Maryland’s sports betting revenue for January exceeded last year’s figures, reaching $441.5m in revenue. The taxable win for the month was $55m, contributing $8.2m to the state. Hold in January was 14.7%, 1.2% higher than the previous year, while prizes paid to players amounted to $465m, a 21.8% increase. The total sports betting handle for Maryland in the 2024 financial year has accumulated to $3.1 trillion, marking a 144.9% hike from 2023. The success of sports wagering in Maryland is primarily attributed to the NFL playoffs, which dominated the sporting calendar.
FanDuel emerged as the leading operator in Maryland for online and retail sports wagering in January. With a handle of $244.6m, FanDuel surpassed its competitors, including DraftKings with $154m handle, BetMGM with $40m, and Caesars with $24.5m handle. In terms of retail, Live! Casino Hotel and FanDuel remained at the forefront, recording a handle of $3.5m. While retail accounted for only 3.3% of the total revenue, online betting continued to dominate the market.
Following an impressive performance in December, Maryland’s sports betting revenue for January fell slightly below the all-time high. Since the launch of online sports betting in November 2022, Maryland has consistently experienced strong revenue figures. In December, a new sports betting handle record was set for the second consecutive month, with players wagering a total of $559.9m. Additionally, online casino revenues in Maryland reached $165.6m in December, representing a 5% increase compared to the previous month.
