This week, Maryland Lottery and Gaming released their sports betting figures for November 2024. State sportsbooks combined to generate a betting handle of $639.9 million. Their total for the 2025 fiscal year is now at $2.48 billion. In November 2023, Maryland sportsbooks combined for a $550.7 million handle. That was a 16.2% year-over-year increase.
In back-to-back months, Maryland sportsbooks have set new sports betting handle records. On top of that, they’ve surpassed a record set in October 2023 of $593.1 million. Sportsbooks contributed a record $11.98 million to the state. That was a 274.6% increase year-over-year. Maryland’s $11.98 million in November is nearly 30% of their 2025 fiscal year total.
A sizeable hold in November led to taxable revenue
Last month, a 12.9% hold on Maryland’s sports betting handle helped generate almost $78.7 million in taxable revenue. That was more than three times higher than the $21.3 million in 2023. In November last year, sportsbooks only had a 7.6% hold compared to 12.9% in 2024. Unlike other U.S. operators, Maryland Lottery and Gaming doesn’t release figures for each operator.
Instead, they detail the differences between retail and online sports betting. In November 2024, $621 million of the sports betting handle came from online accounts. Compared to $18.9 million from retail sports betting. Retail locations had a 10.1% hold and had roughly $2 million in taxable revenue. A 13% mobile sports betting hold was enough for $80.4 million in revenue.
2024 was a strong year for Maryland despite setbacks in October
Most U.S. betting states in October saw significantly lower sports betting revenue. That was true for Maryland sportsbooks. While states like New York set a record-breaking sports betting handle, they posted year-over-year revenue declines. This was due to favorable results from bettors in October. Particularly in the NFL. Maryland was less affected than other states in October but still produced a low 8.4% handle. However, revenue increased 21.3% year-on-year.