Maryland Sports Betting Posts Strong February with $475.7M Handle

Breaking Down the Numbers

The $475.7 million handle leaned heavily on mobile betting, which clocked in at $463.2 million, including $16.2 million in promotional free bets.

Retail sportsbooks chipped in a smaller but steady $12.5 million, with $19,500 in promos. After paying out $415.7 million in prizes, $404 million via mobile and $11.8 million at retail, the industry’s hold landed at a solid $60 million, or 12.6%. Mobile bets edged out retail with a 12.8% hold versus 6%, showing online platforms held their edge.

Taxable win, what’s left after promos and deductions, hit $42.3 million: $41.8 million from mobile and $486,152 from retail. That translated to $6.35 million in sports betting taxes at Maryland’s 15% rate, with mobile contributing $6.3 million and retail adding $72,923. Every penny of that tax haul feeds the Blueprint for Maryland’s Future Fund, boosting public education.

A Growing Legacy

Since kicking off in December 2021, Maryland’s sports betting program has been a steady cash cow for education. By February’s end, it had poured $149.6 million into the Blueprint Fund. Meanwhile, unclaimed prizes, those left on the table after 182 days, pushed the Problem Gambling Fund to $3.7 million, supporting awareness and treatment efforts.

February alone kept the trend alive, with fiscal year 2025 (July 2024–February 2025) contributions hitting $61.2 million, up sharply from $37.1 million over the same stretch last year.

The state ran on 11 mobile platforms and 13 retail spots in February, though the Greene Turtle/betParx location in Towson shuttered on February 9, trimming retail to 12. Even so, the market’s humming along, balancing digital dominance with brick-and-mortar play.

What’s Driving the Action

February’s haul reflects a busy sports calendar—think NBA, NHL, and college hoops, plus the Super Bowl’s lingering buzz. Mobile’s 97% share of the handle underscores how bettors prefer their phones over a trek to the sportsbook.

The $60 million hold, bolstered by a higher mobile win rate, hints at savvy wagering or just good luck for operators. Retail’s lower 6% hold suggests tighter margins in-person, but it’s still pulling its weight.

The tax boost outpaced last year. With $61.2 million banked this fiscal year, the state’s already eclipsed fiscal 2024’s full-year total of $60.3 million, and there’s still four months to go.