Maryland reaches sportsbook handle high in November as online dominates
Statewide licensed operators rack up $550.7m in wagers as ESPN Bet makes debut in state
Maryland sports betting broke its own monthly handle record in November, with Free State-licensed operators racking up $550.7m in wagers, according to Maryland Lottery and Gaming Commission (MLGC).
The November handle total beat a previous record set in December 2022, when sportsbooks collected $497.1m in bets, with online sports betting accounting for 97% of the state’s total sportsbook handle in the month at $533.2m.
Maryland’s market operated with a sportsbook hold of 7.6% in November.
Despite strong sportsbook handle, Maryland-licensed operators took combined revenue of just $41.6m, up 36% year on year but down from the $58.7m in October.
Adjusting for winnings, revenue totals fell to $21.3m, down 39.5% from that reported in November 2022.
State authorities collected $3.2m in tax revenue from the state’s 13 retail sportsbooks and 12 mobile sportsbook operators during the month.
At an individual operator level, FanDuel led the way in November, racking up handle of $241.7m and revenue of $19.5m in Maryland over the course of the period, far ahead of longtime rival DraftKings, which took handle of $165.8m and revenue of $7.3m.
Perennial bronze medallist, BetMGM, reported sportsbook handle of $35.9m and revenue of $1.1m in November, just ahead of Maryland market debutant ESPN Bet, which took $33.3m in handle but no revenue over the month.
ESPN Bet edged out Caesars Sportsbook, which saw sports betting handle of $25.5m and $191,645 in revenue in November, and Fanatics, which reported handle of $19m over the same period.
Rush Street Interactive’s BetRivers sportsbook, PointsBet, and BetFred were the only other operators to break the million dollar-handle threshold during November.