November was Maryland’s most successful month of sports betting, both for operators and the state.
The Maryland Lottery and Gaming stated that gamblers wagered a new monthly record of $639.9 million last month, substantially exceeding the previous high of $593.1 million achieved in October. Approximately $621 million of the total was wagered online.
That total handle increased by 16.2% from November 2024 and generated $82.3 million in gross gaming revenue, as sportsbooks recovered from a bad October to achieve an almost 13% hold.
Operators’ net revenue of more over $78.6 million set a state record and resulted in an all-time high of just under $12 million in tax income for the state. That was about $2.5 million more than the previous record monthly tax haul, $9.4 million collected in September of last year, and a huge 274.6% increase year over year.
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Sportsbooks in Maryland are spending far less on promotions than they were this time last year, with promo expenditure down 94% from $28.7 million in November 2024 to $1.6 million last month.
Year to far, sports betting volume is up 24.6% from last year, totaling just under $2.5 billion. The Maryland market generated just over $40 million in sports betting tax revenue, a 121.2% increase.
FanDuel vastly outperforms the rest
In November, FanDuel had a significant lead in the state.
It accounted for 44% of the state’s total betting transaction, collecting $283.3 million from Maryland sports gamblers. That was $83 million more than its next rival, DraftKings, which got $199.7 million.
FanDuel’s monthly income of $6.01 million was nearly double DraftKings’ $3.5 million.
Behind the top two, BetMGM was the best of the others, with $948,407 in taxable income on $52.6 million in handling. Fanatics Sportsbook finished fourth with $30.5 million in handling and $381,796 in tax income, while Caesars Sportsbook rounded out the top five ($25.0 million handle, $315,639 in revenue).
ESPN Bet’s $17.6 million in handle and $267,574 ranked sixth, but were much ahead of BetRivers’ $7.8 million and $75,811.
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