January has been good for Maryland sports betting over the past two years, producing a hold of over 13% and the second-best revenue haul in both 2023 and 2024.
The first month of 2025 fits right in with that trend.
Maryland Lottery and Gaming reported a monthly handle of $618.8 million and the third-highest gross revenue recorded in the Old Line State since online wagering began in November 2022.
The $82.1 million produced by operators ranks only behind December 2022 and November 2024. Revenue was also up 2.6% year-over-year and a massive 79.9% increase from December 2024. Adjusted revenue of $55 million was the fourth-most recorded in Maryland.
The NFL playoffs and the end of college football’s postseason sparked a 13.6% year-over-year rise in handle, which cleared $600 million for the third consecutive month.
Maryland sports betting operators enjoyed a 13.3% hold, the highest since posting a 14.7% win rate in January 2024 and up over six points from December 2024. Seven of the state’s 11 legal online sports betting operators generated double-digit holds.
Online and retail sportsbooks sent $8.2 million in taxes to the Blueprint for Maryland’s Future Fund, which supports education, and the Problem Gambling Fund.
NFL turns impressive hold
The last full month of football betting led to more than $100 million in wagers. The NFL accounted for $87.6 million, and an impressive 9.7% hold led to more than $8.5 million in revenue from that sport alone.
College football generated a $14.7 million handle but cost operators nearly $940,000 in January. Football helped the parlay handle reach $236.2 million, and with a 24.7% hold on multi-leg bets, sportsbooks earned $58.4 million.
The NBA led all sports with a handle of $122 million, and a 6.2% hold led to nearly $7.6 million in revenue. College basketball’s win rate of 5.3% on a $40.5% handle produced another $2.1 million in operator profit.
January also brought us the first tennis Grand Slam tournament of the year with the Australian Open. The sport generated $31.2 million in wagers with another $15.9 million bet on soccer. Other sports, which don’t include golf, hockey, or racing, attracted $54.5 million in bets.
Month-over-month growth
| Operator | January Handle | Revenue |
|---|---|---|
| FanDuel | $278.5 million | $42.7 million |
| DraftKings | $178.9 million | $23.3 million |
| BetMGM | $51 million | $5.9 million |
| Fanatics Sportsbook | $33.4 million | $3.6 million |
| Caesars | $29.4 million | $2.2 million |
| ESPN BET | $18.3 million | $1.6 million |
Online sports betting accounted for $601.3 million wagered in Maryland during January and $80.6 million in gross revenue. Mobile sportsbooks spent more than $25 million in promotions for the month.
FanDuel led all operators with a handle of $278.5 million, down slightly from December 2024’s $285.3 million. Behind a whopping 15.3% hold, gross revenue spiked 68% month-over-month to $42.7 million in January.
DraftKings finished second with a $178.9 million handle and enjoyed a 13% hold to produce $23.3 million, nearly double December’s revenue.
BetMGM was the only other online sportsbook to reach $50 million in wagers, and an 11.5% hold led to $5.9 million, up from December’s $3.3 million. Fanatics Sportsbook’s double-digit hold on a $33.4 million handle produced a 50% month-over-month revenue increase.
Caesars finished in the top five with a $29.4 million handle but only produced a 7.4% win rate while ESPN BET cleared over $1.5 million on a 9% hold.
iGaming push
A Maryland lawmaker is once again attempting to bring iGaming to the Old Line State. However, delegate Vanessa Atterbeary’s House Bill 0017 has not gained any traction so far. The House’s Ways and Means Committee heard her bill for a second time on Monday but took no action.
Atterbeary filed the bill last month in hopes of generating millions of dollars more for Maryland’s education fund. A bill last year made it past the House and died in the Senate. This year, Atterbeary removed allowing the use of credit cards to fund accounts, and she said Monday that online casinos could be legalized without a constitutional amendment, which requires voters to pass it on a ballot.
The bill must be passed by the House before March 17’s cross-over-day. The legislative session ends April 7.
