A Closer Look at Maryland's Betting Landscape
Maryland Sets New Record with Sports Betting Tax Income
Michael Savio, a renowned expert in the US online casino industry, sheds light on the exciting world of sports betting in Maryland. His articles provide unique insights and updates that you won't find anywhere else!
Michael's extensive experience in the retail industry, gained during his time in Las Vegas, combined with his coverage of the online betting sector's growth, make him one of the most reliable insiders in the business. From online casino reviews to industry news, Michael's work is a must-read for anyone interested in the gaming world. Check out Michael's latest articles at casinos.com to stay informed!
Spotlight on Maryland
Operator Performance
In the vibrant sports betting market of Maryland, the handle for September 2024 was an impressive $532 million, with tax revenue nearly tripling compared to September 2023. Ever since its launch, FanDuel has been leading the pack among operators.
Did you know? As of January 2025, Maryland's sports betting handle reached $601,253,356, with a revenue of $53,892,757. While there was a slight decrease in February and March, the handle was still strong, reaching $619,458,099 in December 2024 and $588.5 million in March 2025.
Online wagering continues to dominate, accounting for 97.4% of the handle. In March 2025, $573,354,414 was wagered through Maryland-licensed mobile apps, showing a significant increase from previous months. However, the hold rate has varied, with an average of nearly 9.3% from April 2024 to March 2025.
Tax Revenue
In March 2025, Maryland received $4,419,403 in tax revenue from sports betting, which was a decrease from the previous month and year. To boost revenues, the state has recently implemented a 20% sports betting tax rate. Projections for the 2025-26 fiscal year indicate a handle of approximately $7.1 billion and revenues approaching $580 million.
Future Outlook
The sports betting market in Maryland is poised for growth, albeit at a more conservative rate than in previous years. A forecasted handle increase of about 10% is anticipated, which could lead to higher tax revenues under the new tax rate.
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- Michael Savio's articles on Maryland's sports betting landscape offer exclusive insights and updates, making them an invaluable resource for anyone interested in the online casino industry.
- Being an insider with extensive experience in both the Las Vegas casino scene and the online betting sector, Michael Savio is one of the most reliable sources for news and reviews in sports betting and online casinos.
- In the thriving Maryland sports betting market, FanDuel has consistently led other operators since its launch in terms of handle and market share.
- Though Maryland's tax revenue from sports betting decreased in March 2025 compared to previous months, the state has increased the tax rate to 20% as a measure to boost revenues for the fiscal year 2025-26.
- According to projections, the sports betting market in Maryland is expected to grow at a slight rate, with a forecasted handle increase of about 10%, which may result in higher tax revenues under the new tax rate.
