The numbers are in, and it’s safe to say that Americans have taken a liking to legalized sports betting.
The American Gaming Association (AGA) recently released its annual State of the States report detailing the commercial gaming industry in the 34 jurisdictions with legal casino gaming and sports betting.
2021 was a banner year for gambling, as the regulated US sports betting market raked in total revenue of $4.33 billion, not including sportsbooks in tribal casinos — an increase of over 179% from the previous year.
The year saw Americans wager $57.71 billion, nearly triple the handle ($21.6 billion) that was bet in 2020.
“Four years post-PASPA, legal sports betting’s success is proving what we’ve known all along,” AGA President and CEO Bill Miller said in a press release. “American consumers are eager to wager within the protections of the regulated market. It also reinforces the need to stamp out offshore, illegal operators who prey on vulnerable customers.”
How Did Maryland Perform?
It was a record year for Maryland’s commercial casino gaming industry, as 2021 saw the industry in the Old Line State bring in $1.93 billion in revenue — up 57.1% from 2020 and 9.6% from 2019.
The bulk of the statewide revenue came from electronic gaming devices ($1.3 billion), while table games contributed $622.9 million.
MGM National Harbor near Washington D.C. and Live! Casino on the Baltimore-Washington corridor were the second and third highest-grossing casinos outside of Nevada in 2021.
Sports betting launched in mid-December but contributed approximately $3.2 million in its first legal month.
While Maryland sports betting apps have not gone live yet, Maryland has paved the way for up to 60 online betting licenses to accompany 17 retail locations. As of right now, bettors in MD can wager on sports at five land-based casinos:
- Horseshoe Casino Baltimore – 1525 Russell St, Baltimore, MD 21230
- MGM National Harbor – 101 MGM National Ave, Oxon Hill, MD 20745
- Maryland Live! Casino & Hotel – 7002 Arundel Mills Cir, Hanover, MD 21076
- Hollywood Casino Perryville – 1201 Chesapeake Overlook Pkwy, Perryville, MD 21903
- Ocean Downs Casino – 10218 Racetrack Rd, Berlin, MD 21811
In 2021, Maryland’s commercial casinos produced $814.4 in tax revenue, which was 60.4% higher than in 2020.
The majority of the tax dollars ($591.6 million) will go towards Maryland’s Education Trust Fund, while the rest will be divided between local impact grants, responsible gaming initiatives, the state’s horse-racing industry, and minority and women-owned businesses.