- Maryland sports bettors flocked to their apps and sportsbooks in October
- Maryland Lottery and Gaming reported $593.1 million in sports betting handle in October, it’s highest monthly total ever
- The state reported $7.04 million in sports betting tax revenue, the third highest total since launch
Maryland sports betting hit its highest monthly handle mark ever since launching in December 2021.
Maryland Lottery and Gaming reported $593,105,471 in sports betting handle for October, the most ever bet in a month by Maryland residents during the state’s sports betting history. The October 2024 handle was a 22.8% increase over the October 2023 handle total of $483.1 million.
“October is a uniquely busy month on the sports calendar because all of the major pro leagues in the U.S. are in season, along with NCAA football,” said Maryland Lottery and Gaming Director John Martin. “The Baltimore Ravens and Washington Commanders have both looked like Super Bowl contenders, so there’s definitely been extra enthusiasm in the air. We can’t say exactly how much that translated into the strong handle we saw in October, but the success of the local teams captures everyone’s attention, so it was most likely a factor.”
The Most Lucrative Month All Time
Online sports betting accounted for the vast majority of the month’s handle at $576.4 million compared with just $16.6 million in retail sports betting. October’s handle total topped September’s total by nearly $44 million.
Maryland Lottery and Gaming also reported $46,998,314 in taxable win for the month, resulting in $7,049,747 in sports betting tax revenue for the month. October’s sports betting tax revenue saw a 21.3% increase compared with the October 2023 total of $5.8 million.
It was the third best-monthly total since the launch of sports betting in December 2021.
Through the first four months of FY 2025 (July 2024 through October 2024), the state has taken in nearly $28.3 million in sports betting tax revenues. The state only reported $14.9 million in sports betting tax revenues for the same period in FY 2024.
To date, Maryland has reported more than $116.7 million in sports betting tax revenue.
FanDuel Remains Top Operator
FanDuel continued its run as the top operator in Maryland for yet another month, outpacing DraftKings by nearly $90 million in handle. FanDuel reported $269,270,893 in handle and paid $3,976,358 in taxes to the state.
DraftKings reported $180,426,385 in October handle and paid $1,979,120 in taxes to the state.
Here are the online sports betting handle and tax revenue totals for the month of September:
- Bally’s: $2,062,530 in handle, $0 in tax revenue
- BetMGM: $47,948,295 in handle, $430,496 in tax revenue
- Bingo World (BetRivers): $6,025,526 in handle, $53,479 in tax revenue
- Caesars Sportsbook: $25,390,295 in handle, $192,979 in tax revenue
- Crab Sports: $713,196 in handle, $792.63 in tax revenue
- DraftKings $180,426,385 in handle, $1,979,120 in tax revenue
- Greenmount (betPARX): $1,002,691 in handle, $13,462 in tax revenue
- ESPN BET: $14,861,528 in handle, $148,623 in tax revenue
- FanDuel: $269,270,893 in handle, $3,976,358 in tax revenue
- Long Shots: $0 in handle, $0 in tax revenue
- Fanatics Sportsbook: $28,491,097 in handle, $197,881 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): $236,847 in handle, $1,629 in tax revenue
Maryland Sports Betting Reaches Record Monthly High
In recent news, Maryland sports betting has reached a record monthly high, with a significant increase in wagers placed and revenue generated. This surge in activity can be attributed to several factors, including the growing popularity of sports betting in the state, the expansion of online betting options, and the return of major sporting events.
According to the latest data released by the Maryland Lottery and Gaming Control Agency, sportsbooks in the state reported a total handle of $85.2 million in the month of September, marking a 25% increase from the previous month. This impressive figure represents the highest monthly handle recorded since sports betting was legalized in Maryland earlier this year.
The surge in sports betting activity can be attributed to the continued growth of the industry in Maryland, as more bettors are becoming familiar with the various betting options available to them. In addition to traditional sports betting, online platforms have also played a significant role in driving up wagering activity, as bettors can now place bets from the comfort of their own homes or on the go using their mobile devices.
Furthermore, the return of major sporting events such as the NFL season, college football games, and playoff baseball has also contributed to the increase in sports betting activity. With more games and events to bet on, bettors have been more active in placing wagers and following their favorite teams and players.
The record monthly high in Maryland sports betting is a positive sign for the industry and bodes well for its future growth and success. As more bettors continue to embrace sports betting and take advantage of the various betting options available to them, we can expect to see even more impressive figures in the months and years to come.
