Record Sports Betting Handle in Maryland for November
November 2024 marked a record-breaking month for sports betting in Maryland, achieving new highs in both total wagers and contributions to the state’s education fund.
Sports Betting in Maryland Hits a New High
Maryland residents wagered a total of $639.9 million in November, the highest monthly handle since the launch of sports betting in December 2021. Of this total, $18.9 million came from retail sportsbooks, while a staggering $621 million was wagered via mobile platforms.
Players won $557.5 million, leaving sportsbooks with a gross “win” of $82.3 million, reflecting a hold rate of 12.9%. After deducting winnings, free bets, and other promotional costs, the taxable revenue amounted to $78.7 million.
Following a less favorable October for operators, November proved to be a lucrative month for Maryland’s sports betting market.
$11.8 Million Allocated to Public Education
A 15% tax on taxable revenue resulted in $11.8 million being contributed to the Blueprint for Maryland’s Future Fund, which supports public education initiatives.
This figure represents the largest single-month contribution to the fund since its inception. The previous record, set in September 2024, was $9.4 million.
Since the start of fiscal year 2025 (July-November 2024), Maryland’s sports betting industry has already generated $40 million for the Blueprint fund.
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