seems to start off the year with a bang as monthly sports betting reports are coming in. Sportsbooks in Maryland see their best monthly revenue this January, mainly driven by the NFL playoffs. January is generally a good month for sports betting, so it is unsurprising to see sportsbooks beat their records during this time.
According to the latest report from the Maryland Lottery and Gaming, sportsbooks have a $55 million revenue after deductions, way higher than December’s $43.2 million. Interestingly, this happened even with a slight dip in the monthly sports betting handle.
Sportsbooks in Maryland Enjoy Better Revenue
Sportsbooks in Maryland saw $545 million in wagers, which is lower than December 2023’s $560 million. But with most of the action had residents betting on the Ravens, who then lost to the Kansas City Chiefs, bookies won with a hold percentage that jumped from 11.1% in December to 14.7% in January.
If you are new to using your gambling software, you can generate reports to see the status of your sportsbook, to trace which sports or events your players bet on. You can also generate data like your handle, revenue, and hold percentage to see how your sportsbook performed during a certain period. This will help you understand betting trends, customer behavior, and so on.
For now though, sportsbooks in Maryland are limited to offering betting on sports. If you look at your Bookie PPH software, you will see that aside from sports betting, you can earn a lot from online casino gaming as well. For Maryland, operators can earn more- but only if the state legislators pass an iGaming bill. Last year’s efforts were not successful, and many are hoping that they will have better luck this year. Given how much the state has collected from sportsbooks in January alone, they can certainly earn more with iGaming in the mix.
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