Maryland's sports betting revenue dips down to approximately $27 million in April figures.
Spotlight: Maryland Sports Betting Boost in April 2025
Let's dive into the Numbers
The Maryland gaming scene witnessed arespectable boost in April 2025, with a sports wagering handle of around $514 million, surpassing March's figure significantly. The intriguing part? This whopping amount was predominantly generated from online betting, totaling around $501 million, while retail betting contributed approximately $12 million.
Gross Revenue and Hold Rates
The gross revenue for April soared to approximately $59 million, marking a substantial increase compared to March. This hefty revenue was the result of a more competitive hold rate, which stood at 11.5% in April, up from the 10.4% seen in the previous year.
Tax Receipts
Moving on to the tax component, while specific figures for March are unavailable, April's tax revenues form part of the overall revenue, though they have yet to be detailed in the available data. Typically, Maryland's sports betting tax revenues are based on the gross gaming revenue, contributing to the state's education fund [1][4].
Revenue Growth and Hold Rate Improvement
April noted a nearly 24% month-over-month increase in gross revenue, largely due to improved performance in sports such as professional basketball and baseball, as well as parlays. The higher hold rate in April compared to March indicates better performance for sportsbooks that had struggled with low holds in March [1].
Impact of NCAA Tournaments
Despite the NCAA tournaments, particularly the men's and women's Final Four and National Championship games, causing losses for sportsbooks in both March and April, April's overall performance was more favorable due to the higher hold rate from other sports [1].
The Biggest Players
All five brick-and-mortar sportsbooks reported a decline in both handle and revenue compared to March, with Live! Casino & Hotel in Hanover experiencing the least decline in handle and Horseshoe Casino in Baltimore recording the smallest dip in revenue [2]. Live! Casino remained the top contender, contributing 49.5% of the state's overall handle, while boasting 55.6% of all operator winnings [2].
For those keeping score at home, here's a brief rundown of April's numbers for Maryland Sports Betting:
- Handle: $513.7 million
- Gross Revenue: $59.2 million
- Hold Rate: 11.5%
- Taxes: TBD (contributes to education fund)
1/x #GamblingTwitter
(A snappy, bite-sized comment about Maryland's sports betting performance from the Twittersphere)
References: [1] Lottery and Gaming Control Agency of Maryland, [2] Gambling.com, [3] Action Network, [4] PlayMaryland.com, [5] Washington Post Sports.
The surge in Maryland's sports betting handle in April 2025, at around $514 million, was primarily driven by online sports-betting, accounting for about $501 million, suggesting a notable preference for digital wagering. The inflated gross revenue of approximately $59 million, a 24% increase from March, was a testament to the success of various sportsline offerings such as professional basketball and baseball, and parlays.
