Maryland mobile sports betting is off to a great start.

According to GeoComply, a geolocation and fraud specialist company, Maryland online sports betting experienced 16.5 million geolocation transactions over the course of the U.S. Thanksgiving holiday from Nov. 23 through Nov. 27.

Maryland doubles Virginia traffic

By comparison, during the same time period Virginia experienced 8.5 million geolocation transactions, Indiana reported 6.7 million, Tennessee 6.6 million, and Colorado 3.8 million.

New Jersey, which has a much higher population than Maryland, also reported 17.1 million geolocation transactions over the holiday weekend.

“A strong start for the regulated market delivers on the promise of new revenues and consumer protections. Marylanders will continue to ditch illegal offshore sportsbooks for the security of legal, regulated operators that provide player safeguards and tax dollars for the state, just as lawmakers intended,” GeoComply SVP Compliance Lindsay Slader said in a release.

GeoComply reported Maryland sports bettors have registered 477,365 unique sports betting accounts in the state. On Thanksgiving, 3.7 million geolocation transactions were reported.

Seven operators fully launched their sports betting services on Wednesday, Nov. 23. The Sports Wagering Application Review Commission (SWARC) approved 10 operators for online sports betting licenses.

These seven operators all launched last week.

• Barstool Sportsbook
• BetMGM
• Caesars Sportsbook
• DraftKings
• FanDuel
• PointsBet
• Rush Street Interactive

BetFanatics, BetFred, and Parx Interactive were also approved by SWARC for online sports betting licenses, but are not ready to launch.

Barstool Sportsbook will operate online sports betting for the Hollywood Casino in Perryville; BetFred will operate betting for OTB parlor Long Shots; BetMGM will operate betting for MGM National Harbor Casino; Caesars Sportsbook will operate betting for Horseshoe Baltimore Casino; DraftKings will operate betting for the Maryland State Fairgrounds; FanDuel will operate betting for the Maryland Live! casino; Parx Interactive will operate betting for Greenmount OTB; PointsBet will operate betting for Riverboat on the Potomac; and Rush Street Interactive will operate betting for Bingo World.

Maryland sports betting revenue projections

Maryland sports betting revenue should provide a positive boost for the Old Line State. Revenue estimates shared from Spectrum Gaming have Maryland taking in nearly 123.3 million in gross gaming revenue during its first year of operation, which translates to $26.4 million in taxes.

By year five? Spectrum Gaming estimates the state will see a massive jump to $542.4 million in gross gaming revenue with $99.7 million in taxes.

Maryland sports betting tax revenue will be contributed to the Blueprint for Maryland’s Future Fund, which supports public education programs.

“Sports betting is helping us to keep these critical dollars in the state of Maryland and is providing us with another critical revenue source for Maryland schools,” Gov. Larry Hogan (R) said during his launch announcement.

https://www.saturdaydownsouth.com/sports/16-5-million-transactions-for-maryland-online-sports-betting/