In October, Maryland sports betting reached record-breaking numbers, with a 22.8% year-on-year increase in handle to $593.1 million. This figure also represented an 11.3% rise in handle from the previous month. Despite a decrease in hold to 8.4%, the state’s sportsbooks reported a 21.3% revenue increase, totaling almost $47 million. State contributions also rose by 21.3% to more than $7 million.
The success of local sports teams, such as the Baltimore Ravens and Washington Commanders, likely contributed to the strong handle seen in October. The sports betting industry in Maryland has been thriving since it was launched in December 2021, with operators contributing over $116.7 million to the Blueprint for Maryland’s Future Fund and $3.5 million to the state’s Problem Gambling Fund.
Mobile operators dominated the market, accounting for over 99% of the revenue total. FanDuel Sportsbook led the way with $269.3 million in wagers, followed by DraftKings and BetMGM Sportsbook. In terms of revenue, FanDuel also came out on top with $26.5 million, followed by DraftKings and BetMGM.
The BetMGM Sportsbook at MGM National Harbor led in retail handle, with Live! Casino Hotel’s FanDuel Sportsbook and ESPN BET at Hollywood Casino following closely behind. However, revenue figures told a different story, with some venues experiencing losses while others saw gains.
Overall, Maryland’s sports betting industry continues to thrive, generating significant revenue and making substantial contributions to support public education programs in the state. The data from October reflects the growing popularity and success of sports betting in Maryland.
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