Maryland Sports Betting Handle Jumps 48% Year-Over-Year

Despite the usual spring/summer sports betting slowdown, the Maryland legal sports betting industry is thriving. Our top sports betting sites in the Old Line State exceeded expectations with a strong performance in April 2024.

In April, Maryland sports betting apps and retail providers generated nearly $500 million in revenue, as reported by the Maryland Lottery and Gaming. This marks the second time in three months that operators in the state fell short of surpassing the $500 million threshold, despite the positive results.

FanDuel dominated as the leading Maryland sports betting site for the month, generating over 60% of the total revenue for state operators. It also represented nearly 47% of the overall April handle and distributed almost 80% of the promotional credits and bonuses to bettors. To make the most of FanDuel in Maryland, bettors can utilize our exclusive FanDuel promo code.

$486.3 million April handle

In Maryland, sports bettors wagered a total of $486.3 million through sports betting apps and retail providers, marking a significant 48.1% increase from the $328.4 million bet in April 2023.

Nonetheless, this represents a nearly $50 million decrease or 9.3% from the $536.7 million in March, which saw a surge in wagering due to the NCAA Men’s and Women’s basketball tournaments.

Maryland’s mobile sports betting sites accounted for 98% of the state’s April sports betting handle, with the remaining $11.3 million coming from retail locations. Maryland residents made the most of sportsbook promotions offered in the state.

In April, the Maryland sports betting industry surpassed $2 billion thanks to strong handle numbers, marking the eighth month where the monthly handle exceeded $400 million.

Revenues rise year-over-year too

In April, Maryland sportsbooks saw strong revenue numbers, building off of a solid overall handle. With a win rate of 10.4% (10.6% from Maryland sports betting apps and 2.6% from retail), the sportsbooks were able to bring in $50.4 million in gross sports betting revenues.

This shows a significant increase of 41.5% compared to April 2023’s $35.6 million, and a notable $5.2 million increase from March’s $45.1 million. In March, the statewide hold rate was at an uncharacteristic average of 8.4%.

The state’s 15% tax rate resulted in state providers paying $5.7 million in taxes from $37.9 million in adjusted gross revenues. This brings the total tax contribution for the year to $23 million, exceeding the pace set for the first four months of 2023 by nearly $9 million.

FanDuel is in a league of its own

In April, FanDuel dominated as the top Maryland sports betting app, accounting for 46% of the total $474 million mobile sports wagering handle with a contribution of $211 million.

FanDuel’s winnings in April reached approximately $30.8 million, making up about 60% of the state’s total revenue, thanks to a 14% increase in hold. This marks the fifth month in the last 18 months that FanDuel has exceeded $30 million in monthly earnings in Maryland.

It accounted for approximately 80% of the state’s monthly promotional credits and bonuses, paying out $8.6 million in freebies to its customers in April.

DraftKings Maryland came in second place in April, with a total handle of $141.7 million and revenue of $12.1 million. ESPN BET Maryland placed third, with $35.6 million in accepted bets but only $900K in revenue due to a low hold of 2.5%.

In April, BetMGM Maryland closed out the top four with $34.4 million in bets accepted and $3.6 million in revenue.