When you manage your own bookie business, you will need to analyze the data and the numbers your sportsbook generates. You will look at the betting handle, your hold percentage, revenue, and more. If you are using a good sportsbook software, keeping track of these numbers will be easy, as there will be a feature for you to generate reports. We’ll walk you through the numbers as we take a look at the performance of sportsbooks in Maryland.
Your per head sportsbook will be able to help tell you your daily, weekly, and monthly handle, which is the total amount of wagers you take in. For Maryland sportsbooks, the handle is at $247.4 million for the month of July. This is lower than the previous month, but only by a slight 2.8%.
Sportsbooks in Maryland: Sustaining the Hold
Gross gaming revenue is also slightly lower by 2.8%, which is at $28.1 million. However, the hold percentage of sportsbooks in Maryland are at 11.5%. This is 13 straight months of a double-digit hold percentage. This is good news, because it means that sportsbooks are taking in a higher percentage of the handle for more than a year.
The taxable revenue for the month is at $22.08 million, while the state collects $3.3 million in taxes. As for where people place bets, retail sportsbooks took in $9.9 million in wagers. Online sportsbooks remain to be the preferred platform for many. The handle for online sports betting in the state is $237.5 million, which translates to around $26.5 million in revenue for the month.
As you can see, becoming a bookie with a pay per head bookie software continues to be a profitable venture. Even with a slower sports calendar, sportsbooks are still reeling in revenue from wagering. And if you maximize your software, you can open an online casino and boost that revenue even higher.
