SuperBook gains Maryland online sports betting license
Operator becomes ninth sportsbook in Free State as March revenues grow 15%
SuperBook has become the ninth sports betting firm to launch in Maryland after being granted a license by the Maryland Lottery and Gaming Control Commission (MLGCC).
The firm was awarded a license following a controlled demonstration of its sportsbook platform, including its live wagering proposition on April 11.
The Free State launch increases SuperBook’s online sportsbook states to eight, with the firm already operating in Arizona, Colorado, Iowa, Nevada, New Jersey, Ohio, and Tennessee.
Other prominent operators in Maryland include FanDuel, BetMGM, DraftKings, PointsBet, and Caesars Sportsbook.
SuperBook has an existing foothold in Maryland through its long-term partnership with Major League Baseball team the Baltimore Orioles, a deal which was signed in August 2022.
The partnership includes the development of a SuperBook Sports Lounge at the Orioles Camden Yards home despite the state not currently accepting retail sports bets, although there is the option for a retail presence should the state go down the retail route.
Elsewhere, the MLGCC has reported a 15% month-over-month (MOM) increase in its sports betting revenue for March to $47.5m, marking the first March of legalized sports betting in the state.
Maryland’s nine online sportsbooks racked up a handle of $385.9m during the month, up 12% MOM from February’s numbers, with a 28% reduction in promotional and free bet expenditure during the month.
After the deduction of promotional expenditure, adjusted revenue came in at $35m, with Maryland officials collecting a record $5.3m in taxes from operators.
Leading the way in March was FanDuel, raking in a handle of $176.5m and revenue of $25.2m, ahead of long-time rival DraftKings which saw $115.5m in handle and $12.7m in revenue during the same month.
Coming up in third position during March was BetMGM, which saw handle and revenue of $37.9m and $5m, respectively, ahead of Caesars Sportsbook with $20.5m in handle and $1.7m in revenue.
Barstool Sportsbook, PointsBet, and Betfred USA Sports broke the million-dollar-handle threshold in March, generating revenues of $729,500, $526,300, and $141,400, respectively, during the month.
Maryland Lottery and Gaming director John Martin hailed the numbers and the impact of the March Madness tournament on the state’s sportsbook operators.
“There are a few events on the calendar that really drive sports wagering participation, and the NCAA basketball tournament every March is right at the top of that list,” Martin said.
“This was the first time that mobile wagering on March Madness was available in Maryland, and as our market continues to mature, we’re pleased to see it generate a strong contribution to education funding,” he added.