The Maryland Lottery and Gaming recently released the state’s sports betting figures for November, showcasing impressive growth in the betting market. Maryland sportsbooks generated a betting handle of nearly $639.9 million, bringing the total for Fiscal Year 2025 to almost $2.48 billion. This monthly handle represents a significant 16.2% increase from November 2023, with the year-to-date betting handle 24.6% higher than the previous year.
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Maryland Sportsbooks Set Impressive Numbers
November marked the second consecutive month of record-breaking sports betting handles, surpassing October’s previous record of $593.1 million. The impressive performance translated to a record $11.98 million contribution to the state. This is a noteworthy 274.6% increase year-on-year. The current fiscal year, spanning July 2024 to November 2024, has already added more than $40 million to state contributions, compared to just $18.1 million at the same point in the previous fiscal year.
A notable factor in this success was the impressive 12.9% hold on the November sports betting handle, which generated nearly $78.7 million in taxable revenues—a substantial increase from the $21.3 million produced in the previous year. While the Maryland Lottery and Gaming does not release operator-specific figures, they provided a breakdown between mobile and retail sports betting.
Online sports betting dominated the market, accounting for $621 million of the total handle, compared to just $18.9 million from retail sports betting. The mobile sports betting hold of 13% generated $80.4 million in revenues, while retail sports betting contributed a modest $200,000 to state taxes. This is why if you are thinking about opening a sportsbook, the best options is to use bookie pay per head software to help you start an online sportsbook operation.
The Resilience of the Maryland Betting Market
Despite a potentially challenging October that saw lower-than-expected revenues across many U.S. betting states, Maryland demonstrated resilience. The state’s sports betting market continued its growth trajectory, setting records in September, October, and November. Even traditionally slower months like August showed promise, with a 6% increase in the sports betting handle year-on-year.
The market’s growth can be attributed to several factors, including the launch of Bally Bet in July 2024 after a trial period approved by the Maryland Lottery and Gaming Control Commission. With more sportsbooks entering the market, and with an increasing number of bettors, it’s the perfect formula for growth in the state. If you want to have a sportsbook business recording similar growth trends, make sure you have a provider that can give you complete gaming software. For instance, this live betting bookie software can help you earn more with dynamic live betting. This can be very profitable with the NFL, NBA, and college sports running in the next few months.
