Sportsbooks generated a handle of $639.9 million, bringing the total for FY2025 up to almost $2.48 billion.
the state’s sports betting figures for November, revealing sportsbooks generated a betting handle of nearly $639.9 million, bringing the total for FY2025 up to almost $2.48 billion.
FY2025, which so far covers July 2024 to November 2024, has added more than $40 million to state contributions, much higher than the $18.1 million at the same point in FY2024. The $11.98 million added in November 2024 accounts for almost 30% of the total.A 12.9% hold on the November sports betting handle helped generate almost $78.7 million in taxable revenues, significantly more than the $21.3 million produced the year prior. In November 2023, sportsbooks only kept a hold of 7.6%.
The retail sports betting hold was 10.1%, producing almost $2 million in taxable revenues. Meanwhile, the mobile sports betting hold of 13% made $80.4 million in revenues. Retail sports betting added just over $200,000 to state taxes, while the rest came from online wagering. Like many U.S. betting states, Maryland saw significantly lower sports betting revenues than expected in October.
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