All About Maryland Sports Betting Handle And Revenue

The experts at BetMaryland.com have assembled this guide to explain what we mean when we talk about Maryland sports betting revenue, also known as hold, compared to the sports wagering handle that the state reports each month.

There is an evolving sports betting market in Maryland with many online/mobile operators as well as a number of retail sports wagering options at brick-and-mortar casinos. There is also in-person betting at smaller physical facilities around the state. The number of online sportsbook operators and retail sports wagering facilities is expected to increase in the near future.

The handle is simply the total dollars wagered on sports in the state each month. In Maryland, bettors wager hundreds of millions of dollars each month. After a sports betting law was passed by the state’s General Assembly in 2021, legal, regulated sports betting began initially at retail sportsbooks in five casinos in December 2021. Online sports betting launched with seven operators in November 2022.

The revenue derived from online Maryland sportsbook apps is called hold – that refers to the amount that operators have left after they pay out winning bets. Taxable win is the hold minus promotional wagers and other specified deductions. Each sportsbook contributes 15% of its taxable win to the Blueprint for Maryland’s Future Fund, which supports public education programs.

Maryland Sports Betting, April vs. March

Maryland Sports Betting Handle and Revenue: April 2024

As expected, Maryland sports betting traffic dropped in April. The handle of $486,319,124 was down 9.3% from March, when it was $536.73 million. Still, it was the eighth consecutive month the handle topped $400 million. It was also up 48.1% from April 2023’s total ($328.45M).

Operators also reported higher revenues in April, with the $37,909,642 up 17.2% from what they generated in the previous month ($32.36M) and a year-to-year increase of 47.1% comparted to 12 months earlier ($25.76M). As operator income increased, so too did taxes. Maryland received $5,686,446 in April compared to $4.85 million in March and $3.86M in April 2023.

While mobile wagering was down month-to-month, the year-to-year figures show significant growth. The $474,993,823 bet through Maryland’s online sports betting apps was down 9% from March but up 51.5% from the $313,472,676 in bets they accepted in April 2023.

As far as retail Maryland sportsbooks, the April handle of $11,325,301 decreased by 22.6% from March and was down 24.4% from 12 months earlier.

The top online operators for April were Live! Casino Mobile (FanDuel Maryland Sportsbook) at $221,076,138, DraftKings at $141,696,044, Hollywood Casino (ESPNBet) $35,561,701, BetMGM $34,375,308 and Caesars $19,258,216.

Maryland Mobile Sports Betting History

Maryland Sports Betting Handle and Revenue FAQs

When did Maryland sports betting launch?

Retail sports wagering began in Maryland in December 2021. Mobile operators began offering online sportsbooks on Nov. 23, 2022.

What is the tax rate in Maryland from sports betting?

The tax rate for Maryland sports betting is 15%. That’s what operators pay to the state out of the taxable win, which is hold minus promotional play and other deductions.

How often does Maryland release its online sports betting revenue figures?

The Maryland Lottery & Gaming Control Commission reports its figures for sports betting once a month, usually on the 10th of the following month (or, if the 10th falls on a weekend, on the first day of the month after that).

Where do Maryland sports betting tax proceeds go?

Sports gambling tax proceeds go to Maryland’s Future Fund, which supports public education programs. 

Who regulates sports betting in Maryland?

The Maryland Lottery & Gaming Control Commission.

What is mobile sports betting handle?

Mobile sports betting handle refers to the amount of money wagered on mobile or online apps, using phones, laptops or other online devices. In Maryland, total handle refers to the combined handle of both online wagering and sports betting done at licensed retail establishments. Many online operators in the state offer Maryland sportsbook promo codes to customers.

What is handle vs. hold in sports betting?

Handle is the term used to refer to the amount of money wagered. Hold in Maryland refers to what’s left after winning bets are paid out. Taxable win, which also includes deductions for promotional play, is the amount on which the operators are taxed.