Maryland sportsbooks saw a significant increase in parlay wagers in September, with a 25.5% hold on these bets. Parlay wagers involve multiple bets on different games or events, with all selections needing to win in order for the bet to pay out. This high hold percentage means that sportsbooks were able to retain more of the money wagered on parlay bets than they typically do.
The increase in parlay wagers is likely due to the start of the NFL season, as football is a popular sport for parlay betting. Additionally, the legalization of sports betting in Maryland has likely contributed to the growth in overall betting activity in the state.
The high hold percentage on parlay wagers is good news for sportsbooks, as it means they were able to generate more revenue from these bets. However, it also indicates that bettors may have had difficulty winning on their parlay bets in September.
Overall, the growth in parlay wagers and the high hold percentage seen in Maryland sportsbooks in September demonstrate the continued popularity of sports betting in the state. With more and more people getting involved in sports betting, both online and in-person at sportsbooks, the industry is expected to continue to thrive.
As sports betting continues to grow in Maryland, both sportsbooks and bettors will need to stay informed and educated on the latest trends and developments in order to make the most of their betting experience. With the NFL season in full swing and other major sporting events on the horizon, there are sure to be plenty of opportunities for bettors to get in on the action and potentially win big.
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