Maryland Sports Betting Soars to Record $593 Million in October
Maryland sports betting reached a record-breaking $593.1 million in handle during October 2024, marking the highest monthly total since its December 2021 launch. This represents a 22.8% increase from October 2023's $483.1 million.
Online betting dominated the market with $576.4 million in handle, while retail betting contributed $16.6 million. The state collected $7.04 million in tax revenue, its third-highest monthly total ever.
Football player performing a sliding tackle
Key Highlights:
- Total Handle: $593,105,471
- Taxable Win: $46,998,314
- Tax Revenue: $7,049,747
- FY 2025 Tax Revenue (July-October): $28.3 million
- Lifetime Tax Revenue: $116.7 million
Market Leaders for October 2024:
- FanDuel: $269.2 million handle, $3.97 million tax revenue
- DraftKings: $180.4 million handle, $1.97 million tax revenue
- BetMGM: $47.9 million handle, $430,496 tax revenue
Maryland Lottery and Gaming Director John Martin attributed the success to October's busy sports calendar, with all major U.S. leagues in season and strong performances from local NFL teams, the Baltimore Ravens and Washington Commanders.
Other Operator Performance:
- Caesars Sportsbook: $25.3 million handle
- ESPN BET: $14.8 million handle
- Fanatics: $28.4 million handle
- BetRivers: $6.0 million handle
- Remaining operators each reported under $2.1 million in handle
The state's fiscal performance shows significant growth, with tax revenues nearly doubling compared to the same period in FY 2024 ($28.3 million vs. $14.9 million).
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