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Sports gambling revenue increases in May even as bettors wager less

June 13, 2023

Despite Marylanders gambling less money on sports in May than in April, the state saw an increase in revenue from sports wagering, thanks in part to sportsbooks having more revenue left over from lost bets. Hold, or the revenue remaining after sportsbooks pay out winners, rose by 20% during a month that two underdogs teams from Florida — the Panthers in the National Hockey League and Miami Heat in the National Basketball Association — improbably rose from the bottom of their playoff brackets to their respective championship series.

 

Article Source: The Daily Record

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