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, November vs. October

Maryland Sports Betting Handle and Revenue: November 2024

What already has been a record-setting fall in the Old-Line State kicked into a new gear during November.

Maryland sports betting operators took in a record wagering handle, along with new high marks for sports betting revenue and tax dollars, according to a Maryland Lottery and Gaming report filed on Dec. 10.

Overall, Maryland sportsbooks took in $639,867,400 worth of total handle in November, up 7.9% from October’s total of $593,105,471, which happened to be the previous monthly handle record in the state.

Of that, $621,012,112 came from mobile wagers, breaking the previous monthly record set in October, when Maryland mobile sports betting operators took in $576,429,289 in handle.

The other major record that was set in November was sports betting revenue, which the state calls taxable win. That total was $78,653,567 last month, breaking the previous Maryland record of $62,530,653 from September. That total was up 67.4% month-over-month from October’s total of $46,998,314.

Maryland’s mobile wagering revenue total of $77,293,580 was up 65.8% month-over-month from October’s sum of $46,632,162 in a month-over-month comparison. Again, the record high of $60,659,868, set in September, was eclipsed.

The third and final state record that was set in the 11th month of the year was state tax from sports betting, which finished at $11,798,035 in November, breaking the previous high of $9,379,598 set in September.

That tax bill was up 67.4% month-over-month from $7,049,747 that Maryland collected from sports betting operators in October, illustrating just how historic of a month wagering operators had in November.

When broken down by operator, FanDuel Sportsbook was top dog among Maryland mobile sports betting operators with $283,374,933 in handle during November. That was followed by DraftKings Maryland Sportsbook ($199,712,264), BetMGM ($52,596,158), Fanatics Sportsbook ($30,533,233) and Caesars Sportsbook ($24,979,794) from sportsbook apps statewide.

MGM National Harbor in Oxon Hill led the way in brick-and-mortar casino sports wagering at $7,280,715 and Bingo World was tops among non-casino retail facilities at $1,006,577 in handle.

Maryland Mobile Sports Betting History