A 2020 referendum, supported by voters, legalized Maryland sports betting. Online sportsbook operators were granted the green light to launch on Nov. 23, 2022, and retail betting began on Dec. 9, 2021.
The state legislature passed sports betting legislation in April 2021, and in May 2021, Gov. Lawrence J. Hogan, Jr. (R) signed sports betting bill HB 940 into law.
Maryland sports betting revenue
Maryland sports betting began on Dec. 9, 2021 with retail betting, and online betting began on Nov. 23, 2022. The Free State generated $5.9 billion in total sports betting handle in 2024.
Below is an outline of Maryland's sports betting figures over the years:
Maryland annual data
| Year 📅 | Handle 💵 | Gross revenue 💰 | Hold % (average) |
|---|---|---|---|
| 2025 | $5,970,604,430 | $707,295,008.18 | 11.9% |
| 2024 | $5,940,586,770 | $635,714,973.81 | 10.7% |
| 2023 | $4,617,323,132 | $514,081,189.02 | 11.18% |
| 2022 | $979,584,834 | $149,342,084.06 | 15.20% |
Maryland 2025 monthly data
| Month 📅 | Handle 💵 | Gross revenue 💰 | Hold % (average) |
|---|---|---|---|
| Jan | $618,824,226 | $82,095,603.95 | 13.3% |
| Feb | $475,708,503 | $59,974,565.39 | 12.6% |
| Mar | $588,500,308 | $47,851,961.47 | 8.1% |
| Apr | $513,716,231 | $59,168,444.28 | 11.5% |
| May | $504,448,189 | $66,309,912.43 | 13.1% |
| June | $403,841,871 | $57,109,737.62 | 14.1% |
| July | $364,075,296 | $44,560,773.75 | 12.2% |
| Aug | $434,220,458 | $52,459,099.50 | 12.1% |
| Sept | $636,667,609 | $70,903,091.98 | 11.1% |
| Oct | $723,349,041 | $71,114,675.53 | 9.8% |
| Nov | $707,252,698 | $95,747,142.28 | 13.5% |
Maryland 2024 monthly data
| Month 📅 | Handle 💵 | Gross revenue 💰 | Hold % (average) |
|---|---|---|---|
| Jan | $544,971,369.28 | $80,000,651.65 | 14.7% |
| Feb | $442,557,658.07 | $43,445,464.14 | 9.8% |
| Mar | $536,730,427.15 | $45,104,095.94 | 8.4% |
| Apr | $486,319,123.75 | $50,420,704.85 | 10.4% |
| May | $431,528,136.95 | $51,065,130.70 | 11.8% |
| June | $384,687,981.64 | $39,668,882.08 | 10.3% |
| July | $333,269,669.49 | $43,764,979.78 | 13.1% |
| Aug | $377,381,688.53 | $39,249,994.41 | 10.4% |
| Sept | $532,866,675.84 | $65,431,799.72 | 12.3% |
| Oct | $593,105,471.23 | $49,601,687.08 | 8.4% |
| Nov | $639,867,400.42 | $82,338,594.97 | 12.9% |
| Dec | $637,301,167.68 | $45,622,988.49 | 7.2% |
Maryland 2023 monthly data
| Month 📅 | Handle 💵 | Gross revenue 💰 | Hold % (average) |
|---|---|---|---|
| Jan | $441,481,778.86 | $59,601,405.22 | 13.50% |
| Feb | $339,421,545.64 | $40,214,644.23 | 11.80% |
| Mar | $385,967,194.94 | $47,548,313.28 | 12.30% |
| Apr | $328,454,397.00 | $35,644,586.12 | 10.8% |
| May | $320,199,671.00 | $42,742,216 | 13.3% |
| June | $254,476,790.17 | $27,077,118.31 | 10.6% |
| July | $247,412,347.75 | $28,114,520.69 | 11.4% |
| Aug | $263,729,559.11 | $24,900,637.15 | 9.4% |
| Sept | $442,450,665.91 | $45,575,923.48 | 10.3% |
| Oct | $483,147,391.18 | $58,701,909.98 | 12.1% |
| Nov | $550,716,328.62 | $41,628,982.32 | 7.6% |
| Dec | $559,865,462.67 | $62,330,932.24 | 11.1% |
Maryland 2022 monthly data
| Month 📅 | Handle 💵 | Gross revenue 💰 | Hold % (average) |
|---|---|---|---|
| Jan | $32,530,831.00 | $4,375,316.00 | 13.40% |
| Feb | $25,526,147.51 | $955,376.80 | 3.70% |
| Mar | $31,025,891.53 | $3,846,791.07 | 12.40% |
| Apr | $26,908,845.00 | $2,838,500.77 | 10.50% |
| May | $23,095,541.88 | $3,019,311.40 | 13.10% |
| Jun | $19,121,331.02 | $1,309,833.91 | 6.90% |
| Jul | $15,492,757.39 | $2,026,547.53 | 13.10% |
| Aug | $18,650,801.84 | $3,231,851.34 | 17.30% |
| Sep | $31,376,072.43 | $6,639,776.25 | 21.20% |
| Oct | $39,663,585.66 | $5,309,435.94 | 13.40% |
| Nov | $219,071,373.52 | $30,620,538.98 | 14.00% |
| Dec | $497,121,655.58 | $85,168,804.07 | 17.10% |
Maryland sports betting at a glance
- Launch date: December 2021
- Regulator: Maryland Lottery and Gaming Control Agency (MLGCA)
- Latest reported month: September 2025
- Lifetime handle: $16,844,964,223
- Lifetime revenue: $1,917,762,237
- Last updated: December 24, 2025
Note: Maryland reports sports betting revenue on a monthly basis. Figures below reflect combined online and retail wagering unless otherwise specified by the regulator.
About sports betting revenue in Maryland
Maryland legalized sports betting in May 2021, with retail wagering launching in December 2021 and online/mobile sportsbooks officially going live in November 2022 under a regulatory framework overseen by the Maryland Lottery and Gaming Control Agency.
The state’s model allows for both online/mobile betting and retail sportsbooks, with licenses available to casinos, professional sports venues, off-track betting facilities, and standalone mobile operators. Maryland’s approach also includes a strong emphasis on broad participation, with a licensing structure designed to expand market access beyond traditional casino operators.
Each month, the Maryland Lottery and Gaming Control Agency publishes official sports wagering reports detailing statewide handle, gross gaming revenue, and tax collections. These reports aggregate online and retail activity and serve as the primary source for tracking the performance of Maryland’s sports betting market.
Because Maryland’s market combines a wide range of retail locations with a competitive mobile sportsbook landscape – and features a licensing structure distinct from many peer states – its sports betting figures are best evaluated within the context of its own regulatory framework rather than through direct, one-to-one comparisons alone.
How to read revenue numbers
- Handle represents the total amount wagered by bettors during the month.
- Revenue reflects sportsbook winnings after payouts, before expenses.
- Hold is calculated as revenue divided by handle, expressed as a percentage.
Monthly revenue can fluctuate significantly due to seasonality, betting mix, and the outcomes of major sporting events.
Maryland sports teams to bet on
Researching your bets is a great way to eliminate bias. Though backing your hometown professional sports team feels good, it might damage your bankroll.
Before placing a wager on the Washington Commanders, Capitals, or any other local teams, check out our how to bet guides, as it provides actionable insights for new and intermediate bettors in Maryland.
Although no scheduled fights are coming to the Old Line State, the best UFC betting sites and top boxing betting sites allow you to easily browse the markets for every card and back fighters you can cheer on as passionately as your hometown teams.
Maryland sports betting law
Legal Maryland sports betting encompassed a two-phased approach courtesy of HB 940. Land-based wagering started on Dec. 9, 2021, while online wagering launched on Nov. 23, 2022.
Scan these highlights of the legal Maryland sports betting landscape:
- The Maryland Lottery and Gaming Control Commission (MLGCC) regulates sports betting.
- The Sports Wagering Application Review Commission (SWARC) reviews and approves license applications.
- Only persons 21 or older can bet on sports in Maryland.
- Legislation authorizes up to 60 mobile sports wagering licenses.
- 12 online betting sites are currently live in Maryland.
- 12 land-based sportsbooks are open for business in Maryland.
- Wagering on esports events is permitted if the participants are at least 18.
- Legal college sports betting in Maryland includes wagering on in-state teams.
Covers and credibility
We have had our finger on the pulse of the sports betting industry for more than 25 years. The sports betting revenue figures and statistics found here have been personally reviewed, verified, and fact-checked to ensure their validity.
News outlets turn to Covers for our earned reputation as a trusted and authoritative source of sports betting information. These are among the notable publications and media outlets that have referenced Covers.com and our industry experts.
More industry resources
As states continue to authorize legal sports betting — now 38 states plus DC, consult these informational websites for additional information on the sports betting industry:
- American Gaming Association (AGA): Organization dedicated to advancing the gambling industry's interests by promoting, educating, and advocating for responsible gambling.
- Professional and Amateur Sports Protection Act (PASPA): Supreme Court of the United States ruling.
- National Council on Problem Gambling: Those seeking help for a gambling problem can call 1-800-GAMBLER toll-free, 24/7.
Related sports betting revenue coverage
U.S. Sports Betting Revenue Tracker
Monthly Sports Betting Revenue by State: Arizona | Arkansas | Colorado | Connecticut | DC | Illinois | Indiana | Iowa | Kansas | Kentucky | Louisiana | Maine | Maryland | Massachusetts | Michigan | Missouri | Nevada | New Hampshire | New Jersey | New York | North Carolina | Ohio | Oregon | Pennsylvania | Rhode Island | Tennessee | Vermont | Virginia | West Virginia | Wyoming
Sports betting revenue tracker FAQ
The sports that generate the most sports betting revenue can vary depending on factors such as the sport's popularity, the betting market's size, and the timing and frequency of significant events. Football stands as the most popular sport for betting in the United States, with the NFL generating the highest revenue. The Super Bowl alone is one of the world's most-watched and bet-on sporting events. Basketball is also a popular sport for betting, particularly in the United States where the NBA lays claim to the top basketball league in the world.
Sports betting revenue varies greatly depending on the region, market, and size of the industry. However, in many jurisdictions, sports betting can generate significant revenue and contribute to the overall economy. Compared to other industries, sports betting revenue may not be as significant. For example, in 2020, the global video game industry was estimated to generate over $159 billion in revenue. Meanwhile, the global film industry was estimated to generate over $100 billion in revenue in 2020.
The popularity of select sports events cannot be overlooked, with the Super Bowl and World Cup among the largest betting events in the globe. Betting odds and lines also greatly impact the amount of revenue generated by sports betting. Other factors include technological advancements, including the live streaming of events.
The future of sports betting revenue hinges on additional markets legalizing sports betting, via mobile betting, land-based, or a combination of both. An uptick in legal U.S. markets will trigger increased revenues, while new bet trends including same game parlays and in-game wagering, unlocks more opportunities for customers.
Online sports betting has significantly impacted sports betting revenue, notably in states where it is legal and regulated. The rise of online sports betting has facilitated the customer experience, allowing people to place bets remotely or in-person from the event itself, leading to increased revenue for sportsbooks. Betting site operators can also reach a much larger audience and customer-base. Overall customer convenience plays a large part in driving up sports betting revenue.
Gross revenue represents the total amount of money a sportsbook takes in from all customer bets, and it includes the total value of all bets placed, regardless of whether the bets won or lost. In other words, gross revenue is the total amount of money a sportsbook earns from its customers. Net revenue, conversely, is the amount of money a sportsbook earns after deducting all its operating expenses. This includes things like salaries, rent, marketing expenses, and other costs associated with running the sportsbook. Net revenue is the profit a sportsbook makes from its operations.
Major sports events including the Super Bowl and World Cup have a significant impact on sports betting revenue. These events garner a lot of attention from fans, which leads to increased betting activity and higher revenue for sportsbooks. The Super Bowl alone is the largest single-day betting event on the sporting calendar, which generates millions of dollars in revenue for sportsbooks.
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