Maryland Sports Betting Experiences 68% Month-Over-Month Surge in September

The expected September sports betting surge in Maryland came to fruition, as the Old Line State's 12 Maryland sports betting apps and 13 retail providers experienced a massive spike in overall wagering activity at the best sportsbooks.

The start of the NFL season proved to be a boon for the sports betting sites in Maryland. Handle totals spiked, and so did the revenues and taxes the state's legal sports betting providers paid, according to the Maryland State Lottery and Gaming Agency.

Handle spikes 68% month-over-month

Maryland sports betting took in $442.4 million in bets during September, the second-highest handle the state has recorded since the November 2022 launch of a comprehensive retail and mobile sports wagering platform with Maryland sportsbook promos. Only the record $497.1 million handle from December 2022 eclipsed the betting activity from September, with plenty coming through the best sports betting apps.

That $442.4 million figure represents a 68% month-over-month increase from the $263.7 million reported in August. Year-over-year comparisons are a moot point, as there was no widespread legalized mobile platform in Maryland during September 2022.

College and pro football made up slightly more than $133 million of the state's overall September handle. 

Maryland sports betting apps were responsible for more than 95% of the total September handle. Mobile providers took in $420,957,789 during September, while retail accounted for $21,492,877 of Maryland's September handle. 

September's totals allowed the Maryland legal sports betting scene to surpass the $3 billion mark in year-to-date handle. Maryland became the 10th state in the broad U.S. legal sports betting market to eclipse that milestone.

Revenues followed suit

With the 68% spike in Maryland sports betting activity in September came an even larger increase in revenues for the Old Line State's licensed sports betting providers. Maryland also experienced a healthy month-over-month increase in tax contributions for state and local coffers.

Gross gaming revenues for Maryland sports betting apps and retail providers came in at $45.6 million in September, an eye-opening 83% increase from the $24.9 million reported in August. September profits were the third-highest profits total for the state's providers to date.

The $21.5 million in adjusted gross revenues (after promotions and deductions) allowed the state to collect $3.2 million in taxes from September's haul, thanks to the state's 15% tax rate on earnings. That's up from $2.56 million in August and is the third-best tax contribution total for the state since welcoming legal mobile sports betting in November 2022.

$2,888,568 in taxes came from Maryland sports betting apps, while the state's retail providers contributed $342,859.

Revenue and tax spikes can be partially attributed to a sportsbook-friendly 10.3% hold rate, which is up from 9.4% in August. That said, 10.3% is the second-lowest win rate for Maryland sportsbooks since November 2022.

FanDuel leads the way

FanDuel has seen its national lead as the best online sportsbook shrink over the last few months, with DraftKings taking an increasingly larger market share.

But FanDuel maintained its standing as the best Maryland sports betting app. FanDuel Maryland made up $175 million of the state's overall September handle while generating $19.9 million in revenues.

DraftKings Maryland checked in second with $154.1 million in September bets and $15.5 million in revenues. BetMGM Maryland was third with almost $37 million in wagers and $4 million in profits, and Caesars Maryland rounded out the top four with $18.8 million in September bets.