Maryland Online Sports Betting Sees $324.9 Million of Handle in July

Market Trends and Tax Contribution

Maryland bettors won more than $289.5 million during July, with 282.4 million won by online and mobile players, and $7.1 million by retail bettors.

Since the legalization of retail sports betting in Maryland in 2021 and the subsequent opening of the online sports wagering market in 2022, the state’s sports betting market has shown consistent growth.

The state’s sportsbooks contributed nearly $6.3 million to the Blueprint for Maryland’s Future Fund from the total sports betting handle as under Maryland’s current regulations, sportsbooks are required to contribute 15% of all taxable wins to the Fund.

Leading Sportsbooks and Revenue Performance

FanDuel continues to dominate the Maryland sports betting market. In July, the operator extended its streak of double-digit holds on gross revenue to eight months, achieving a 14.7% hold on $145.9 million in wagers, resulting in $21.5 million in revenue.

DraftKings also reported strong performance, with a handle of $106.5 million and a hold of 11.7%, generating $12.5 million in revenue.

BetMGM secured the third position in both revenue and handle, earning $3.2 million from $25.6 million in wagers, with a 12.5% win rate.

Fanatics Sportsbook narrowly edged out Caesars for the fourth spot in revenue, generating just over $1.7 million with a 13.1% hold, compared to Caesars’ 10.6% hold.

ESPN BET rounded out the top six, achieving a near-11% hold, resulting in $1.2 million in revenue from $10.5 million in wagers.