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, December vs. November

December was another huge month for Maryland sports betting, though the handle fell slightly short of the state record.

The sports betting handle for the final month of 2024 was $637,301,168, down 0.4% from the state high set in November $639,867,400. Mobile handle, or wagers accepted, hit $619,458,099 in December, less than $2 million shy of the record of $621,012,112 from the previous month.

For 2024, the overall statewide handle exceeded $5.94 billion. That’s a 28.7% increase over the total of nearly $4.62 billion in 2023, the first full year of statewide mobile wagering. Revenue derived from sports betting was up even more dramatically, rising 78.3% from $307.77 million in 2023 to $548.63 million last year.

The revenue for December was $43,405,101, down 44.8% from November’s record $78,653,567. Ditto for taxes, which declined from $11,798,035 in the 11th month of 2024 to $6,510,765 for the finale.

Live! Casino (FanDuel) was the top mobile operator for handle in December at $285,335,808, followed by DraftKings at $182,885,190, BetMGM with $52,410,112, Maryland Stadium Sub (Fanatics) at $40,665,711 and Caesars with $27,215,129.

MGM National Harbor in Oxon Hill was the top brick-and-mortar operator with $7,334,131 in handle. According to Maryland Lottery and Gaming, the retail operation at Long Shot’s in Frederick reopened on Dec. 21. The Long Shot’s sportsbook had been closed since June 9 but it is but back with new partner Caesars Maryland Sportsbook, replacing previous operator Betfred.

Maryland Mobile Sports Betting History