- Maryland Lottery and Gaming shared September’s sports betting totals
- The state had its most lucrative month of its nearly three-year sports betting history
- Maryland took in nearly $9.4 million in sports betting tax revenue
Maryland sports betting’s current run may only be par with the Washington Commanders tremendous start to the NFL season.
Maryland Lottery and Gaming reported the state took in nearly $9.4 million in sports betting tax revenue during September, the most lucrative month in Maryland’s nearly three-year sports betting history.
September 2024 tax revenues nearly tripled the September 2023 tax revenues as state sports bettors flocked to their apps during the first month of the football season. The state saw nearly a $4 million increase in sports betting tax revenues over August.
Less Operators but More Revenue
Maryland Lottery and Gaming reported a total handle of $532,866,676 and $9,379,598 in sports betting tax revenues for the month. The nearly $9.4 million in tax revenue topped the previous monthly high that was set in January 2024, which was $8.2 million in revenue. It also tripled the $3.2 million tax revenue figure in September 2023.
There were actually more live operators in the state during January 2024 when compared with September 2024. In January 2024, the state had 12 online sports betting apps and 13 retail sportsbooks in operation compared with 11 online sports betting apps and 12 retails sportsbooks in the state last month.
According to the commission, through the first quarter of FY 2025 (July 2024 through September 2024), sports betting revenues for the state totaled $21.2 million, compared to $9.1 million for the same period in FY 2024.
“We’re encouraged that the sports wagering market continues to generate additional funding to support schools, and at the same time we also encourage everyone to be responsible about their betting,” said Maryland Lottery and Gaming Director John Martin in a press release. “Mobile wagering apps have tools that allow you to set limits on your activity. If you bet, please enjoy it in moderation and leave room to simply have fun watching the games and being a sports fan.”
FanDuel Remains Top Operator
FanDuel continued its run as the top operator in Maryland for yet another month, reporting $231.8 million in total sports betting handle and contributing $4.8 million in taxes. DraftKings remained the second most successful operator, notching $175.8 million in total handle and nearly $3 million in sports betting tax revenue.
BetMGM remained in third, with $39.35 million in handle and a little over $652,000 in sports betting tax revenue.
Here are the online sports betting handle and tax revenue totals for the month of September:
- Bally’s: $3,093,813 in handle, $0 in tax revenue
- BetMGM: $39,358,181 in handle, $650,254 in tax revenue
- Bingo World (BetRivers): $6,269,408 in handle, $63,317 in tax revenue
- Caesars Sportsbook: $22,946,310 in handle, $207,732 in tax revenue
- Crab Sports: $653,984 in handle, $10,690 in tax revenue
- DraftKings $175,875,557 in handle, $2,967,146 in tax revenue
- Greenmount (betPARX): $452,955 in handle, $5,793 in tax revenue
- ESPN BET: $15,561,415 in handle, $218,456 in tax revenue
- FanDuel: $231,841,138 in handle, $4,851,282 in tax revenue
- Long Shots: $0 in handle, $0 in tax revenue
- Fanatics Sportsbook: $22,481,299 in handle, $123,286 in tax revenue
- Riverboat on the Potomac: $0 in handle, $0 in tax revenue
- SuperBook: $0 in handle, $0 in tax revenue
- Veterans Services (Bee-Fee): $376,570 in handle, $1,019 in tax revenue
In recent news, Maryland has achieved a record-breaking month in sports betting revenue, signaling a significant milestone for the state’s burgeoning sports betting industry. According to reports, the state saw a total of $25.5 million in sports betting revenue for the month of October, surpassing previous records and exceeding expectations.
This impressive feat can be attributed to a number of factors, including the growing popularity of sports betting among Maryland residents and the successful launch of online sports betting platforms in the state. With more and more people turning to sports betting as a form of entertainment and potential source of income, it comes as no surprise that Maryland has seen such a substantial increase in revenue.
Furthermore, the legalization of sports betting in Maryland has opened up new opportunities for both businesses and consumers alike. Local businesses have been able to capitalize on the growing demand for sports betting services, while consumers have enjoyed the convenience and accessibility of online sports betting platforms.
In addition to the financial benefits, the record-breaking month in sports betting revenue also highlights the positive impact that sports betting can have on the state’s economy. With increased revenue comes increased tax revenue for the state, which can be used to fund important programs and initiatives that benefit all Maryland residents.
Overall, Maryland’s achievement of a record-breaking month in sports betting revenue is a clear indication of the state’s growing success in the sports betting industry. As more and more states continue to legalize sports betting, Maryland is poised to remain at the forefront of this rapidly expanding market.
